Burnout

Burnout refers to mortgages and interest rates. It's used to describe a period where the payment rates on mortgages slow down even if interest rates drop.

When interest rates lower, it results in a larger payment on the principal (and less on the interest). Usually, mortgage holders that can refinance...do. When lower interest rates continue for a period of time, an increased number of mortgages will be refinanced. The mortgages that are not refinanced are the burnout group.