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Half Life

In a pool of mortgages underlying a mortgage-backed security, the length of time it takes for half the aggregate principal to be repaid. A half life is normally about 12 years, but this may vary depending on how often homeowners refinance their mortgages (which pays off all principal at once). Half lives are calculated for mortgage-backed securities issued or guaranteed by Freddie Mac, Fannie Mae, and Ginnie Mae.

Weighted Average Life

The amount of time for the principal on a loan or a mortgage to be paid off. The length of the weighted average life depends on the amount of principal paydowns and how often they are made. Once the WAL is calculated, one can determine how long it will take to pay off half of the remaining principal.


The length of time before half the principal on a debt is expected to be repaid through amortization or sinking fund payments. For example, a 25-year bond issue may require the issuer to retire 5% of the beginning principal commencing 5 years after the issue date. Thus, the bond issue has a half-life of 5 years plus the number of years required to retire half the issue, or 15 years. Mortgage-backed securities often have a relatively short half-life because many homeowners pay off or refinance their mortgages early. Also called average life.
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Because brevetoxin remained in the blood after 116 hr, we set the constraints to plateau at zero in order to calculate an approximate biologic half-life ([t.
It also indicates that to make the evaluation possible, the dietary exposures on the dietary-exposed day also need to be large; the biologic half-life of the chemical, [T.
On the other hand, the fact that chlorpyrifos oxon was more potent than TCP and less potent than chlorpyrifos probably indicates that the oxon does not contribute significantly to mitotic inhibition and loss of cells in vivo, in light of the much lower concentrations and short biologic half-life of this active metabolite (51).