September 30,

December 31,

September 30,

(Dollars in thousands)

2020

2019

Composition of residential loans serviced for others

Fixed-rate mortgage loans

99.9

%

99.8

%

99.8

%

Adjustable-rate mortgage loans

0.1

%

0.2

%

0.2

%

Total

100.0

%

100.0

%

100.0

%

Weighted average life

5.52

years

6.55

years

6.10

years

Constant Prepayment rate (CPR)

14.3

%

10.3

%

11.4

%

Weighted average discount rate

9.0

%

9.4

%

9.4

%

Effect on fair value due to change in interest rates

25 basis point increase

$

2,533

$

2,477

$

2,398

50 basis point increase

5,178

4,452

4,390

25 basis point decrease

(2,400)

(2,938)

(2,862)

50 basis point decrease

(3,665)

(6,228)

(5,999)