Rates Plunge, High Yields At Risk

Getty images wasn't going to add value to this article anyway. Here are some cute animals. Liudmila Chernetska The price-to-trailing-book ratio is exceptionally high for some agency mortgage REITs. Not so much for others. It's interesting to note that Q4 2023 has been a very favorable quarter for the sector. It didn't look that way in October when rates were going higher. In October, we saw higher rates combined with big spreads between MBS and hedging rates. That's awful for book value, though it is nice f ...