MBS RECAP: Have You Heard The One About Mortgage Underperformance?!

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Posted To: MBS Commentary

Living under a rock has a lot of advantages: generally low housing cost, durability, no roof maintenance, and if you're strong enough, you have something to throw at anyone who approaches your castle in a threatening way. The disadvantages may be slightly more numerous, but I can only really think of one right now: the lack of access to timely market-related news! All that nonsense to say: unless you've been living under a rock, you've probably heard or seen that mortgage rates and/or MBS are doing an absolutely lousy job of keeping pace with the move in the Treasury market. Even from under said rock, you could still probably hear other people whining about this dynamic, so you really have no excuse not to know. Despite our knowledge of this general phenomenon, reality is still…(read more)

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