The red-hot vehicle ABS market saw intense competition between S&P and Fitch for ratings supremacy. Kroll rode the resurgent ECM MBS market to boost its share of rated issuance. (Includes two data tables.)

Bank of America Global Research is projecting an increase in agency MBS issuance next year despite muted demand from banks.

REIT values can rise and fall depending on interest-rate swings. The good news is that rates have steadily dropped the past five weeks. The bad news: A rate cut by the Fed will need a recession to occur first.

Capitol Federal Savings Bank took a loss of about $200 million on the sale of $1.3 billion of securities (largely MBS) with low interest rates. The bank reinvested the proceeds in higher-yielding assets and paid off some debts. Pacific Premier Bank made a similar move this week.

MBS creation is weak thanks to high mortgage rates and anemic refis but one positive for the market is the October increase in agency trading volumes. A real sign of hope or a head fake?

The Federal Reserve’s push to run MBS off of its balance sheet may cause interest rates to stay high even after quantitative tightening measures cease.

Mortgage industry trade groups continue to pressure the Biden administration to intervene in the MBS market to help struggling homebuyers overcome high interest rates and low supply.

Banks make fewer jumbo mortgages in regions with poor flood mapping, but securitizable conventional lending appears unaffected.

When times turn tough, some mortgage REITs start cutting the dividends they pay shareholders, but not all. Meanwhile, book values are getting slammed. A time to buy these equities or sit on the sidelines?

Federal Reserve Chair Jerome Powell insisted the FOMC has no plans to slow the runoff of agency MBS from its balance sheet.