Angel Oak REIT posted an $8.3 million profit in the third quarter, after spilling red ink in the second quarter.

Demand for mortgages from banks declined in the third quarter and many banks further tightened underwriting.

In October, the top five volume leaders in agency MBS issuance were all nonbanks, led by PennyMac Financial...

Wide spreads are putting pressure on the value of MBS held in portfolio while also offering attractive yields for new investments.

ARMs accounted for 10.7% of mortgage applications last week.

Redwood Trust spilled red ink in the third quarter but expanded its jumbo portfolio and bank partnerships over the last three months.

Prices were up 5.6% on an annual basis in August, according to FHFA.

For the first nine months of 2023, the market was down 43.1% from a year ago...

Sales of agency MBS holdings by banks are driving prices down, a reduction in portfolio lending by banks is helping to spur ABS issuance and the CMBS market is waiting for banks to take write-downs on commercial loans.

"Higher for longer" is beginning to sink in.