Investors have bid up the value of MBS the past two weeks, with agency product hitting new 52-week highs. This development benefits investors as long as interest rates don’t fall dramatically enough to spark prepayment concerns. In particular, analysts are paying close attention to publicly traded mortgage real estate investment trusts that hold agency MBS. According to figures compiled by Inside MBS & ABS, REITs held $286.3 billion of MBS at the end of June after increasing their holdings by 9.7 percent during the second quarter. Now, those bets are paying off...