As investors sift through the tea leaves of the bond market, the average daily trading volume in agency MBS increased 11% in July from the month prior. But where we go from here is anyone’s guess.

It’s here: A mortgage-backed security, 15-years in duration, that pays investors a note rate of 1.5%. Would you lock up your money for that long? You may not have a choice.

The REIT’s plan to terminate its management agreement with PRCM “for cause” would let it off the hook from paying a $144 million termination fee. But PRCM isn’t going down without a fight.

The average daily trading volume in MBS continues to head south as new creation proliferates and investors worry about the Dow blowing up again.

With overnight funding in the agency repo market hovering around 15 basis points and term repo rates a shade above the one-month LIBOR, yields for agency mREITs could edge upward, KBW analysts predict.

There’s nothing wrong with buying delinquent mortgages out of Ginnie pools, but some issuers may have been getting too greedy during the pandemic.

Economists at the Federal Reserve Bank of New York found that having both to-be-announced and specified pools markets increase yields for MBS in both places.

The CRT market is showing signs of post-pandemic recovery. But Freddie Mac’s former CEO believes the re-proposed capital rule for the GSEs could make the whole CRT program pointless.

New Residential is coming to market with a security backed by Fannie Mae MSRs. As for the cost of the paper, details were sketchy.

The two real estate investment trusts saw red ink in the first quarter as they were forced to sell assets when prices plummeted. MFA raised capital this week while AGMIT is considering its options.