Mortgage Market Dynamics
Tom discusses the relationship between the move index and mortgage rates, emphasizing how volatility influences costs. He highlights the current attractiveness of mortgages in the market, noting that while spreads are wide, negative convexity remains a significant hurdle. As interest rates fluctuate, the performance of mortgages has lagged behind corporate bonds, despite initial optimism among money managers.In this clip
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Why Mortgage Rates Went Up After the Fed's Big Cut
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