Losses stemming from the 2022 vintage have been offset by excess spread, while cure and roll rates signal caution.

Much of the international trading community remains on holiday today, making for lower volume and liquidity in the US. Bonds have managed to mostly shrug off Friday's stronger jobs report--a fact that we'd attribute mainly to the focus on the unemployment rate over the balmy payroll count. Additiona

Fannie Mae and Freddie Mac should aggressively buy and restructure low-coupon MBS into CMOs rather than holding them, a move that would lower long-term mortgage rates, according to the chairman of Whalen Global Advisors.