Mortgage REIT owners shouldn't take any comfort from recent downticks in mortgage refinance...
Thursday, November 1, 2012, 9:27 AM ETMortgage REIT owners shouldn't take any comfort from recent downticks in mortgage refinance activity, says American Capital Agency CEO Gary Kain on the earnings call. Interest rates ticked up a bit and mortgage companies have capacity issues, but don't expect either to last. He again points out, AGNC's concentration on low balance mortgages protects it somewhat from prepayment risk.
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