The mREIT (MORT +1.6%) sector gains with sliding averages always good for creating a bid for the...

|By:, SA News Editor

The mREIT (MORT +1.6%) sector gains with sliding averages always good for creating a bid for the sector, and as the industry continues to present en masse at the KBW Mortgage Conference (earlier). The gist: It's clearly been a bad year for mortgages (see WMC presentation, page 7), but spreads are far wider now than they were several months ago (when the bear case was spreads were too narrow). Buyers of mortgages now are getting far better pricing. Leading are Two Harbors (TWO +3.5%), (presentation), Chimera (CIM +2.7%), Ellington (EFC +1.9%), (EARN +0.1%), (presentation), PennyMac (PMT +3.9%), (PFSI +0.5%).