Seeking Alpha

CYS management awaits pullback in mortgage prices

  • Mortgages aren't that cheap anymore, says CYS Investments CEO Kevin Grant, on the earnings call. Asked a question about the sale of MBS in Q1 and purchase of Treasurys, Grant says his team can actually create a spread with government paper similar to that of mortgages.
  • The bottom line according to CYS management: Low volume and high prices in mortgages make it a good idea to wait for a pullback before becoming aggressive buyers again.
  • Previous earnings coverage
  • Shares +1.7% premarket

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