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More on Capstead Mortgage (CMO) Q3 earnings: Net interest margin declines 20 basis points to...

More on Capstead Mortgage (CMO) Q3 earnings: Net interest margin declines 20 basis points to 1.3%. Falling yields on MBS killed returns, but drove book value higher. Constant prepayment rate (CPR) of 18.7%, a big jump from Q2's 15.9%. Company believes its holdings of ARMs make it less exposed to falling rates as the average rate on its mortgages is already just 3.37%. Earnings call tomorrow at 9 ET. Shares +1.4% AH. (PR)
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