RMBS Market Commentary

Agency MBS

Agency MBS pass-throughs performed well over the course of June, outperforming swaps. Lower coupon Fannie 30-year TBA’s, namely 4.0’s, 4.5’s and 5.0’s rose by 1.25 – 2pts. Higher coupon TBA’s rose by anywhere from 0.5-1pt. IOS.FN prices continue to come under pressure over the course of June, as mortgage rates continued to rally.

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