Larry, here are links to the Odd Lots podcast that Adam referenced to go more in-depth on why there is a higher premium on mortgage rates versus Treasuries in 2022-2024.
excerpt: So, you know, this fueled a lot of extinguishing of those balances and you know, you bought what you thought was a seven-year asset and you know, it turned out that it was a five-year asset and then you know, 2022 happens and all of a sudden you're holding a 10-year asset.
Larry, here are links to the Odd Lots podcast that Adam referenced to go more in-depth on why there is a higher premium on mortgage rates versus Treasuries in 2022-2024.
Paywall: https://www.bloomberg.com/news/articles/2022-10-27/transcript-a-broken-market-is-causing-mortgage-rates-to-surge
Gift thru 04/29/24: https://www.bloomberg.com/news/articles/2022-10-27/transcript-a-broken-market-is-causing-mortgage-rates-to-surge?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTcxMzc5MDEzOCwiZXhwIjoxNzE0Mzk0OTM4LCJhcnRpY2xlSWQiOiJSS0YyTjdEV1JHRzEwMSIsImJjb25uZWN0SWQiOiJRM1IxTFI1SkxWUDJIUlozUU5DQlhPMFYzRUVIUTAxMSJ9.l2b8XYah-SVDs0saA9D18TlYqA9mCHeXMhc5fYILlOM
Search for Guillermo: (05:36)
excerpt: So, you know, this fueled a lot of extinguishing of those balances and you know, you bought what you thought was a seven-year asset and you know, it turned out that it was a five-year asset and then you know, 2022 happens and all of a sudden you're holding a 10-year asset.
Audio:
Podcast, No paywall: https://omny.fm/shows/odd-lots/a-broken-market-is-causing-mortgage-rates-to-surge
Paywall: https://www.bloomberg.com/news/articles/2022-10-27/odd-lots-podcast-why-are-mortgage-rates-so-high