Inflation is expected to continue “to decline across all horizons” over the next year while home price growth, too, is projected to decline “sharply” to the lowest level since July 2020, per a new survey from the Federal Reserve Bank of New York.
The common theme in the earnings results for both REITs is the impact of fast rising interest rates and general rate volatility on their residential mortgage holdings and operations.
The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp.
Angel Oak confronts the challenges of market volatility, fast-rising rates housingwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from housingwire.com Daily Mail and Mail on Sunday newspapers.