sorry about that,the cat jumped on my keyboard.any way higher rates don't necessarily cause the divi to drop.If the rate goes up more than likely there will be a rush to lock in rates before they go much higher.after a year maybe more,higher rates may have an effect on the amount of mortgages they write.
That's my thinking. Can't take much more of this. Near term, the anticipated rush to lock in rates is a given. Looking out, if rates continue to rise (1% is still accomodative)beyond the 1-1.25% the market already anticipates, I could see this stock back at $5. Not tomorrow, but longer term (1-2 years). Reduced mortgage writing will affect the divi.