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New York Mortgage Trust Inc. Message Board

  • mintwaxed115 May 16, 2013 10:36 AM Flag

    The Fed hints on tapering or dialing back on its quantitative easing program

    "Officials say they plan to reduce the amount of bonds they buy in careful and potentially halting steps, varying their purchases as their confidence about the job market and inflation evolves. The timing on when to start is still being debated.

    "The Fed’s strategy for how and when to wind down the program is of intense interest in financial markets. While the strategy being debated leaves the Fed plenty of flexibility, it might not be the clear and steady path markets expect based on past experience."

    mREITs have recently suffered on Fed hints of tapering back however, wouldn't a reduction in mortgage bond purchases allow the long end to raise thus increasing spreads? Assuming, of course, they hold the short end at or near zero. It's my understanding that the whole idea of QE was to lower the 15 and 30 year mortgage rate to induce home purchases and boost the economy. Therefore I see no reason for anyone to throw NYMT under the bus if or when the Fed begins a pullback of QE. Comments?

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