Book value was $31.64 at start of year and $28.93 last quarter and is expected to be in the $26 to $26.50 range unless something unusual impacts it by quarters end. The trend is down and mortgage rates have moved higher, but they are still historically very low, and the Fed hasn't even begun tapering its bond buying program or even hinted at raising short-term rates. REITS are very risky plays for the foreseeable future unless you plan to pop in and out which doesn't make sense if your here for the divvy.
Until QE is history and interest rates have settled there will be a sell off before every scheduled FED announcement. No need waiting for the non speech. Then the market can sell the day before or week before , many will say to hell with it.