Does anyone have the calculus for how each increment of rate increase will effect earnings? I believe the market may over compensate for the potential of higher rates. A 4% drop already may be too much of a reaction.
NCT had been dealing primarily in non-agency transactions so realistically the rate increases don't effect them like they will many of the other RIET's. The drop in price today was primarily a general trend in the sector due to fear and ignorance.