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CHMI - Up 19% On Cherry Hill Mortgage Investment And Still Bullish
Cherry Hill Mortgage Investment Corporation
Cherry Hill Mortgage Investment (CHMI) is a mortgage REIT. REITs fund their portfolio by borrowing short-term money and then purchasing long-term income-producing assets. The borrowed money is known as "repurchase agreements," or "repo" for short. REITs need low rates on their repos to keep their costs as low as possible.
Repurchase Agreements
A repurchase agreement is a short-term loan. The cost of using repurchase agreements has been declining, but it remains elevated compared to where the rates "should be." The chairman of the Federal Reserve, Jerome Powell, already has spoken about addressing