- mREITS with large holdings of Agency guaranteed RMBS and CMBS securities occupy a unique position within the wider mREIT sector.
- While the Federal Reserve is an active participant in the Agency-eligible securitized mortgage market, Agency mREITs can outperform more diversified mREIT baskets.
- By most measures, the primary mortgage market outperformed in 2020. Demographic shifts and the "home office" premium should support the primary home purchase market into 2021.
- NLY, AGNC and TWO are all positioned to enjoy outsized benefits from Federal Reserve support of the money and securitized mortgage markets.
For further details see:
QE Firmly In Gear - Macroeconomic Tailwinds For Agency MBS mREITs