Why Mortgage Bonds Are at Risk if Rates Rise—and if They Fall

Wall Street Journal, Sept. 14, 2026-Telis Demos

Many homeowners and home buyers locked in superlow borrowing rates during the pandemic. Even though mortgage rates have since risen sharply and slowed new borrowing, life has continued. First-time buyers still bought. Older mortgages were paid off. People gave up low-cost mortgages to move for family or work. And so on.

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