U.S. Mortgage Bonds Feel Strain of Fed Pullback Plans

Financial Times, Oct. 11, 2021–Kate Duguid, Joe Rennison
Historic lows in interest rates prompted homeowners to pre-pay their mortgages early and refinance at new, lower interest rates, according to data from the Mortgage Bankers Association, cutting the amount of interest earned by investors in bonds backed by consumers’ mortgage payments.
https://www.ft.com/content/ad191122-71ad-4362-bdb2-f18c9afd586e