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With Treasury yields out to the 10-year trading well above 4% and longer maturities sitting above 5%, investors are getting better compensated for holding bonds.
GSMBS 2026-PJ2's losses are based on a senior-subordinate, shifting-interest structure and Fitch expects a 10.3% final probability of default in the AAA rating stress.
Property inspection waivers were granted on 40.2% of the underlying mortgages, reflecting an increasing trend of agency mortgages being originated without them.
Less than 45% of mortgage residential properties in the United States were equity-rich last quarter, a 1.5-percentage-point drop from the third quarter.
This week the conforming 30-year fixed rate mortgage fell 10 basis points, with Optimal Blue data showing it broke through, at least briefly, the 6% level.
