- The largest buyer of agency MBS is going on a diet, leaving the market to absorb additional supply.
- Mortgages continue to trade at tight spreads.
- Our thoughts on the landscape and recommendations.
Rexford has very desirable properties and locations, a conservative balance sheet and e-commerce focused tenants, all characteristics that should continue to drive performance. While the new preferred is not the highest yield in the group, it is worth considering for income focused portfolios.