Dynex's book value per common share fell 15.4% to $10.91 as of Sept. 30, from $12.90 at June 30, mainly due to wider Agency MBS spreads. Total economic return was -11.5% for the quarter, and comprehensive loss was $1.49 per share versus comprehensive income of $0.80 in the second quarter. The company raised $384 million, including $268 million of common equity through its at-the-market program and $116 million from 9.375% Series D preferred stock, its first preferred offering in more than six years. Leverage rose to 9.0 times shareholders' equity from 8.1 times, and estimated book value was $10.95 per share as of Oct. 16. Management said current conditions offer attractive opportunities given historically wide mortgage spreads.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on fool.com ↗
Keywords
Dynexmortgagesbondsinterest rates
Open a keyword to see other news on the same topic.
Related news
- Today mortgage rates : Posted lender rates hold across the board
Eight lenders tracked by RateZip left all 27 posted rates unchanged on Monday. Freddie Mac's average 30-year fixed mortgage rate was 7.40% in the week ending October 15, 2026, unchanged from the prior week. Among posted 30-year rates, AmeriSave's 6.25% and New American Funding's 7.5% create a 1.25-point gap, worth about $334 a month on a $400,000 loan. The 10-year Treasury yield closed at 5.10%, down 12 basis points over the past week, while RateZip's Mortgage Demand Index showed September 2026 inquiries 4% lower than August but 99% higher than a year earlier.
- Mortgage Rates Today , Monday , October 19 : Starting the Week Lower
The average 30-year fixed mortgage rate fell to 7.20% APR, 15 basis points below Friday and 12 basis points below a week earlier. The decline began last week as doubts about AI profits weighed on tech stocks and pushed investors toward Treasuries, lowering the 10-year Treasury yield to which mortgage rates are generally tied. The article notes that rates also move with inflation reports, jobs data and Fed meetings, and that inflation is still running hot. It adds that borrowers with a current rate around 7.70% or higher might consider refinancing if new rates are at least 0.5 to 0.75 percentage points lower.
- US home builders have the blues but luxury housing remains a bright spot
Confidence among U.S. home builders fell to its lowest level in 14 years, as the builder index dropped three points to 29 last month, the lowest since June 2012. Experts blamed high mortgage rates, inflation, rising living costs and a tough labor market, and buyer traffic fell to its lowest since April 2012, excluding the pandemic's onset. Over four in 10 builders cut prices last month, and many are offering incentives to keep homes selling. Luxury housing remains a bright spot: one in four Toll Brothers clients paid cash, and luxury home prices rose faster than new starter-home costs in 33 of 50 cities, according to the Wall Street Journal. Redfin estimates that it will take about five years for housing costs to return to a “normal” level relative to income.
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence fell to its lowest level since 2012 according to the NAHB and Wells Fargo Housing Market Index, a 14-year low driven by rising mortgage rates and higher energy and material costs. The headline index rose one point to 38 in March but remained below the breakeven level of 50 that separates positive from negative conditions. NAHB Chairman Bill Owens said affordability remains a top concern, while Chief Economist Robert Dietz pointed to global events and energy prices as headwinds and said efforts to ease regulatory burdens could help long-term supply.
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence has fallen to its lowest level since 2012, a 14-year low according to the NAHB and Wells Fargo Housing Market Index. Rising mortgage rates and higher energy and material costs are keeping more buyers on the sidelines, as NAHB Chief Economist Robert Dietz noted. The headline index edged up one point to 38 in March, a slight gain that remains well below the breakeven level of 50. NAHB Chairman Bill Owens said affordability remains a top concern for both buyers and builders, who face elevated land, labor, and construction costs. Dietz pointed to global events and energy prices as potential headwinds, while efforts to ease regulatory burdens on homebuilding could help improve long-term housing supply.
- Bank of America: 2027 mortgage originations to drop to $1.72T
Bank of America projects 2027 mortgage originations of $1.719 trillion, with only about $344 billion from refinances, a 15% decline from the $2.030 trillion expected for 2026. The bank's outlook is slightly lower than other industry forecasts, citing weaker housing market conditions and home sales and a marginally higher projected year-end rate level. It is the third major forecast to put origination volume below $2 trillion next year, after the MBA's $1.99 trillion forecast (down 5%) and Fannie Mae's $1.86 trillion. On the capital markets side, BofA expects agency MBS gross issuance of a little more than $1.12 trillion in 2027, down from about $1.33 trillion this year. The analysts frame 2027 as a replay of 2023, with elevated rates, subdued housing and a lock-in effect, but argue it could be even more challenging as demand-supporting forces fade.
Related markets
Latest news
- Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out
Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
- Coteccons Chairman Bolat Duisenov reveals new direction: expanding home construction for individual customers
At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
- UPS Yields 6.7% After Firing Amazon. Here's Whether the Dividend Survives 2027.
UPS shares yield 6.7% as of October 16. The company has moved away from high-volume, low-margin Amazon deliveries and froze its dividend earlier this year, ending a 16-year streak of increases. The article says the payout will likely remain frozen through 2026 and 2027, citing competition from 10- and 30-year Treasury yields above 5% and other industrial dividend payers, but calls the dividend's safety questionable: UPS generated $5.47 billion in free cash flow in 2025, with $5.4 billion going to dividends, and free cash flow is projected to fall to $5.05 billion in 2026 and $5.01 billion in 2027, with the dividend absorbing about 98% of 2026 free cash flow. Rising competition and high fuel prices add pressure, and the article suggests investors may find more safety in the industrial sector.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
X-Energy (NasdaqGS:XE), American Electric Power and Amazon agreed to assess a 960 MW advanced nuclear project in Indiana using Xe-100 reactors, on a former coal plant site. Under the joint development agreement, Amazon would provide development funding and commit to a long-term power purchase. The article says the deal offers commercial validation for X-Energy's reactor platform rather than immediate financial relief, as the company, with a $4.3b market cap, reported $150.28 million in revenue, a $448.87 million loss, and a 20.2x price-to-sales ratio. The next key milestone is whether the study reaches a final investment decision for the Sullivan County site.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.