Foreign investors’ net agency MBS purchases, not taking into account paydowns, increased in March, according to a Credit Suisse report released Monday morning.
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The $14.6 billion in net purchases of mortgage-backed securities during the month was significantly higher than what was seen in the previous two months, Mukul Chhabra, vice president, MBS strategy, at Credit Suisse, said in the report. Net purchases of this type totaled $3.3 billion in February and $6.3 billion in January.
After accounting for paydowns, foreign investor holdings of agency MBS increased $4.4 billion in March. This marked the reversal of a downward trend seen in February and January when equivalent net holdings dropped by $9.9 billion and $11.2 billion, respectively.
