With Mortgage Rates “Stuck” Above 6%, This 8.5%-Yielding Stock Shines

Have you refinanced your house recently? Me neither. Somehow, for our house it’s already four years ago , though I can remember the transaction like it was yesterday. Full credit for the smart financial move to my wife, who asked about refi timing over (and over) and fortunately got it through my thick head before interest rates really started to rise. Fed Chair Jay Powell was running the printing presses like crazy and long rates (mortgage included) would eventually lift from basement levels. When refi activity slows, it is bullish for elite 8.5%-yielding Rithm Capital (RITM) . RITM, our old Contrarian Income Report friend, smartly purchased a stockpile of mortgage service rights (MSRs), which gain in value as rates grind sideways or up.… Read more