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GLEN ALLEN, Va. (AP) - Dynex Capital Inc., a real estate investment trust, said it still plans to invest in mortgage-backed securities even as the market for those investments remains in turmoil.
Dynex reiterated its intention to buy securities backed by Fannie Mae and Freddie Mac, although it hasn't yet.
An increase in defaults on the loans underlying these types of securities has scared away many investors. Some holders of the securities have been forced to sell them, but prices are depressed because there are few buyers and that sends prices down further.
"We are aware of the volatility in the marketplace today, and we are focused on investing our capital conservatively," Dynex CEO Thomas Akin said.
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