The mortgage market’s quiet revolution
From The Weekly Fix by RBC Global Asset Management (U.S.) Inc.
June 2, 2026 · 5 min · Episode 132
About this episode
Teri Savage discusses the evolving role of mortgage-backed securities in fixed-income portfolios amid changing economic conditions.
Built for this moment: Mortgage-backed securities are earning their place in fixed-income portfolios amidst an uncertain rate environment. Teri Savage, Senior Trader on RBC GAM's BlueBay U.S. Fixed Income team, unpacks how securitized sectors are navigating sticky inflation and shifting Fed expectations. Agency mortgages continue to act as a vital defensive anchor for portfolios during periods of broader macro uncertainty. The upward move in 30-year mortgage rates reflects a market transitioning to a higher-for-longer narrative regarding monetary policy. With contained net supply and stable prepayments, mortgage spreads present a highly compelling alternative to corporate credit.
People in this episode
Guest: Teri Savage
Topics covered
- mortgage market
- mortgage-backed securities
- fixed-income portfolios
- inflation
- monetary policy
- corporate credit
Keywords
- mortgage market
- mortgage-backed securities
- fixed income
- inflation
- monetary policy
- corporate credit
- 30-year mortgage rates
Mentioned in this episode
Organizations: RBC GAM, BlueBay U.S. Fixed Income, Federal Reserve
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