Is the Mortgage Spread So Wide?

We didn't expect this gapping out of the mortgage spread and thus the ortgage rate. Why is that spread so wide? I guess it comes down in essence, to beck, always to supply and demand on the m b s side. Some lack of liquidty, or you have investors worried abouta prepayment risk, putting in some additional premium. And that that goes to what's going on over here in london, in uk, which we'll come back to. But it also fed policy. As long as the fed's on the war path, and people don't really know when that's going to come to an end and at what rate they're going