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The housing-backed investment vehicles that fueled the financial crisis are enjoying their best stretch in years
  • Mortgage-backed securities hit a three-month winning streak after outperforming US Treasuries through November, Bloomberg reported Monday.
  • The surge was primarily driven by lower refinance rates and a drop in volatility for mortgage-backed assets. When more borrowers refinance loans with lower interest rates, the securities lose their appeal against Treasury bonds.
  • The assets gained new fame in 2008 when subprime mortgage-backed securities powered the year's housing market meltdown and subsequent recession. Those who bet against the assets won millions and even billions when the housing bubble popped.
  • Visit the Business Insider homepage for more stories.

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Full "The Business Insider: The Money Game" article




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