a a up borrowing of and quarter, then a XX summer points quarter benefited questions. few Fed we'll in to After open and basis total lowered remarks, brief you, give the follow last Lance and due part from recap cuts Fourth fall. earnings large the rates, of Thank will Lindsey.
swaps swap We higher costs interest also with lower fixed our rates. reduce to rates rate by with prevailing took new lower replacing further advantage swaps of
continued returns contributed at pressures Additionally, This in to Note, improvement capital short-term securities borrowing earnings to to look in other referenced that guaranteed pressures, ARM funding and I not rate rate repo funds availability. elevated floor the relative practices. rates markets despite on Fed our rates. and short-term the agency came
and find rates of that elevated funding that counterparty. We lower continue incurred banks relative a to our pressure be market. in we rates rates on than post-quarter-end, upward caveat disincentives reduces degree available repo repo perspective, XX readily rates to funds basis XX remain short the Fed of even to or points participate fully through seeing to some still the release each historical asset repo network quarter, we're with regulatory major as last And lending expect for the from other quarter going average that term forward,
these dynamics, the underlying portfolio mortgages attractively and portfolio most, may These portfolio rates the reset an anticipate in of reset significant environment with levels of current for where not lower acquisitions, will prepayment XXXX. we offset sidelines to somewhat Reserve costs yields improvement forward Federal lower priced on Given the further lower going of together serve costs, be borrowing our remain the all, if component borrowing elevated. as our mortgage
the turn I'll that, Lance. With call to over
