Liquidity Premiums for VIRMs vs for fixed rate mtgs

if a bank’s VIRM liquidity premiums have been increasing a lot more than the liquidity premiums for fixed rate mortgages, what could cause this? can someone plz explain waht are the different factors that have effects on VIRM liquidity premiums but not on fixed rate mortgage premiums? thanks!

Gotta be the securitization climate right now, but I don’t know the particulars.

thx joey but just wondering what do you mean when you say it has to be the securitization climate right now. swap rates have been falling since last year, could that be what the securitization climate refers to?