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With no evidence other than my own reasoning, I propose this hypothesis: There just wasn't anyone enthusiastically looking to trade up to that spot, I guess.
It's been pointed out elsewhere that the Pats trade back apparently occurred immediately after Tampa Bay traded up to 58 to nab Lavonte David. It's possible that BB was locked in on David at that point in the draft, and when he was taken BB was left without a player that he valued worth the #62 pick.
Two things to consider:
1. Time considerations. I believe that only 7 minutes was allowed between picks, so if the Pats decided to trade down starting around #58 they had less than 30 minutes to work out a trade before selecting someone at 62.
2. Player considerations. There just weren't that many exciting players left on the board after Lavonte David. I had only 4 guys who I had rated worth the #62 pick left on my board at that point: DBs Trumaine Johnson (and we had already taken Tavon Wilson over Johnson) and Alfonzo Dennard (who had been dropped down due to his arrest); and DTs Alameda Ta'amu and Brandon Thompson. Obviously BB didn't rate those guys as highly, or anyone else. I think that there's more involved than just taking a player at a particular spot - BB doesn't want to overpay a guy as a 2nd round pick who he doesn't believe is worth it. But apparently no one else was excited enough about the prospects left on the board to offer very much, either.
While BB got terrible point value for his trade backs, he got excellent player value. Dennard was a late 2nd round talent by himself, Bequette is a solid addition, Ebert was a nice late round pick, and Ebner is one of the most intriguing wild cards in the draft. I'm not happy with "what" we got for the pick, but I'm ok with "who" we got.