20.07.2012 - Mortgage bonds yield hopeful signs on housing recovery
In the latest sign that the real-estate slump may have hit bottom, the bond investors who are among the most exposed to the vagaries of the housing market are finally starting to price in a recovery. Nonagency mortgage bondsórepresenting $1.1 trillion in mortgage debt that isn't guaranteed by a federal agency like Fannie Mae or Freddie Macóhave already gained 3% to 10% this year, in part because investors are reversing the most pessimistic estimates of losses they may suffer because of delinquencies...............................................Full Article: Source
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