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Posted To: Pipeline Press
Flipping over to the non-agency sector, uh oh: is the demand for "private label," nongovernment-backed residential mortgage securities dropping, or is the supply increasing? Bloomberg reports that, "Yields on $397.3 million of top-rated securities sold yesterday by Redwood Trust Inc. were 175 basis points more than benchmark swap rates, up from 170 basis points on bonds it sold earlier this month and 97 basis points, or 0.97 percentage point in January. Sales this year of home-loan bonds without government backing have already surpassed the highest annual total since the debt sparked the global financial crisis." Here is the story. What does this Redwood Trust price action mean for the average guy on the street? In simple terms, investor demand helps drive rates, as does the supply: if no investor...(
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Source:
http://www.mortgagenewsdaily.com/channels/pipelinepress/04262013-mortgage-training-redwood.aspx - For more real estate news visit our website at http://www.AzHomeHelp.com
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