Private Mortgage Securities Fall Below $1T

Defaults and pay downs reduced the total amount of outstanding mortgages financed by private securities to below $1 trillion for the first time since 2003, according to Amherst Securities.

The entire private-label market stood at $999.7 billion in July, down from $1.17 trillion one year ago. Over the last year, it declined an average 1.4% per month, according to Amherst.

For more on this article click the link below…

http://www.housingwire.com/news/private-label-mbs-market-drops-below-1-trillion

This is a good sign that the economy is slowly trying to come back in the housing market!

Until next time have a good week, Joe

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About Jconowitch

I have spent 36 + years in Stevens County enjoying the many surrounding recreational areas while camping, canoeing, hiking and backpacking. I am married to my high school sweetheart with 2 children, 5 awesome grand kids. I have been actively involved working with many organizations to help children and adults throughout the area, as well as starting the Stevens County Scale Model club with a good friend. If you want to live and raise your family in a fantastic area or find a peaceful area to retire, this is among the best, and I am here to help you make your dreams a reality!
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