Yields on Fannie Mae and Freddie Mac mortgage securities that guide US home-loan rates fell to the lowest in more than a year and many of their notes rose near record high prices as investors seeking safe debt wager prepayments will stay manageable. The yield on Fannie Mae’s current-coupon 30-year fixed-rate mortgage bonds, or those trading closest to face value, dropped to 3.88%.
Most Popular Articles
The housing market is signaling there will be an economic recession by the 2020 election, according to Benn Steil, director of international economics at the Council on Foreign Relations.
Foreclosure activity sank in the third quarter of 2019, dropping to the lowest level in nearly 15 years, according to the latest report from ATTOM Data Solutions. Foreclosure activity in the third quarter fell 19% from a year ago to the lowest level since the second quarter of 2005, a 13-year low.