|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||8.53 - 8.73|
|52 Week Range||4.80 - 13.70|
|Beta (5Y Monthly)||2.05|
|PE Ratio (TTM)||859.25|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Sep 11, 2008|
|1y Target Est||N/A|
(Bloomberg) -- The wave of homeowner refinancings sparked by record low rates isn’t likely to slow down anytime soon, according to Wall Street forecasts.Wells Fargo & Co. mortgage analysts said that Fannie Mae 30-year aggregate speeds could rise 1% with the so-called daycount unchanged at 21 days and the lending rate down a further six basis points. Citigroup Inc. analysts project conventional speeds to increase by 2%, though they forecast government-backed Ginnie Mae II MBS speeds will drop by 7% as buyouts of loans in forbearance slow.In September, aggregate Fannie Mae 30-year prepayment speeds increased to 35 CPR, their fastest since April 2004. This means that should the current level hold, about 35% of the principal balance within those mortgage-backed securities will be prepaid annually. As American homeowners do this at par and Fannie 30-year MBS are trading at a premium, this can weigh on performance for investors.This prepayment wave may have staying power, judging by the Mortgage Bankers Association’s refinance application index, which has remained within an elevated range since March. A confluence of record low lending rates, rising industry capacity, the growing use of technology by lenders and rapidly increasing home prices have come together to create the perfect refinance environment.Mortgage lenders have responded to the outsized demand. Bank of America Corp. analysts wrote in an Oct. 23 report that originators are adding headcount to increase their capacity at a steady clip, a trend that could soon boost speeds by 14% to 27%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Announcement: Moody's Fully Supported Municipal & IRB Deals Global Credit Research - 27 Oct 2020 New York, October 27, 2020 -- ASSIGNMENTS: The Housing Authority of Clayton County, Georgia, Multifamily Tax-Exempt Mortgage-Backed Bonds US$ 21.
Moody's Investors Service (Moody's) has assigned a Aaa rating to the proposed $21,550,000 of the Housing Authority of Clayton County, Georgia, Multifamily Tax-Exempt Mortgage-Backed Bonds (Flats at Mount Zion Project), Series 2020A. The Aaa rating of this forward MTEM transaction is based on the high credit quality of the Federal National Mortgage Association (Fannie Mae, Aaa stable) mortgage-backed security (MBS) and strong legal structure where principal and interest are passed through to bondholders monthly. Fannie Mae is providing a forward commitment to guaranty the permanent financing by issuing the MBS after the construction phase is complete.