FHLB Raises Agency MBS Limits; Existing Home Sales
FHLB boosts agency MBS limit...
Today, the Federal Housing Finance Board enabled banks in the Federal Home Loan Bank system to expand their holdings of Fannie Mae and Freddie Mac securities.
Regional U.S. banks will be allowed to boost holdings of mortgage-backed securities by more than $100 billion for the next two years.
Existing Home Sales Feb +2.9% 5.03M vs prior 4.89M Full Report
Breaking a 6 month streak of declines, however, YOY -23.8%. SFR sales +2.8%; YOY -22.9%
Median price -8.2% YOY at $195.9K; the sharpest decline since records began in 1968. West -13.4%. SFR prices -1.6%; -8.7% YOY at $193.9K.
Inventory -3% to 4.03 million units, a 9.6 vs 10.2 months supply. However, YOY +39%. SFR Inventory -8%; at 9.2 vs 10 months; YOY +39.4%.
Today, the Federal Housing Finance Board enabled banks in the Federal Home Loan Bank system to expand their holdings of Fannie Mae and Freddie Mac securities.
Regional U.S. banks will be allowed to boost holdings of mortgage-backed securities by more than $100 billion for the next two years.
Existing Home Sales Feb +2.9% 5.03M vs prior 4.89M Full Report
Breaking a 6 month streak of declines, however, YOY -23.8%. SFR sales +2.8%; YOY -22.9%
Median price -8.2% YOY at $195.9K; the sharpest decline since records began in 1968. West -13.4%. SFR prices -1.6%; -8.7% YOY at $193.9K.
Inventory -3% to 4.03 million units, a 9.6 vs 10.2 months supply. However, YOY +39%. SFR Inventory -8%; at 9.2 vs 10 months; YOY +39.4%.
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