If the private-label residential mortgage-backed securities market can get past the fiscal cliff, it might not do too badly in 2013.
“In the macro environment, over the short term, the fiscal cliff has the potential to sidetrack some of the positive momentum we’ve seen in the market as of late, but I think—absent that—we are optimistic and…we are going to continue to see a recovery heading into 2013,” Rui Pereira, managing director, head of U.S. RMBS for Fitch, told this publication.
“With that said, it’s not national, and—depending on which market you are looking at—I think the trends and conditions could look quite different,” he added.
“But I think, all in all, the market has troughed, at least from a home price standpoint. We’re suddenly much more optimistic than we’ve been in a while.”