Three classes of mortgage pass-through certificates issued by Banc of America Alternative Loan Trust series ALT 2006-6 have been downgraded by Fitch Ratings.The downgrades were as follows: class B3, from BBB to BB; class B4, from BB to B; and class B5, from B to C/DR5. Fitch also affirmed the ratings on 34 classes from the transaction. The downgrades were based on a deterioration in the relationship between credit enhancement and loss expectations, Fitch said.
Over one-third of the Wolters Kluwer survey participants believe the next Fed move will be to boost short-term rates, but most expect one cut next year.
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
The new Mortgage Bankers Association research adds to debate over whether Fannie Mae and Freddie Mac should allow a less costly alternative to the tri-merge.
Wide regional variances appeared in housing-start activity in 2025, when the traditional leading builder markets all saw numbers decline by as much as 15%.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.
