Prime residential mortgage-backed securities issuance in the United Kingdom declined 11% to 10.5 billion pounds sterling (about $21.7 billion) in the third quarter, according to a report from the Frankfurt office of Moody's Investors Service."U.K. housing data continues to show signs of softening, although house price inflation remains high," said Nitesh Shah, a Moody's economist and co-author of the report. "The mortgage debt service ratio also remains high and the 'payment shock' to mortgage holders coming off the fixed interest rate period of their mortgages may increase the stress on householders." Moody's can be found on the Web at http://www.moodys.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry