Slowing U.S. Residential Mortgage-Backed Securities market
Dollar volume issuance declined 11.2% in 3Q
- Up 6.6% through nine months of this year
Number of deals coming to market increased 1.7% in 3Q
- Up 18.8% through nine months of this year
Activity in U.S. driven primarily by Alt-A sector and refinancing of adjustable rate mortgages
- S&P continues to benefit from increased number and mix of deals in non-agency market