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Higher Rates Could Pose Threat.(interest rates/ mortgages)(Brief Article)
With interest rates rising and home prices poised to decline, the duration of RMBS transactions is likely to extend and defaults may rise, according to Standard & Poor's.
However, S&P said that the potential rise in defaults and losses should be covered by the availability of more excess interest.
Credit analyst and S&P director Terry Osterweil, who spoke at the rating agency's recent conference in Orlando, Fla., said that the RMBS industry faces several new challenges in a rising rate environment.
S&P developed a "housing volatility index" in 1998 to predict the volatility of house prices across the country.
"Current data are showing a shift toward more volatility in house price changes. This has resulted in an increase in market value declines, and therefore increased ...
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Source: HighBeam Research, Higher Rates Could Pose Threat.(interest rates/ mortgages)(Brief...