After looking at the gap in home values as perceived by homeowners and appraisers, it became apparent that consumers significantly over estimated the value of their homes during the 2008 and 2009 downturns. This time period became one of the worst housing markets in decades, and caused millions of mortgage applications industry-wide to be restructured or denied. To help prevent this in the future, we’ve introduced two new exclusive indexes.
Treasuries and mortgage bonds are slightly lower this morning after advancing the last few days. Improving equity markets globally have slowed demand for the securities.