The MReport Webcast: Tuesday 7/14/2015

Consumer expectations for the housing market are showing a slightly more positive outlook for the U.S. economy, according to the Federal Reserve Bank of New York’s June 2015 Survey of Consumer Expectations released on Monday.

According to the NY Fed, median home price change expectations rose from 3.3 percent in May to 3 point 5 percent in June, its highest reading this year. The survey credits southern respondents as the cause for the rise in median home price expectations. On the other hand, median home price uncertainty declined from 3.6 percent in May to 3.1 percent in June, the lowest reading since the survey began. Median household income growth expectations remained steady at 2.9 percent, with an increase for younger household heads but a decline for household heads in the 40 to 60 age range.

The issuance of new U.S. prime jumbo residential mortgage-backed securities is set to exceed last year’s levels thanks to a strong second quarter of RMBS issuance, according to Fitch Ratings’ quarterly U.S. Prime Jumbo RMBS Trends report. The report notes that eight jumbo RMBS deals came to market in second-quarter 2015 from six issuers. According to Fitch, the $7.1 billion’ worth of RMBS issuance thus far in 2015 is on track to surpass not only the 2014 total of $8.3 billion, but also the 2013 total of $13.1 billion.