Multifamily Bonds Surging to Record Highs

Bloomberg online...By Sarah Mulholland - Apr 9, 2012

Bonds backed by Fannie Mae and Freddie Mac tied to apartments soared to a record as the government-supported mortgage companies made low-cost loans on rental properties amid a continued slide in home values.

Fannie Mae, Freddie Mac and Ginnie Mae sold $13.5 billion of securities tied to the buildings in the first quarter of 2012, an 81 percent increase from the year-earlier period and up from $5.2 billion issued in all of 2008, according to data compiled by Bloomberg. It’s the highest quarterly issuance since records began in 1993.

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This is another good sign for the modular home industry.