US mortgage bond spreads narrower on stronger buying - 2004-03-02
U.S. mortgage-backed bond prices dropped with U.S. Treasury prices on Tuesday, but higher
yields took in buyers of mortgage securities to narrow bond yield spreads.

"People have been very patient in waiting to put money to work at the higher yield levels," said Martin Mitchell, manager of government and mortgage bond trading at Legg Mason Inc.
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Home Price Drop Unlikely When Mortgage Rates Climb - 2004-03-02
A widespread drop in U.S. home prices is unlikely even when mortgage rates begin to climb from historically low levels, according to a new Federal Deposit Insurance Corp. report.

Home prices may fall in certain areas, particularly in cities where prices have recently risen sharply, but it is "highly unlikely" housing prices will fall dramatically across the country when mortgage rates rise, the FDIC says in its latest FDIC Outlook report.
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