Turning to non-agency MBS (webcast), JPMorgan gets even more bullish. Key is their expectation...

|By:, SA News Editor

Turning to non-agency MBS (webcast), JPMorgan gets even more bullish. Key is their expectation of 3-5% growth in home prices (with upside potential) in 2013. While the paper is likely to retain some correlation with risk on/risk off, the fundamentals of improving housing - rising prices, declining distressed sales, declining shadow inventory - will be of growing importance. (previous on MBS)