Mortgages

The coronavirus emergency spending bill enacted by Congress in December included a provision enhancing the Low-Income Housing Tax Credit so it’s a true 4%.

It is most certainly an issuers' market as rates are low, credit spreads continue to tighten, money pours into municipal bond mutual funds at record levels and a net negative supply of more than $11 billion.

New issues priced with ease with high-grade issuers tight to triple-A benchmarks. It was the first time the municipal yield curve saw such noticeable movement, following little changed secondary activity for nearly the past two weeks.

A 'perpetual calm' continues to fall over the municipal market as inflows into municipal funds, combined with the shortage of traditional tax-exempt supply, is directing most aspects of daily market activity.

While Florida has gained jobs for eight straight months, Fitch warns it could take up to four years for the travel, leisure and hospitality sectors to recover, areas that play an important role in the Sunshine State's economy.

Refinitiv Lipper reports another multi-billion week of inflows, the domino effect from such strong flows is that secondary selling doesn’t need to be so active, creating fewer opportunities for new inquiry, analysts say.

The companies said the new offering combines ICE Data Services’ expertise in municipal bond pricing and reference data alongside ADP’s aggregated, anonymized and timely HR and compensation data.

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance.

The employment report showed 140,000 decline in nonfarm payrolls in December, but economists found some positives in the numbers.

The Connecticut Housing Finance Authority calls it a roadmap for creating greater opportunities for low- and moderate-income state residents.