Moody's Investors Service, in a note released Thursday, said it will boost loss projections for most U.S. residential mortgage-backed securities over the next few weeks. However, the related comments were the most interesting part of this note:
"...Moody's said it now expects a trough in home prices won't be reached until the middle of next year...Moody's said in addition to borrowers' financial pressure, unemployment is now projected to peak at over 10% in mid-2010 and remain in the high-single digits for two years after they peak."
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