Global Issuance of Mortgage-Backed Securities Falls to a 23-Year Low

The issuance of global mortgage-backed securities (MBS) slumped to a 23-year low in the first four months of this year, highlighting the turmoil in the real estate sector as higher mortgage rates hit property sales and refinancing. The property sector, often a leading indicator for other economic activity, has seen a slump this year due to a spike in mortgage rates as global central…