NY home loan provider a hit with investors

A heightened demand for municipal market bonds has driven down borrowing costs at the State of New York Mortgage Agency, which provides subsidized home loans to low- and moderate-income families, according to Bloomberg news. The agency’s borrowing costs have declined 31 percent since April, according to data tracking firm Municipal Market Advisors, amid investors’ increasing interest in the perceived stability in municipal holdings. Matt Dalton, CEO of White Plains-based Belle Haven Investments, said that the New York Mortgage Agency bonds are particularly attractive to New York-area buyers. “[They were] attractively priced and AAA-rated,” Dalton said. “That combination in New York is hard to find these days.” [Bloomberg]