The forecast for the housing market is gloomy. RealtyTrac, the web-based database of foreclosed properties, predicts there will be more bank repossessions in 2011 on top of the record 1.2 million in 2010, sluggish recovery notwithstanding. Estimates call for home prices to keep falling.
Some investors might steer clear of anything to do with mortgages, given these predictions. Not Metropolitan West Total Return bond fund. The three managers of the $11 billion fund find conditions for mortgages optimal.
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