KB Homes

PIMCO’s new MBS fund. Builders enter rental business.

Yesterday’s DailyBasis discussed REIT’s raising money to buy MBS’s, then a story broke about PIMCO doing exactly that! There is, of course, little correlation, and granted, the $600 million that Pacific Investment Management Co. is raising is less than the average daily volume of MBS’s traded in the market, but it is a good sign.