Though too early to call it a trend, the manufactured housing sector showed hints of a turnaround during the April to May reporting period, according to the latest issue of Manufacts, from Credit Suisse First Boston.

Significantly, the repo index declined to its lowest level in five months (down 1,179 to 39,234). For all but the 2000 and 2001 vintages, 60 day-plus delinquencies decreased. Also, for all but the 1999 vintage, loss severities decreased between 1% and 3%, which is the "first such decrease in the last year and may signal that loss severity has peaked," according to the research.

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