PennyMac Financial Services admitted its second quarter results failed to meet expectations because of high interest rates, as well as funding the technology initiatives in artificial intelligence and automation. Processing Content “Although our operational execution remains solid, these results fell short of our expectations as interest rates increased and origination demand declined,” Chairman and CEO […]

Key insight: Federal Reserve Chair Kevin Warsh hailed rising market interest rates between Federal Open Market Committee meetings as a positive development.  Expert quote: “Market participants are learning to play the ball, not the referee, and market prices will continue to respond in the direction and magnitude they see fit. This is, in my view,

Buyers finally have leverage, but they aren’t using it, and that gap is now the central problem in purchase lending.  Processing Content The typical home sells below list price in 41 out of the U.S. largest metros according to Best Interest Financial’s analysis of Redfin data. Price-drop activity declined compared to the previous year in