Heading into today’s Fed announcement, futures markets indicated roughly a 1 in 3 chance that the Fed would hike rates. They did not. This seems like it should have been good news for rates, but there’s a catch. Rates exist on a spectrum defined by “duration.” Specifically, there are different rates for different lengths of […]
Mortgage Rates Slightly Higher Despite No Fed Rate Hike Read More »
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
Pennymac results didn’t meet management’s expectations Read More »
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,
Warsh welcomes yield spikes as ‘change for the better’ Read More »