The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses. https://www.nationalmortgagenews.com/news/pennymac-financial-services-touts-broker-channel-gains-as-earnings-rebound
NextGenMortgage
Gen Z home buyers willing to pay higher interest rates, survey finds
Gen Z and millennials are more willing to take a higher mortgage rate in order to buy a home than Gen X and baby boomers, the ServiceLink report found. https://www.nationalmortgagenews.com/news/gen-z-home-buyers-willing-to-pay-higher-interest-rates-survey-finds
Time-to-sell decreases, but price cuts rise
A pair of metrics that examine competition in the marketplace went in different directions in March, Zillow found. https://www.nationalmortgagenews.com/news/time-to-sell-decreases-but-price-cuts-rise
Fed’s Logan says ‘much too soon’ to think about cutting rates
Logan, whose remarks are closely watched by investors given her prior role managing the central bank's asset portfolio at the New York Fed, said she's increasingly concerned that inflation progress could stall out....
UWM allegations give industry “another black eye” some say
Industry stakeholders predict the bombshell allegations around how United Wholesale Mortgage does business will impact customer sentiment and could lead to more regulatory oversight. https://www.nationalmortgagenews.com/news/uwm-allegations-give-industry-another-black-eye-some-say