Pennymac profit drops in Q2 as rates bite, layoffs follow
PennyMac Financial Services on Wednesday reported second-quarter 2026 net income of $22 million, down 84% from a year earlier and sharply lower than its first-quarter net income of $82.3 million, as higher interest rates reduced mortgage production volume and weighed on profitability. The company’s
Hawks Lorie Logan and Beth Hammack run the Fed for now
Today the Federal Reserve decided not to hike rates, but the hawks have moved their chess pieces: three Fed members wanted to hike rates at this meeting, which means September is in play for the first rate hike after the cut cycle ended. However, the long end of the bond market has already done the
Homes.com helps drive CoStar to first profitable residential quarter
CoStar Group reported an 18% year-over-year revenue increase for the second quarter ended June 30 — reaching $925 million compared to $781 million in the same period last year. Leaders said growth was driven by major technological expansions, increased platform engagement and significant operational
Categories
Recent Posts
