Pennymac profit drops in Q2 as rates bite, layoffs follow
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Escalating Iran conflict sends mortgage rates near 11-month high
“Purchase application demand has weakened recently, but housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving,” Sam Khater, chief economist at Freddie Mac in McLean, Virginia. Geopolitics override an encouraging inflation signal An otherwise promising week for rate watchers was quickly overtaken by events in…
As Financials Rally, Is the Steady Vanguard Financials ETF or the Leveraged ProShares Ultra Financials the Better Buy Right Now?
Key Points Vanguard Financials ETF provides broad financial sector exposure for a fraction of the cost of the ProShares fund ProShares – Ultra Financials uses 2x leverage to amplify daily returns, which leads to significantly higher price volatility and a deeper maximum drawdown The Vanguard fund has historically delivered higher total returns over the last…
PFRDA sets up global pension fund panel: How NPS subscribers may benefit | Personal Finance
India has launched a new initiative to attract the world’s largest pension investors, seeking to strengthen the National Pension System (NPS), support infrastructure financing and potentially improve long-term investment opportunities for retirement savers. The Pension Fund Regulatory and Development Authority (PFRDA) has constituted a high-level committee called ASCEND (Accelerated Scaling of Global Capital Ecosystem…
Indian securities regulator may let portfolio managers invest abroad
SEBI has also suggested permitting 10% of client money to be allocated to unlisted debt. Credit: Andrzej Rostek/ Shutterstock.com. Securities and Exchange Board of India (SEBI) has set out proposals to broaden what portfolio managers can buy, including overseas listed shares and bonds, securities that are yet to be listed, and unlisted debt. The draft changes…
