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HELOC, Verification Products; AI Gap; Housing Bill Advances; JPMorganChase on Affordability
Yesterday I published a link to Pennymac Policy Pulse, a newsletter tracking key federal policy developments shaping the housing market and broader U.S. economy. The link went to an old version; above is the link to the most current. (Today’s podcast can be found here and this week’s ‘casts are spon
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Re-Coupling and Range Consolidation
Yesterday's most interesting development was the visible decoupling of bond yields with oil prices. To a lesser extent, one could also lament that mid-morning stock selling failed to benefit bonds, but that's far from a regular correlation these days. In fact, the stock/bond correlation is often rev
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What's Up With Bonds Decoupling From Oil, Etc.?
What's Up With Bonds Decoupling From Oil, Etc.? On the average trading day in the past few months, if oil prices were down, and especially if other bond markets were rallying, U.S. bonds were probably rallying too. Today was the opposite and there are no glaringly obvious reasons. It's the sort of
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Mortgage Rates Bounce Back Toward Recent Highs
Mortgage rates gave back the improvement seen last Thursday and broke above last Wednesday's levels to hit the highest mark since June 10th. This isn't a big range in the bigger picture, but it does leave rates near 10-month highs. The move is also a bit counterintuitive given developments in other
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