As mortgage brokers PennyMac has been benefiting from the strong USA housing resurgence. Existing home sales rose by 10.5% y-o-y to a seasonally adjusted annual rate of 6 million units in August 2020, according to the National Association of Realtors (NAR). Likewise, new homes sold soared 43.2% y-o-y to a seasonally-adjusted annual rate of 1,011,000 units in August 2020, according to the US Census Bureau. Worth a look.
Comment:
Nice 17% run before pullback.
NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.
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MY YOUTUBE TRADINGVIEW TIPS AND TRICKS: bit.ly/3kRW08o
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