479
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 14 Aug 2026
479 points (99.0% liked)
Not The Onion
22244 readers
1199 users here now
Welcome
We're not The Onion! Not affiliated with them in any way! Not operated by them in any way! All the news here is real!
The Rules
Posts must be:
- Links to news stories from...
- ...credible sources, with...
- ...their original headlines, that...
- ...would make people who see the headline think, “That has got to be a story from The Onion, America’s Finest News Source.”
Please also avoid duplicates.
Comments and post content must abide by the server rules for Lemmy.world and generally abstain from trollish, bigoted, ableist, or otherwise disruptive behavior that makes this community less fun for everyone.
And that’s basically it!
founded 3 years ago
MODERATORS
Oh brah, that sucks brah. But look, you know about AI so finding a new job will be a fun exercise for you as you realize all the hiring pipelines are completely broken because of AI.
Generally when people talk about success they don't describe it as a "precipice"...
Maybe that's why the company fell 93%, the CEO thought taking a dive off a cliff was a "success"
93%?! Fucking hell, that's really bad.
Shouldn't this be the foothills of success. If it's a precipice then the way ahead is down.
Maybe I'm stupid, but how does a mortgage company lose valuation when premiums increase?
Like hello, your returns are now greater than before. Did they make some AI calculation, for locked interest rates for their customers and then financed it by taking on fluid interest rates as a company?
Their whole business model was based around getting people to refinance. When rates are up, people don't refinance.
US mortgages are almost always fixed-rate, so increased interest rates don't change the premiums for existing mortgages, hence the drive to refinance when rates are low.
A lot of them are variable-rate which is just insane. You're allowing your mortgage lender to charge you whatever interest rate they feel like charging, with your only out being the hassle of refinancing.
I've read that that's common in other countries, but I haven't heard of any here.
It used to be more common, but I think it got a lot less so after the 2008 economy did its thing. At least that's my anecdotal impression.