Pennymac 4Q results affected by shifting mortgage rates

PennyMac Financial Services fourth quarter earnings were affected by the lower interest rate environment in the quarter, coming in higher year-over-year but reduced versus the linked quarter.

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PFSI reported $106.8 million in net income for the quarter and $501.1 million for the year. A year earlier, the company had earned $104.49 million for the quarter and $311.4 million for…