#refinancing

#refinancing

The exchange offer covers $750 million in senior notes due in 2029 at 6.5% and $1 billion in senior notes due in 2032 at 7.125%. There are also notes due in 2030 paying 5.125% and others due in 2031 paying 5.75%. The debt was first issued by Nationstar Mortgage Holdings. Participation has been high, with 98.4% of 2029 notes, 88.3% of 2030 notes, 89.3% of 2031 notes and 95.5% of 2032 notes already tendered and not withdrawn.

Pennymac plans to use proceeds from its offering to repay borrowings under secured MSR facilities and other secured indebtedness. The offering is contingent upon market conditions.

A home appraisal is an unbiased assessment by a professional, determining your home's fair market value based on its condition, location, and comparable sales.

Mortgage rates edged slightly higher but remained within the same narrow range, with the average for a 30-year fixed-rate conforming mortgage at 6.88%.