BUZZ-Mortgage lenders rise after Fed's bumper rate cut
Reuters · 21h ago
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** Mortgage lender stocks rise in afternoon trading after the U.S. Federal Reserve cuts interest rates for the first time since 2020
** Rocket Companies RKT.N, PennyMac Financial Services PFSI.N and Cooper Group COOP.O rise between 0.5% and 2.5%
** Mortgage lenders have had to contend with sharp declines in origination volumes in recent years due to higher interest rates
** Rate cuts would draw more buyers into the market and unleash the housing market potential in the next few years
** Analysts expect RKT to be a material beneficiary of the rate cuts
(Reporting by Arasu Kannagi Basil in Bengaluru)
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