** Mortgage lender stocks rise in afternoon trading after the U.S. Federal Reserve cuts interest rates for the first time since 2020
** Rocket Companies , PennyMac Financial Services
and Cooper Group 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)
((ArasuKannagi.Basil@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments