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Rocket Companies' stock rose after the Fed cut rates, boosting mortgage demand and housing market outlook.
Rocket Companies Inc. (RKT) shares rose 2.77% to $21.33 on Wednesday after the Federal Reserve cut its benchmark interest rate by a quarter-point to a range of 4.00% to 4.25%, marking the fourth consecutive reduction.
Lower rates typically make mortgages more affordable, potentially boosting homebuying and refinancing.
The Fed's outlook for additional cuts in the coming years and a revised 2025 GDP forecast of 1.8% support a favorable environment for the housing market.
RKT's strong Momentum score of 68.22 reflects recent price gains, and investors responded positively to the rate cut.
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Las acciones de Rocket Companies subieron después de que la Fed recortó las tasas, impulsando la demanda de hipotecas y las perspectivas del mercado de la vivienda.