Today's Mortgage Rates | The Fed Made a Cut. Mortgage Rates Went Up Anyway. [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
Expectations of fewer Fed cuts in 2025 have pushed mortgage rates up, and they may not drop as much next year. Mortgage rates jumped following the Federal Reserve's final meeting of the year, where the central bank announced it cut the federal funds rate by 25 basis points If the Fed cut rates, why did mortgage rates go up? Borrowers are sometimes surprised by the ways mortgage rates respond to Fed moves, but investors typically price in increases or decreases to the federal funds rate well ahead of the actual cut. Unless the Fed does something unexpected, mortgage rates don't move much following the actual announcement. What did move mortgage rates this week was the release of updated economic projections from Fed policymakers. Though they were initially anticipating four rate cuts in 2025, they've now updated their projections to just two cuts. The less the Fed cuts, the less mortgage rates will go down . Inflation has been sticky in recent months, meaning the central bank
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News
- Rocket Companies, Inc. (NYSE: RKT) had its price target lowered by analysts at Morgan Stanley from $16.00 to $13.00. They now have an "equal weight" rating on the stock.MarketBeat
- Today's Mortgage Rates | Rates Tick Up As Fed Signals Fewer Cuts in 2025 [Business Insider]Business Insider
- The Fed might make fewer cuts in 2025. What does that mean for mortgage rates? [Business Insider]Business Insider
- Today's Mortgage Rates | Rates Steady Ahead of Fed Announcement [Business Insider]Business Insider
- Buying a home probably won't get much easier in 2025, says Fannie Mae. But it's not all bad news. [Business Insider]Business Insider
RKT
Earnings
- 11/12/24 - Miss
RKT
Sec Filings
- 12/16/24 - Form 8-K
- 12/3/24 - Form 8-K
- 11/14/24 - Form SC
- RKT's page on the SEC website