Mortgage Rates Are Falling, Which Is Good News for UWM Holdings
The past year was extraordinarily difficult for companies in the mortgage space. The Fed aggressively hiked interest rates to help get inflation back under control, which translated into rapidly rising mortgage rates. To make matters worse, high home price appreciation in the aftermath of the pandemic created an affordability crisis for homebuyers, especially first-time buyers.
The stock for mortgage originators has been under selling pressure the entire year, but it appears mortgage rates might have peaked and may be beginning to fall. Here is what this rate reversal means for UWM Holdings (NYSE: UWMC).
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Source Fool.com
