Rocket Companies (RKT) stock slipped 2% to $14.50 in Tuesday trading, extending Monday's 2% decline, as higher rates and weak mortgage activity weighed on the housing market.
The stock remains over 40% below its 52-week high. Rocket Companies' Monday performance, with a 2% drop, was better than UWM Holdings (UWMC)'s 6% decline, suggesting it has recently held up better than some mortgage peers. Analysts note that Rocket Companies could benefit if mortgage rates fall and industry consolidation accelerates, but investors remain cautious about the timing and strength of a mortgage market recovery.
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