StocksMedium•7 October 2026•
1 min read
US Mortgage Stocks Plunge as Interest Rates Continue Upward Trend
Key Facts
1Major mortgage industry stocks including Rocket Companies and UWM Holdings plunged as mortgage rates continued their strong upward trend.
2UWM Holdings stock dropped to $1.17, representing an 80% decline from its highest point this year.
Major mortgage industry stocks including Rocket Companies and UWM Holdings plunged as mortgage rates continued their strong upward trend. Invezz reported that UWM Holdings stock dropped to $1.17, representing an 80% decline from its highest point this year.
The continued upward trend in mortgage rates, which recently hit 7.28%, is increasing borrowing costs and pressuring industry valuations. RKT closed at $11.59 on October 6, 2026, after trading between a low of $11.52 and a high of $11.9 during that session.