Rocket Companies Inc is trading 5% down at $12.56 after stronger-than-expected U.S. jobs data pushed Treasury yields higher, pressuring rate-sensitive mortgage and housing stocks.
- The stock is sliding alongside a broader market sell-off and sector-wide weakness among mortgage lenders.
- Investors are pricing in the risk that the Federal Reserve will keep interest rates higher for longer, which could weigh on mortgage origination and refinance demand.