The first day of Rocket Mortgage’s public offering was a success. The stock traded at a premium to its competitors, and once reached around $34 per share. Since then, the price of the shares has barely increased. However, this should change before the end of the year. Its stock is now trading at less than $14. That’s not the kind of momentum that investors should bet on. Instead, they should focus on other factors that could boost the company’s future performance.
The prevailing interest rates have created a positive environment for mortgage originators. In fact, estimates show that origination will reach $3.2 trillion by 2020, which will be the highest in 20 years. As a result, many mortgage companies are now going public. Other companies to consider investing in are Rocket Companies, Guild Holdings, and United Wholesale. These companies are all growing rapidly and could be a good long-term investment for investors.
Rocket Mortgage is one of the fastest growing mortgage lenders in the country. The company has more than 30,000 branches nationwide and uses technology to make home mortgage applications easier and more convenient than ever. This gives people with less than perfect credit a fair chance to purchase a home. Its online application process means that it can provide assistance to people who might not otherwise be able to qualify for a traditional mortgage. The stock’s price is likely to rise further as long as the company’s growth rate is maintained.