The Latest Breaking News from UWMC

Financial companies usually benefit from a rising interest rate environment due to the positive correlation of their revenues with interest rates. However, not all financial stocks are well-positioned to capitalize on the rising interest rates. It could be wise to steer clear of UMW Holdings (UWMC) and Upstart Holdings (UPST),…

Mortgage rates are at their highest point since the Great Recession as housing affordability continues to decline, according to Freddie Mac (OTCMKTS: FMCC) data.

According to Benzinga Pro, during Q1, UWM Holdings (NYSE:UWMC) earned $453.29 million, a 89.01% increase from the preceding quarter. UWM Holdings also posted a total of $821.79 million in sales, a 35.73% increase since Q4.

Due to concerns about a potentially impending recession, aggressive federal interest rate increases, and geopolitical tensions, the benchmark equity indexes have declined this year. And Wall Street analysts expect the stocks of fundamentally weak companies Progressive Corp. (PGR), Dutch Bros (BROS), and UWM Holdings Corp. (UWMC) to decline further in…