Why Zillow Group Stock Gained 15% in September
Shares of Zillow (NASDAQ: Z) (NASDAQ: ZG) were moving higher last month along with several real estate stocks as the sector benefited from expectations of falling interest rates.
In fact, Zillow stock soared when the Federal Reserve surprised some investors by cutting the Federal Funds rate by 50 basis points, kicking off a new rate-cutting cycle.
Though the stock gave up some of those gains later in the month, excitement over a rebound in the housing market, driven by falling mortgage rates, seemed to be the primary reason for the stock's gains in September. According to data from S&P Global Market Intelligence, Zillow finished the month up 16%.
Source Fool.com
