US mortgage lenders rise after Fed cuts rates

** Shares of mortgage lender rise after the U.S. Federal Reserve cuts interest rates by 25 basis points

** Rocket Companies RKT.N up 1.7%, PennyMac Financial Services rises PFSI.N up 2.9%, Mr Cooper Group COOP.O climbs 3.4% and UWM Holdings Corporation UWMC.N moves up 3.3%

** The Fed has indicated it will steadily lower borrowing costs for the rest of this year at the remaining two policy meetings this year