U.S. Consumer Finance: Weekly Debrief | Volume 3 | Issue 23

Research evidence excerpt

U.S. Consumer Finance: Weekly Debrief | Volume 3 | Issue 23

Equity Research

8 June 2026

U.S. Consumer Finance

Weekly Debrief | Volume 3 | Issue

Strong jobs data (NFP, JOLTS) and stable unemployment rate, U.S. Consumer Finance

combined with continued pressure from oil (inflation NEUTRAL

worries), increased the probability of a future Fed rate hike, U.S. Consumer Finance

Terry Ma, CFA

weighing on the market. Extel voting comes to a close this +1 212 526 7965

week, we appreciate all your support! terry.ma@barclays.com

BCI, US

Cordelia R Deng

Dear Clients, we truly value the trust and support you've shown us throughout the year! Extel

+1 212 526 7625

voting is currently ongoing and, if you feel like we've earned it, our team would greatly appreciate cordeliar.deng@barclays.com

your 5-star vote in the 2026 Extel All-America Research Survey in the Financial Institutions > U.S. BCI, US

Consumer Finance category > Barclays > Terry Ma, Cordelia Deng, and Jack Margolius. Vote 5 Stars

Jack Margolius

for Barclays. +1 212 526 9132

jack.margolius@barclays.com

Consumer Lenders were -3.0% on average last week, compared to SPX -2.6% and XLF +1.3%.

SOFI (-12.0%) underperformed the most. NAVI (-8.8%) also underperformed materially during

the week. Excluding SOFI and NAVI, Consumer Lender stocks were -0.49% w/w.

Mortgage Finance stocks were -3.2% on average last week as the 10Y UST was up ~10bps w/w

and the 30Y FRM was up ~7bps w/w (Optimal Blue) after a solid May jobs report and a new

round of escalation in the Iran war. UMWC (-15.4%) and RKT (-12.8%) were the worst performers

across our coverage. Excluding RKT and UWMC, Mortgage Finance stocks were -0.10% w/w. RDN

was -1.0% w/w following the company's investor day on Thursday (see our takeaways here).

THE 2026 EXTEL SURVEY IS NOW OPEN