KKR Real Estate (KREF) Surges 5.7%: Is This an Indication of Further Gains?

KKR Real Estate Finance (KREF) shares soared 5.7% in the last trading session to close at $12.24. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.4% gain over the past four weeks. Shares of KREF witnessed a strong price increase as long-term bond yields have declined with the Fed's announcement of an interest rate cut starting this month. This resulted in a decline in mortgage rates. Housing affordability challenges are expecte ...