(Bloomberg) – Rocket Cos. Shares fell as much as 16% in late trading Tuesday after the online lender said it expected a decline in revenue this quarter.

The company, best known for its home loans, said it expects its adjusted revenue for the fourth quarter to fall in a range between $1.05 billion and $1.2 billion. Adjusted third-quarter revenue was $1.32 billion, according to a statement released after the close of U.S. markets.

Shares fell 10 percent to $14.15 at 4:45 p.m. in late trading in New York, after falling as low as $13.11. They closed at $15.54 during regular trading.

Real estate lenders have struggled with a sluggish mortgage market as interest rates remained high compared to their pre-pandemic levels, although Rocket saw technology – and artificial intelligence in particular – as a way to stand out from your rivals.

Rocket “delivered strong results in the third quarter, increasing its purchase and refinance market share and increasing its adjusted revenue 32% year over year,” CEO Varun Krishna said in the press release.

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