NEW YORK, January 10, 2026, 07:30 EST — Market closed
- Rocket Companies surged 9.6% on Friday following President Donald Trump’s directive to buy $200 billion in mortgage bonds to help push down mortgage rates. (Reuters)
- Treasury Secretary Scott Bessent said the buying program aims to counterbalance the Federal Reserve’s monthly reduction of mortgage-backed securities. (Reuters)
- Attention is turning to the speed of rate adjustments as traders brace for Tuesday’s U.S. CPI report. (Bureau of Labor Statistics)
Shares of Rocket Companies, Inc. jumped 9.6% to close at $23.29 on Friday, fueled by a surge in mortgage-related stocks following President Donald Trump’s directive to buy $200 billion in mortgage bonds to help lower borrowing costs. (Reuters)
Treasury Secretary Scott Bessent told Reuters the plan for mortgage-backed securities purchases is to “roughly match” the Fed’s runoff pace — around $15 billion monthly — following years of the central bank reducing its holdings. Mortgage-backed securities, bonds tied to pools of home loans, influence consumer mortgage rates when their prices shift. (Reuters)
Some economists see the plan as a crisis-era playbook brought forward. Derek Tang from forecasting firm LH Meyer noted the administration is “willing to cross the line into crisis-fighting mode” despite no recession or financial crisis being underway. (Reuters)
Rocket, which makes money when borrowers secure new mortgages or refinance, usually moves based on rate expectations. On Friday, the Philadelphia Housing index jumped 4.8%. LoanDepot soared 24%, while UWM Holdings gained 11.6%. Brian Jacobsen from Annex Wealth noted that “every little bit will help push mortgage yields lower, but this might be self-defeating” for affordability. (Reuters)
The order also sparked fresh debate over Fannie Mae and Freddie Mac, the government-backed giants supporting much of the U.S. mortgage market. TD Cowen analyst Jaret Seiberg said Trump’s remarks “do not sound like a President who is in a rush to IPO the enterprises.” Meanwhile, JonesTrading’s Mike O’Rourke cautioned that if these firms are used to fund policy objectives, “we shouldn’t ever expect them to be re-privatized again.” (Reuters)
Rocket director Matthew Rizik sold 2,500 shares on Jan. 7 and an additional 2,500 on Jan. 8, according to a Form 4 filing. These sales were made under a Rule 10b5-1 trading plan he set up in August. After these transactions, Rizik holds 1,043,536 Class A shares. (SEC)
Rocket’s recent surge pushed it near the top of its 52-week range, with MarketWatch marking $23.42 as the ceiling. According to Barchart’s moving-average indicators, the stock is comfortably above its 50-day average, around $18.6, and well past its 200-day mark near $16.2. (MarketWatch)
Yet the rally hinges on rates holding steady. Following Friday’s U.S. jobs report, analysts noted traders expect the Fed to delay rate cuts longer than before, a scenario that might keep mortgage rates elevated if inflation remains stubborn. (Reuters)
Coming up, Tuesday brings the U.S. Consumer Price Index report at 8:30 a.m. ET. The Fed meets again Jan. 27–28, with Rocket’s next earnings expected on Feb. 26. (Bureau of Labor Statistics)
