NEW YORK, August 13, 2026, 08:33 EDT
- Rocket Companies NYSE:RKT rose 0.8% to $14.16 in premarket trading compared to Wednesday’s close.
- The leading 30-year mortgage rate slipped by five basis points to 6.74%.
- Rocket’s projected third-quarter revenue at the midpoint is 5.8% lower than its second-quarter figure.
Rocket Companies, Inc. NYSE:RKT stock inched up ahead of Thursday’s market open, following a drop in mortgage rates to their lowest in three weeks. The decline brought limited relief to borrowers. However, the benefit is modest compared to Rocket’s projected revenue adjustment.
The stock was at $14.16 as of 07:54 EDT, up 0.8% compared to its $14.05 close on Wednesday. Investors weigh more affordable financing options while the housing market continues to see fewer transactions.
Mortgage News Daily reported its premier 30-year fixed mortgage rate at 6.74% on Wednesday, marking a decline of five basis points from Tuesday and hitting the lowest level in three weeks. Early Thursday, mortgage-backed securities showed moderate gains, suggesting a positive trend for lender pricing.
| Mortgage product | August 12 rate | Daily change |
|---|---|---|
| 30-year fixed | 6.74% | down 5 bp |
| 15-year fixed | 6.27% | down 1 bp |
| 30-year jumbo | 6.85% | down 1 bp |
| 7/6 SOFR ARM | 6.30% | down 5 bp |
The adjustment to rates results in a monthly savings of approximately $13.30 for a $400,000 30-year loan. This figure reflects only principal and interest, with taxes, insurance and lender fees not included.
These savings provide some marginal relief, but do not solve affordability issues. Redfin reported that home sales in July declined 4.1% compared to June, and pending sales slipped 2.5%.
| July housing indicator | Value | Market cue |
|---|---|---|
| Completed home sales | -4.1% from previous month | Lowest level in almost two years |
| Pending sales | -2.5% versus last month | Lowest level since December |
| Median sale price | $407,730, up 3.2% on the year | Record high for July |
| Failed contracts | 14% of deals | Peak since 2023 |
“The housing market experienced a downturn in July,” said Chen Zhao, head of economics research at Redfin. She pointed to all-time high prices, climbing mortgage rates, and economic uncertainty. Redfin
Rocket moves into the slowdown backed by greater scale. Its servicing portfolio climbed to $2.0 trillion in unpaid principal, spanning 9.1 million loans. The refinance share increased to 14.3%, up from 12.2% in late 2025.
The book provides substantial potential for refinance recapture should rates decline significantly. A five-basis-point shift alone is not expected to prompt widespread refinancing. The value lies more in the optionality than in the immediate change to payments.
| Rocket measure | Second quarter 2026 | Comparison |
|---|---|---|
| Adjusted revenue | $2.761 billion | Q3 midpoint: $2.600 billion, down 5.8% |
| Adjusted EBITDA | $766 million | $172 million a year prior |
| Closed originations | $49.1 billion | Total, includes correspondent |
| Liquidity | $11.2 billion | At quarter’s end |
Rocket reported second-quarter adjusted revenue of $2.761 billion. For the third quarter, the company projected adjusted revenue in the range of $2.5 billion to $2.7 billion. The midpoint of this outlook sits 10.7% under the pre-report consensus figure of $2.91 billion.
Chief Executive Varun Krishna said, “Rocket reached record levels of purchase and refinance market share.” He described it as the strongest quarter for company profits in four years. Rocket Companies
Wall Street holds a positive yet split outlook. Seventeen analysts maintain a Buy consensus, with the average price target at $17.73. Most recent revisions fall between $14 and $19.
| Firm | Latest recommendation | Price target | Date |
|---|---|---|---|
| RBC Capital | Hold | $16, up from $15 | August 12 |
| JPMorgan | Hold | $14, down from $16 | August 11 |
| Keefe, Bruyette & Woods | Buy | $19, down from $20 | August 10 |
| Morgan Stanley | Buy | $19 | August 7 |
The immediate challenge is evident. Mortgage rates need to decline sufficiently to drive applications higher, not just draw attention in headlines. Rocket also requires growth in the purchase market to balance out the decline in closings.
Risks: Another increase in Treasury yields could reverse the rate relief seen on Wednesday. Elevated home prices may deter buyers, and integration expenses could offset advantages of scale. Quicker rate cuts would boost upside potential via refinancing.
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