New York, Feb 4, 2026, 12:59 PM EST — Regular session
- Rocket Companies shares dropped roughly 5% by midday, following volatile swings earlier in the session
- An SEC filing highlighted the highest fourth-quarter net rate lock volume and gain-on-sale margin seen since Q4 2021
- Rocket scheduled to release Q4 and full-year 2025 results on Feb. 26, followed by a conference call at 4:30 p.m. ET
Shares of Rocket Companies dropped 5.2% to $19.29 by midday Wednesday, after earlier climbing as high as $20.71.
The move is significant because Rocket’s earnings usually magnify even minor changes in mortgage demand. Investors react swiftly to any hint that borrowers are coming back amid shifting rate expectations.
The company’s initial take on “net rate lock volume”—the dollar amount of mortgages borrowers secure at a quoted rate—and “gain on sale” margin—the profit from selling loans to investors—offers an early, concrete sign of whether the rebound is holding.
Rocket disclosed in a Feb. 3 filing that it anticipates hitting its highest fourth-quarter net rate lock volume and gain-on-sale margin since Q4 2021, following CEO Varun Krishna’s appearance on CNBC’s “Squawk Box.” The company warned these numbers are preliminary and shouldn’t replace its full financial reports. (SEC)
Krishna told CNBC the company is “on track to produce the highest mortgage loan production in terms of volume that we’ve had in four years,” according to Mortgage Professional. (Mortgage Professional)
Rocket announced it will report its fourth-quarter and full-year 2025 results on Feb. 26, followed by a conference call at 4:30 p.m. ET. (PR Newswire)
Tuesday saw a sharp rally for Rocket, which closed up 8.42% at $20.35. Trading volume hit 58.3 million shares—more than twice its 50-day average—and the stock outperformed UWM Holdings, MGIC Investment, and Radian Group during the session, according to MarketWatch data. (MarketWatch)
Rate-sensitive stocks have been shifting alongside the market. The 10-year Treasury yield hovered near 4.276%. “The data this morning are not too hot, not too cold,” noted Emily Roland, co-chief investment strategist at Manulife John Hancock Investments. (Reuters)
Rocket is a fintech platform centered on Rocket Mortgage, with other businesses like Redfin and Mr. Cooper under its umbrella, according to a Reuters company profile. (Reuters)
That said, the situation isn’t one-sided. Should borrowing costs rise again or lenders push pricing more aggressively to attract clients, increased volumes might come at the expense of slimmer margins.
Investors are turning to Feb. 26 for the full fourth-quarter figures, as well as any updates on 2026 demand and profit outlooks, with the housing market entering its peak season.
