DETROIT, June 24, 2026, 12:02 EDT
- Rocket Companies jumped 13.5% to $15.29 late in the morning, beating gains from mortgage rivals UWM Holdings and loanDepot.
- Total mortgage applications inched up 1% last week, according to MBA data, with refinance demand rising 3%.
- Redfin, a Rocket unit, reported U.S. home prices up 0.3% in May. New-home sales figures kept housing risks on the table.
Rocket Companies jumped 13.5% to $15.29 late Wednesday morning, outpacing other mortgage lenders after new data pointed to a bump in U.S. home-loan demand. UWM Holdings added 4.4%. loanDepot moved up 7.9%. Rocket started the session at $13.90 and reached $15.36 at its high.
Mortgage applications edged up 1% for the week ending June 19, the Mortgage Bankers Association said. That follows last week’s 3.8% decline. Refinance activity was up 3%. Loans for home purchases fell 0.6%.
The 30-year fixed mortgage rate ticked down a basis point to 6.59% in the MBA’s latest survey. Freddie Mac said its weekly average for the same loan was 6.47% as of June 18, a drop from 6.52% the week before and down from 6.81% a year ago.
Redfin, owned by Rocket, reported that U.S. home prices edged up 0.3% in May from April. Prices are up 2.5% compared to a year ago. Redfin’s index tracks changes by comparing the prices of the same homes sold over time. “Buyers got a boost from lower mortgage rates in the spring, and that momentum is showing up in prices,” said Redfin senior economist Sheharyar Bokhari. Redfin
Rocket wants more mortgage business from Redfin’s home-search users, pushing to keep more borrowers on its platform. In May, Rocket posted net revenue of $2.94 billion for the first quarter, with net income at $297 million and $44.7 billion in closed mortgage origination volume. The servicing book hit $2.1 trillion, representing 9.4 million loans. “We’re not waiting for the market to get easier,” CEO Varun Krishna said. PR Newswire
Rocket saw options activity pick up, with some traders betting the stock could move higher. TipRanks, using data from The Fly, reported 23,387 Rocket calls changing hands—about double normal volume. The put/call ratio was at 0.03. Calls gain value if the stock climbs, puts if it drops.
Setup isn’t just in one direction. Reuters said Wednesday that new U.S. single-family home sales dropped 7.3% in May to a 580,000 annualized pace. Higher mortgage rates and prices put buyers on pause. If demand to buy stays soft, Rocket might have to depend more on refi and servicing income, with new loan growth likely uneven.
