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. 1
- Treasury Secretary Scott Bessent said the buying program aims to counterbalance the Federal Reserve’s monthly reduction of mortgage-backed securities. 2
- Attention is turning to the speed of rate adjustments as traders brace for Tuesday’s U.S. CPI report. 3
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. 1
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. 2
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. 4
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. 5
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.” 6
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. 7
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. 8
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. 9
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. 3
