About Rocket Companies, Inc. Class A Common Stock (RKT)
Rocket Companies Inc is a consumer-focused technology company that specializes in the mortgage and real estate sectors. It is best known for its primary subsidiary, Quicken Loans, which offers a streamlined online platform for mortgage origination and refinancing, making it easier for customers to navigate the home loan process. The company leverages its innovative technology and data analytics to deliver personalized mortgage solutions, along with tools and resources for home buyers and homeowners looking to manage their financial endeavors. In addition to mortgage services, Rocket Companies also provides a range of related services, including real estate transactions, connecting clients with real estate professionals, and facilitating the buying and selling process. Read More
Developers obtained permits to build an average of 12.8 multifamily housing units for every 10,000 people in the U.S. over the past year, according to a new report from Redfin, the real estate brokerage powered by Rocket. That’s down 23.1% from an average of 16.7 during the pandemic building boom, and down 1.1% from an average of 13 in the years leading up to the pandemic.
Redfin reports the median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down $215 from its May peak of $2,846. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat.
The median U.S. asking rent rose 1.7% ($30) year over year to $1,790 in July—the largest increase since January 2023. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. July marked the second-consecutive year-over-year increase (the median asking rent rose 0.4% in June) following over two years of declining or flat rents.
A Los Angeles estate known as the “Spelling Manor,” after its former owner–producer Aaron Spelling–was the most expensive home sale of July, bringing in $110 million. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
Roughly one in five (22%) homebuyers are willing to compromise personal safety to afford a home, according to a new survey, commissioned by Redfin, the real estate brokerage powered by Rocket.
Fintech mortgage provider Rocket Companies (NYSE:RKT) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 10.8% year on year to $1.36 billion. On top of that, next quarter’s revenue guidance ($1.68 billion at the midpoint) was surprisingly good and 6.9% above what analysts were expecting. Its non-GAAP profit of $0.04 per share was $0.01 above analysts’ consensus estimates.
Shares of fintech mortgage provider Rocket Companies (NYSE:RKT) jumped 6.8% in the afternoon session after a favorable U.S. inflation report bolstered expectations for an imminent Federal Reserve interest rate cut, a positive development for the mortgage industry. The U.S. Consumer Price Index (CPI) report for July was largely in line with market expectations, a development that increased the chances of a Federal Reserve rate cut at its September meeting to 95%. Lower interest rates are particularly beneficial for the housing sector as they typically translate into lower mortgage rates. This makes homeownership more accessible and stimulates demand, directly benefiting mortgage lenders like Rocket. The positive sentiment was widespread across the market, lifting major U.S. stock indexes.
The average U.S. buyer’s agent commission was 2.43% for homes sold in the second quarter, up from 2.38% a year earlier. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
Wrapping up Q2 earnings, we look at the numbers and key takeaways for the thrifts & mortgage finance stocks, including Rocket Companies (NYSE:RKT) and its peers.
House hunters got some relief this week as the daily average mortgage rate dropped to its lowest level in nearly a year after a softer-than-expected jobs report. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
Homebuyers need to earn $112,131 per year to afford the $447,035 median priced U.S. home, little changed (+0.5%) from a year ago. But in 11 of the 50 most populous U.S. metropolitan areas, the income needed to afford a home has declined. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
The financial markets are abuzz with renewed speculation regarding a potential interest rate cut by the Federal Reserve, following the release of a surprisingly weak July jobs report. This critical economic data, which revealed sluggish labor market growth and downward revisions to previous months' figures, has significantly altered the landscape
The daily average mortgage rate dropped to 6.57% on August 4, the lowest level in 10 months, according to a new report from Redfin, the real estate brokerage powered by Rocket. That means a homebuyer on a $3,000 monthly budget has gained roughly $20,000 in purchasing power since May, when the daily average rate hit a recent peak of 7.08%.
A number of stocks jumped in the morning session after markets rebounded following a sharp sell-off in the previous trading session as investor optimism grew around a potential Federal Reserve interest rate cut following a weak U.S. jobs report.
