Rocket Companies shares jump 6% after CEO says mortgage loan volume is surging
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Rocket Companies shares rose 6% after CEO Varun Krishna announced a surge in mortgage loan production, expected to be the highest in four years. The increase follows a drop in borrowing costs, with the 30-year mortgage rate falling to 5.99%. Krishna highlighted Rocket's strategy of linking mortgage servicing and origination to retain customers, anticipating a 25% growth in the mortgage market by 2026. Rocket's earnings call is scheduled for February 19, where further details will be shared.
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