General World News

Higher rates exposed Rocket’s vulnerability — can it prove itself as a fintech?

rocket mortgage

Rocket Companies, the parent company of what was once the largest mortgage originator in the country, capitalized on the all-time low mortgage rates during the pandemic years, racking up record profits through an enormous amount of refinances. Last year, it originated $351 billion in total volume — with more than double the refi volume of any lender. 

But when mortgage rates started rising following downward pressures on inflation, its business took a hit and the unimaginable happened: Rocket Mortgage not only lost $166 million in the third details ⇒

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