General World News

Rocket Mortgage reports strong 3Q

Rocket Companies, the parent of Rocket Mortgage, generated a whopping $1.4 billion in net income in the third quarter, up from $1 billion the previous quarter.

According to the company’s earnings released on Thursday, Rocket originated $88 billion in mortgages, with a net-rate lock close to $87 billion in the third quarter.

Rocket’s gain on sale margin rose by 27 basis points to 305 bps, a significant leap from 278 bps in the second quarter.

Ahead of its earnings call, Rocket said that the third quarter represented the “strongest purchase closed details ⇒

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