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Rocket reports Q2 surge in revenue, gains share in purchase and refi
Rocket said it posted $2.78 billion in Q2 net revenue and $229 million in GAAP net income, even as higher rates softened spring demand.
Rocket Companies reported strong second-quarter results, with net revenue rising to $2.78 billion and GAAP net income increasing to $229 million, as higher mortgage origination volume and servicing income supported earnings, HousingWire reported. The lender said its quarterly performance reflected record market share gains across both purchase and refinance lending, despite a challenging broader housing backdrop.
Rocket’s CEO Varun Krishna said the second quarter tested the housing industry, citing reduced affordability and softened demand as rates stayed elevated. In guidance, the company projected Q3 adjusted revenue of $2.5 billion to $2.7 billion, according to HousingWire.
The company generated $47 billion in net rate-lock volume and $49.1 billion in closed mortgage origination volume, with a gain-on-sale margin of 2.48%. Rocket also reported it originated $39.2 billion in closed mortgages excluding correspondent lending, and ended the quarter with $11.2 billion in total liquidity and a servicing portfolio of $2 trillion across 9.1 million loans.
Rocket said it changed its financial reporting beginning in Q2 2026, consolidating its operations into a single mortgage reporting segment that includes origination, servicing, title, closing and appraisal businesses. HousingWire also noted Rocket sold $53 billion in mortgage servicing rights during the quarter.