The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits
The market composite index, which measures mortgage loan application volume, increased by 2.9% on a seasonally adjusted basis. On an unadjusted basis, the index rose by 2.0%
New tool factors bankruptcy, FICO score and debt ratio into the equation
Mixed economic news keeps rates flat
Freddie Mac: 15-year fixed at record low
Increased FHA loan limits part of compromise plan