Following Rocket's lead, UWM and Guaranteed Rate say they'll price mortgages of up to $750K as if they're eligible for purchase by Fannie Mae and Freddie Mac in anticipation of 2024 increases
Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than 2 decades
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
CEO Mat Ishbia says aggressive 'Game On' pricing is still in place, but acknowledges Pontiac-based wholesaler is seeking to boost profit margins in 2023
After posting $493M Q4 loss, Rocket executives say they're focused on reaching homebuyers through the wholesale channel and new personal finance app, Rocket Money