Rocket Q3 Preview: Is It Ready for the Next Mortgage Cycle?

Rocket Companies, Inc. RKT reports third-quarter 2025 results after the market closes on October 30. Analysts are looking for about $0.04 in earnings per share on revenue of roughly $1.7 billion. The stock is up nearly 50% this year.

In the previous quarter, Rocket Companies reported $29.1 billion in closed loan origination volume, an 18% YoY increase, with adjusted revenue of $1.3 billion. That growth came despite mortgage rates staying elevated for most of the period. Mortgage rates stayed high for most of the year, hovering between 6.5% and 7%. They finally dipped below 6.5% in early September. The Federal Reserve has already cut rates by 25 basis points in both September and October, and the market expected another cut in December. That should start to ease pressure across the mortgage market.

Investors will focus on how origination volumes and servicing margins are trending, and integration costs tied to the company's recent acquisitions. Guidance on cost synergies and cash generation will matter just as much as the top line. Rising home-equity balances and stronger servicing income could give margins a lift. It's also the first earnings call since Rocket closed the Redfin and Mr. Cooper deals, and investors will want a sense of how those integrations are going so far.

This quarter is not just about the headline numbers but also the outlook. With the rate cycle turning, Wall Street wants confirmation that Rocket is positioned to benefit from a steadier housing and refinancing environment heading into 2026.