Adjusted net income came in at $441 million.
Purchase market share climbed to a company record of 6.2%, up from 5.5% in Q4 2025. Refinance market share rose to 14.3% from 12.2% over the same period, also a record.
Mortgage rates moved higher through May and June, depressing what is typically the strongest buying season of the year.
Broker channel growth comes at a cost
For independent mortgage brokers, the quarter’s most revealing figure was Rocket Pro’s 0.69% gain-on-sale margin. That’s well below the 4.13% direct-to-consumer margin and the 3.11% blended margin across non-correspondent originations. Rocket Pro closed $11.1 billion in loans during Q2.
Brian Brown, president and chief financial officer at Rocket Companies, confirmed on the earnings call that the compressed margin reflects pricing incentives tied to the Compass real estate brokerage partnership, unveiled at Ignite26 earlier this year.
