For the past couple of years, the housing market has been a touchy subject for many Americans. As both mortgage rates and home prices remained elevated far above pandemic levels, many lost hope in the American dream of homeownership, and younger generations gave up on the idea altogether.
But the CEO of Rocket Companies, whose flagship subsidiary is Rocket Mortgage, said this week there are signs Americans are moving off the sidelines and vying for homeownership. Coming at the heels of mortgage rates dropping just slightly below 6%, Rocket CEO Varun Krishna told CNBC the company is poised to have the highest mortgage loan production volume and highest gain on sale in four years.
