Dec. 4 at 3:36 PM
$RKT Everyone keeps talking about new home sales are down but knowbody is talking about how Americans are so over extended that they are having to take equity out of their homes to pay off high interest credit cards and the highest car payments this country has ever seen. You can only hold on for so long before you have to give up that 3% interest rate and take a higher rate just to consolidate and then this sets them up for another refinance in the future when rates come back down. This is and will continue to be a refinance market because the majority of Americans have no self control. Rocket has built their business on refinance not purchase.