Could Rocket Companies Be a Millionaire Maker Stock?
The year 2020 has been a memorable one for mortgage originators. The COVID-19 crisis prodded the Federal Reserve to cut interest rates down to the floor, which triggered a massive refinancing boom. Black Knight Financial estimates there are 19.3 million "high quality" refinance opportunities out there, which works out to be roughly $8 trillion in potential volume.
There are only a limited number of companies currently operating that will have the wherewithal to take advantage of this opportunity. One of them is Rocket Companies (NYSE: RKT). During the summer, this parent company to Quicken Loans and Rocket Mortgage went public at $18 per share.
Could this refinancing boom in the making help Rocket Companies become a millionaire-maker stock?
Source Fool.com
