Rocket Companies shares jumped 8.4% in the most recent trading session on above-average volume of 3.3 million shares versus a 30-day average of 2.1 million. The rally followed comments from CEO Varun Krishna pointing to a revival in mortgage loan production, as well as an uptick in digital mortgage applications on Rocket’s platform. Trading breadth indicated broad institutional participation, with block trades accounting for roughly 12% of the day’s total volume.

On CNBC’s Squawk Box, CEO Varun Krishna announced that Rocket is on track to deliver its highest mortgage loan production by volume and its strongest gain-on-sale margin in four years. He credited a 22-basis-point drop in the 30-year mortgage rate to 5.99% for lifting borrower demand, and highlighted Rocket’s integrated servicing-origination model powered by AI as a key retention driver, enabling the company to recapture returning borrowers for purchase and cash-out refinance transactions.

Despite the rally, consensus earnings estimate revisions over the past 30 days have tilted negative, with the average full-year EPS forecast trimmed by 4.7% and six analysts lowering their estimates compared to two upgrades. Investors will be watching Rocket’s February 19 earnings release for guidance on whether improving volume can translate into margin expansion, or if continued pressures on net interest margins and funding costs will temper profitability.