As the average 30-year fixed rate mortgage jumped to 5.51% from 3.11% late last year, higher borrowing costs forced many prospective homebuyers to the sidelines.

Logically, this dynamic bodes poorly for Rocket Companies (US:RKT), a personal finance and consumer service powerhouse w specializes in home loans. Nevertheless, corporate insiders have been bidding up RKT stock, contributing to a surprisingly robust recent performance.

The latest insider transaction data,  released on July 15, reveals Rocket director Matthew Rizik acquired 4,900 shares at a price of $8.72 each. On the same day, Rocket CEO Jay Farner bought 45,800 shares, also at $8.72.

Farmer also bought 69,100 shares at $8.67 each on July 13.

 Insiders bought 291,300 shares at an average (non-weighted) price of $8.35 in July.

On July 20, RKT stock closed at $9.41, representing a gain of nearly 13% against the average buy-in rate.

Rocket has some of the most enthusiastic insider trading among corporate executives. Company insiders last sold shares on March 29, 2021, when director Jennifer Gilbert sold 20.2 million shares at $24.75 each. 
Insiders acquired 1.61 million shares and 3.47 million shares, respectively, in the past three and 12 months.

Insider buying can iindicate confidence among those closest to the business are confident about future performance. it also  can reflect exercised stock options or a pre planned series of purchases.

Still, prospective buyers will want to keep close tabs on Rocket’s financials. It posted first quarter net income of $54 million, on revenue of $2.63 billion. A year ago the company net income of $124 million on revenue of $4.5 billion.

Rocke's fate is subject to future, solid US economic performance. According to the latest data from the U.S. Bureau of Labor Statistics regarding the dollar’s purchasing power, the erosion of currency strength equates to nearly 13 cents on the dollar since the start of the COVID-19 pandemic. At scale against the U.S. median household income, American families are losing about $9,000 on annualized basis.