Despite an environment of rising rates, the housing market remains robust, according to Rocket Companies Inc (NYSE: RKT) CEO Jay Farner.
"As we started the year ... people wanting to buy a home was at record levels," Farner said Friday on CNBC's "Squawk Box." "The largest pre-approval numbers we've seen in our 36-year company history."
Although the market is changing, Farner said Rocket Companies is changing with it, shifting its focus in order to deliver another strong year.
"We've built a model that allows us to be successful in all types of rate markets from a mortgage perspective, but we're so much more than that," he said.
Farner highlighted the company's homes business, auto business and recent acquisition of TrueBill.
"We continue to build out a financial platform that is different than anybody else out in the industry," he said. "So I think if we consistently tell the story and then demonstrate it through good results, we'll get there."
Related Link: Rocket Companies Q4 Earnings Highlights: Revenue Miss, Record Originations, Special Dividend And More
The management team is focused on providing value to shareholders over the long term. Farner said he isn't concerned with what the stock does on any given day, week or month.
"We certainly want to see that value increase, but focusing on doing the right things over a long period of time I think will get us there."
Rocket Companies released its fourth-quarter financial results after the market closed on Thursday.
The company reported quarterly revenue of $2.44 billion, which came in below the estimate of $2.63 billion. Rocket Companies reported earnings of 32 cents per share, which came in below the estimate of 37 cents per share.
RKT Price Action: The stock initially fell on the results, but recovered its losses and started trending higher Friday morning.
The stock was trading higher by 2.25% at $11.82.
Photo: Erik Drost from Flickr.
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