The Rocket Mortgage acquisition of Redfin is now complete.
You might notice changes if you visit the Redfin website, or if you update the app on your smartphone.
The website now says, “Powered by Rocket” below the Redfin logo, which has also integrated the Rocket red person artwork.
In addition, the mortgage tab on Redfin’s website now leads to Rocket’s daily mortgage rates and the ability to get pre-qualified for a home loan with Rocket.
So the third-party mortgage lenders have now been removed from the Redfin website, and it’s all Rocket moving forward.
Redfin Powered by Rocket Is Now Live
The new Redfin website has a prominent “Powered by Rocket” text below the new Redfin logo.
The smartphone app also received a fresh look, and when you open the app, it says “Redfin is now part of Rocket Companies.”
“It’s the same great app you love, now with more ways to make owning a home more affordable with Rocket Mortgage.”
There’s also a “Get prequalified” button that directs you to Rocket Mortgage, at which point you’re ported to a Rocket Mortgage lead form (or asked to log in if already a user).
This was largely what I expected from the merger. All the places where Redfin used to feature third-party mortgage lenders have been replaced by Rocket.
So any time you get to a mortgage-related portion of the Redfin website or app, it will be powered by Rocket.
The aim is to capture as much Redfin home purchase business as possible. And of course Rocket will also try to capture mortgage refinance business as well.
It’ll be interesting to see how much business they get via the integration, as the now defunct Redfin Mortgage only originated about $887 million in the first quarter of 2025 via just over 2,100 loans.
However, it should be noted that Redfin Mortgage achieved an attach rate of 29% during the first quarter, the best quarter on record for mortgage cross-selling at the company.
But it was relatively flat from 28% in the first quarter of 2024, so perhaps they were plateauing a bit.
My guess is Rocket will do a much better job converting Redfin customers into Rocket Mortgage customers as well.
Rocket Preferred Pricing Launched for Redfin Users
Speaking of, as part of the launch, Rocket is offering a new perk known as “Rocket Preferred Pricing.”
This is a special discount reserved for those who use a Redfin agent to buy a home, or if they purchase a property listed by a Redfin agent.
Assuming you meet the Redfin portion of the deal, and also finance the home purchase through Rocket Mortgage, you get the choice of a one percentage point reduction in interest rate during year one, or a lender credit at closing, valued at up to $6,000.
In other words, you can get a temporary rate buydown that reduces your rate from say 6.5% to 5.5% for the first 12 months.
Or you can opt for the lender credit, which can reduce your closing costs or even result in a permanent mortgage rate buydown.
The new Rocket Preferred Pricing is available to customers buying a home with all types of loans, including conventional (conforming or jumbo), FHA, or VA loans.
This is the first of many synergies between the companies, with plans to launch additional products and services for home buyers, real estate agents, and mortgage brokers slated to take place in coming months.
So this is our first look at the tie-up between Rocket and Redfin, which looks largely as expected. Lots of mortgage integration in both the app and the website.
Most importantly, the transaction has actually closed, and Redfin shareholders are now Rocket (NYSE: RKT) shareholders.
At last glance, RKT shares were up about 40 cents, or 2.86%, to $14.58 on the news.
