Rocket Companies (NYSE:RKT) stock is surging on Wednesday, following the release of positive U.S. housing data and an increase in mortgage refinancing activity.Mortgage Applications Show Weekly Gains“Purchase application volume edged slightly lower, while refinance activity posted modest gains,” stated Mike Fratantoni, MBA’s SVP and Chief Economist. “Despite the elevated mortgage rates and overall economic uncertainty, mortgage application volume is running 8 percent above year-ago levels.”Easing Loan Rates Assist DemandA separate Primary Mortgage Market Survey by Freddie Mac as of June 18, showed the 30-year fixed-rate mortgage decreased to an average of 6.47%, down from 6.52% the prior week. Freddie Mac noted that incoming data reflects a resilient consumer, with improving retail sales and strengthening pending home sales suggesting that purchase demand continues to modestly improve.Technical AnalysisRKT is now trading above its 20-day SMA ($13.61) and 50-day SMA ($14.28), which often shifts the near-term conversation from sell rallies to buy dips as long as those averages start acting like support. At the same time, the stock is still trading 11.7% below its 200-day SMA ($17.17), so the longer-term trend picture hasn’t fully repaired yet.The bigger backdrop is still a bit heavy: the 20-day SMA remains below the 50-day SMA, and the 50-day SMA is below the 200-day SMA (the death cross that occurred in March).