Rocket, which owns Rocket Mortgage, Rocket Money and more, is planning to diversify its approach to reach more consumers in the face of weak demand.

The mortgage industry is struggling with higher rates and a sharp drop in buyer demand. Rocket RKT says it's got a plan to turn things around.

There's turmoil in the sector. Volume of originations and refinances has plunged. The Market Composite Index, a measure of mortgage application volume, fell to 255 in the week ending Sept. 9. A year ago, the index stood at 707.9.

Buyers — and sellers too — are hesitant. And that's pushed lenders to take steep cuts.