The Latest Breaking News from Redfin

Fair housing advocates have announced a settlement to resolve a lawsuit against real estate brokerage Redfin that will expand housing opportunities for consumers in communities of color

Online real estate brokerage Redfin Corp. agreed to stop refusing to provide service to lower-priced homes and will pay $4 million to settle a lawsuit brought by fair-housing groups who claimed the company’s “minimum price policy” disadvantaged non-White buyers and sellers.

The latest U.S. housing and mortgage data points to rates continuing their dizzying rise, fewer homes being sold and prospective buyers agreeing to purchase smaller properties.

Analysts have provided the following ratings for Redfin (NASDAQ:RDFN) within the last quarter:

The week in housing was one of great challenges, with mortgage rates cracking the 5% level while homeowners faced an uptick in property taxes and state attorneys general demanded that mortgage servicers drop their convenience fees charged to borrowers.

Mortgage rates are continuing their upward motion while potential homebuyers and sellers face a shifting housing market and the affordable housing sector welcomes a well-known new participant.

After dozens of showings and 22 offers in one day, a Northeast Philadelphia rowhouse left the market after two days. The house was listed at $175,000 — a popular price point. The winning bidder will pay more than $210,000.

Compared to other sectors of the wider economy, the housing and mortgage industries have traditionally been slower to embrace cutting-edge technologies and digital solutions. A myriad of reasons explain this pokey response to evolving change, ranging from the sector’s conservative risk tolerance to a lack of standardization in many evolving technologies.

The latest data news from the housing market included new records being achieved in single-family home and condominium sales, the 30-year fixed-rate mortgage crashing through the 4.5% level, and a warning from a prominent industry economist on the potential for a recession created by the Federal Reserve.