The Latest Breaking News from Redfin

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.

Upgrades

Over the past 3 months, 4 analysts have published their opinion on Redfin (NASDAQ:RDFN) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Investor purchases of single-family homes shot up this year, bringing more competition for the average homebuyer in an already tense housing market.

Seven out of ten most expensive metro areas are in California

7 of the top 10 cities for $1M+ homes are in California

California had seven of top ten cities in new list