RDFN Stock Recent News

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — Homebuyers locked in nearly 70% more mortgages than they did a month earlier on September 23, according to a new report from Redfin, the technology-powered real estate brokerage. The report analyzes mortgage rate-lock data from Optimal Blue. The surge in mortgage-rate locks comes five days after the Fed cut interest rates for the first time in four years. It's worth noting that the surge in mortgage-rate locks may overstate the increase in mortgage dem.

Although this real estate disruptor has more than doubled since midyear, it could have much more upside ahead.

SEATTLE--(BUSINESS WIRE)-- #housingmarket--(NASDAQ: RDFN) —The typical San Jose, CA homebuyer's monthly housing payment has fallen more than $2,000 from its springtime peak, landing at $9,398 in mid-September. That's according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. San Jose saw the biggest drop in monthly housing payments among the U.S. metros Redfin analyzed. Housing payments are falling due mostly to lower mortgage rates: In anticipation of the Fed's historic i.

SEATTLE--(BUSINESS WIRE)-- #housingmarket--(NASDAQ: RDFN) — The typical renter household in a swing state earns an estimated $50,267 per year—$10,365 less than the $60,633 a renter must earn to afford rent for the median priced apartment in a swing state. That's according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. In other words, the typical swing state renter household earns 17.1% less than they need to afford the typical apartment. That's a sizable shortfall, but i.

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The median U.S. housing payment was $2,534 during the four weeks ending September 15, down 2.7% from a year earlier–the biggest decline since May 2020, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Monthly payments are falling because mortgage rates dropped to their lowest level in 20 months in the lead-up to the Fed's first interest-rate cut since 2020. Mortgage applications are rising, but pending s.

The Federal Reserve's long-awaited interest rate decision came in with the  first cut in four years ; 50 basis points.

SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) —U.S. home prices grew 0.5% in August on a seasonally adjusted basis, the largest month-over-month increase since April, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. On a year-over-year basis, home prices rose 6.7%, the lowest annual increase since January. Home prices continue to rise in part because there aren't enough homes for sale. Housing supply is up 16.7% from a year ago, but is still down almo.

The U.S. 30-year fixed mortgage rate declined from 7.79% to 6.2% over the past year. The Federal Reserve could slash the federal funds rate by 125 basis points before the end of 2024.

Redfin (RDFN) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Redfin (RDFN) stock price has gone parabolic since I wrote about it in August. It soared to a high of $14.5 on Friday, its highest level since August 2023 and 200% above its lowest level this year.