Mortgage rates fell for the first time in three weeks this week, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage decreased to 6.3% from last week's reading of 6.34%. The average rate on a 30-year loan was 6.32% a year ago. An "open house" sign in front of a home for sale in the Woodland Hills neighborhood of Los Angeles, California. "Over the last few weeks, mortgage rates ha ...

SEATTLE--(BUSINESS WIRE)--Roughly 56,000 U.S. home-purchase agreements were canceled in August, equal to 15.1% of homes that went under contract that month, according to a new report from Redfin, the real estate brokerage powered by Rocket. That's up from 14.3% a year earlier and marks the highest August rate in records dating back to 2017. Home purchases are falling through more frequently because buyers and sellers oftentimes aren't on the same page and aren't willing to compromise. Buyers ar. ...

SEATTLE--(BUSINESS WIRE)-- #housingmarket--One of every six (16.7%) U.S. home sellers dropped their asking price in August, up from 15.9% a year earlier and the highest share for that month in records dating back to 2012. That's according to a new report from Redfin, the real estate brokerage powered by Rocket. August saw the highest share for any time of year except the previous two months, when the portion of listings with a price cut hit 16.8% (June) and 17.4% (July). Note that the share of listings with ...

Core Viewpoint - Redfin and Zillow assert that their partnership does not violate antitrust laws despite facing legal challenges from multiple states and the FTC [1][2]. Group 1: Legal Allegations - Five states, including Arizona, Connecticut, New York, Virginia, and Washington, have filed an antitrust lawsuit against Redfin and Zillow [2]. - The lawsuit claims that the companies unlawfully eliminated competition by agreeing that Zillow would pay Redfin $100 million to cease competing for multifamily housing listings [3]. - Virginia Attorney General Jason Miyares stated that this arrangement harms renters and property owners by undermining market incentives for quality services [4]. Group 2: Company Responses - Redfin has publicly disagreed with the allegations and anticipates being vindicated in court [5]. - Redfin argues that its partnership with Zillow enhances the number of rental listings available to website visitors and provides advertisers with access to more potential renters [6]. - Zillow claims that the partnership is beneficial for both renters and property managers, increasing access to multifamily listings across platforms [7].

Zillow Group and Redfin were sued on Wednesday by five states for allegedly conspiring to thwart competition in online rental listings, including when Zillow paid Redfin $100 million to stop running apartment ads.Attorneys general of Virginia, Arizona, Connecticut, New York and Washington filed their antitrust lawsuit in the Alexandria, Virginia federal court. The Federal Trade Commission filed a similar lawsuit there on Tuesday.Both cases stemmed from a February agreement between Zillow and Redfin, which t ...

Attorneys general from five states sued Zillow and Redfin on Wednesday, alleging the companies schemed to stop competition in the online housing rental market.The lawsuit follows a similar one filed by the Federal Trade Commission on Tuesday.Officials from New York, Arizona, Connecticut, Washington and Virginia jointly filed the lawsuit Wednesday, citing a February deal between the two companies in which Zillow "paid Redfin $100 million to shut down its apartment rental advertising business and transfer its ...

Skip to Main Content This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. FTC Sues Over Zillow, Redfin Rentals Deal. Competition Is the Big Issue. By Shaina Mishkin Share Resize Reprints In this article Z Zillow Group's rental syndication agreement with Redfin is the subject ...

Five U.S. states have filed an antitrust lawsuit accusing Zillow Group and Redfin Corp of running an illegal scheme to stop competing for apartment advertisements. ...

NEW YORK (AP) — The U.S. Federal Trade Commission is suing Zillow and Redfin, accusing the real estate companies of entering what the regulator says is an illegal deal to suppress competition in online rental advertising. In a lawsuit filed on Tuesday, the FTC alleges that this agreement started in February — when Zillow paid Redfin $100 million. In exchange for that and other compensation, the commission said, Redfin agreed to end contracts with advertising partners, stop competing ads for multifamily pr ...

We have breaking news on the housing front now. Diana Ol with the details. Hey D. >> Hey Scott.Yeah, the Federal Trade Commission just announced it is suing Zillow and Redfin over what it alleges is an unlawful agreement that eliminates Redfin as a competitor in the market for advertising rental homes on internet listing services. That's ILSS. That's like the MLS for rentals as opposed for home buying, the websites renters use to find listings.Now, Redin and Zillow operate two of the largest rental ILS netw ...