Redfin Reports the Cost of Buying a Home Hits New Record As Mortgage Rates Jump, Prices Rise 5%
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Daily average mortgage rates jumped to their highest level since last November after last week’s disappointing inflation report SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) —The median U.S. home-sale price increased 5% from a year earlier during the four weeks ending April 14, bringing it to $380,250—just $3,095 shy of June 2022’s all-time high. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.The average daily mortgage rate this week surpassed 7.4%, the highest level since last November, after a hotter-than-expected inflation report and the Fed’s confirmation that interest-rate cuts will be delayed. The combination of high mortgage rates and prices have brought homebuyers’ median monthly housing payment to a record $2,775, up 11% year over year.There are signals that buyers are out there touring homes despite rising rates. Mortgage-purchase applications are up 5% week over week, and Redfin’s Homebuyer Demand Index—a measure of req
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RDFN
Earnings
- 2/27/24 - Beat
RDFN
Sec Filings
- 4/26/24 - Form 3
- 4/25/24 - Form ARS
- 4/25/24 - Form DEFA14A
- RDFN's page on the SEC website