Redfin Reports Buyers Are Coming Back: Mortgage Demand Shoots Up, Home Tours Hit Highest Level Since May
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Mortgage-rate locks rose 68% from a month earlier in the days after the Fed announced its interest-rate cut. Many house hunters had been waiting for the Fed’s cut before locking in a mortgage rate. 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 demand, as it could be exacerbated by buyers who had already decided to purchase a home but were waiting to lock in a rate until after the Fed meeting.Still, there are other indicators that demand is improving. Mortgage-purchase applications are up more than 10% month over month. Additionally, Redfin’s
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RDFN
Earnings
- 8/6/24 - Beat
RDFN
Sec Filings
- 8/28/24 - Form 4
- 8/27/24 - Form 4
- 8/23/24 - Form 144
- RDFN's page on the SEC website