Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. Hardy v. NAR: Brokers appeal MLS membership antitrust challenge Brokers Douglas Hardy, Glenn Champion and Dylan Tent filed an appeal to the Sixth Circuit after a federal judge dismissed their antitrust lawsuit challenging…
Following the big news of REMAX being acquired by The Real Brokerage, the company’s CEOs were quick to express confidence that the two companies had plenty of synergy and that the stunning joining of forces was the right move at the right time. In an interview with RISMedia, as well as speaking to investors shortly…
Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. – Mortgage rates trickled down the week of April 20, with the 30-year fixed-rate dropping from 6.30% to 6.23%, but economists such Bright MLS’ Lisa Sturtevant and Realtor.com®’s Joel Berner said that economic headwinds…
In yet another massive consolidation move, upstart Real Brokerage announced it is acquiring REMAX for $880 million, with Real CEO Tamir Poleg taking the reins of what will now be known as Real REMAX Group. The deal comes on the heels of several other mega-mergers in the space, most notably Compass’s acquisition of Anywhere and…
A little over a week after Zillow sought to clarify its discussions with Chicago-based Midwest Real Estate Data (MRED) over restrictions on private listings, the MLS appears to be digging in, as this week MRED CEO Rebecca Jensen sent an emotional open letter to members defending its private listing network against a “one-size-fits-all model.” With…
Consumer views on the economy continue to muddle for another month as the Iranian conflict looms over oil and gas prices, according to the latest Survey of Consumers from the University of Michigan. The index of Consumer Sentiment fell 6.6% month-over-month to 49.8 (from 53.3 in March), down 4.6% year-over-year and is “now comparable to…
Chicago-based MLS Midwest Real Estate Data (MRED) just announced a seemingly transformative nationwide expansion of its platform (and private network), aiming to give agents across the country access to an MLS-backed platform for so-called “pre-marketed” properties as the industry rapidly shifts toward these new options. In an announcement shared with RISMedia, Compass International Holdings (which…
Mortgage rates have reached their lowest point since mid-March but economists worry inflation and economic uncertainty caused by tensions in the Middle East will result in temporary decreases versus more sustained stability. The average mortgage rate ticked down 7 basis points to 6.23%, down from 6.30% last week, according to the latest Primary Mortgage Market…
A woman is suing Bank of America and a Virginia-based appraiser for racial discrimination, the latest Fair Housing-related lawsuit alleging that lenders and appraisers undervalue homes based on the race of the occupants. Darchelle Braxton, a Black woman who last summer attempted to secure a loan for home improvements on an investment property, claims an…
An average of 7.6% of potential homebuyers searching on Zillow also shop for rentals, according to Zillow’s new report on “dual shoppers,” highlighting the continued affordability challenges faced across the U.S. as buyers weigh their options. Overall, in the U.S., Zillow found that it is typically $415 cheaper to rent than own (including mortgage payments,…
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