Redfin’s bid to overthrow traditional brokers still a house-to-house battle

Redfin began 10 years ago with ambitions of using technology to revolutionize the residential real-estate business, but it still has less than a 3 percent market share on its home turf. Both the startup and its rivals have learned a lot, and changed a lot.

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Republican senators advance plan to deregulate mobile-home loans

Republican senators advanced a plan Wednesday to roll back financial industry regulations, including consumer safeguards for costly mobile-home loans. Before the vote, Democrats on the Senate Banking Committee pushed to scale back the overall bill, offering an amendment that would have left mobile-home safeguards untouched. But Republicans squashed that proposal and approved the overall plan...

US home sales slide in April amid listing shortage

WASHINGTON (AP) — Sales of existing U.S. homes slipped in April due mainly to relatively few listings and rising prices, providing evidence of the housing sector's uneven recovery. The National Association of Realtors said Thursday that sales of existing homes fell 3.3 percent to a seasonally adjusted annual rate of 5.04 million. April marked the...

Average US rate on 30-year mortgage slips to 3.84 percent

WASHINGTON (AP) — Average long-term U.S. mortgage rates edged slightly lower this week after rising for three straight weeks. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage ticked down to 3.84 percent this week from 3.85 percent a week earlier. The rate on 15-year fixed-rate mortgages slipped to 3.05...

Renters appear more satisfied in many pricey US cities

WASHINGTON (AP) — High rents are worth it. At least that's the sentiment of apartment dwellers in New York, San Francisco and Washington, who say they're more satisfied living in those cities than do renters in far more affordable areas such as Milwaukee, Albuquerque and Detroit. The finding comes from a survey released Thursday by...

Surge in home construction is lifting hopes for US economy

WASHINGTON (AP) — The U.S. housing market has given a sudden jolt to what appeared to be a slumping economy. Builders broke ground on homes last month at the fastest pace in more than seven years. The stepped-up construction is helping boost sales at stores like Home Depot and Lowe's and improving the likelihood that...

US homebuilders’ confidence in sales prospects ebbs

U.S. homebuilders are feeling slightly less confident about their sales prospects, a reflection of the sluggish start to this spring's home-selling season. Even so, builders' overall sales outlook remains favorable. The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped to 54 this month, down two points from 56 in April. Readings...

Super-priority liens pose perils for homebuyers

Super-priority liens give a community association the power to initiate foreclosures and get first crack at the proceeds from the sale of a delinquent dwelling unit before the traditional first-lien held by the mortgage lender.