Rocket lays off 2% of workforce after closing Redfin acquisition
Detroit-based Rocket Companies confirmed a company-wide layoff on Friday, just weeks after completing its $1.75 billion all-stock acquisition of real estate brokerage Redfin. The cuts affected roughly 2% of the firm’s workforce.“Following the Redfin acquisition, we carefully reviewed our combined st
Two Idaho brokerages, agents named in RICO suit
Real estate agents at two Bonner County, Idaho-based brokerages are facing charges of breaching fiduciary duty and engaging in a racketeering scheme with developers to sell defective homes. The suit was filed on Friday in U.S. District Court in Boise by plaintiffs David and Linda Wittwer, The Wittwe
Mortgage spreads are almost back to normal
In a week marked by discussions of the potential firing of Federal Reserve Chair Jerome Powell and inflation data, mortgage rates remained relatively calm, thanks to improvements in mortgage spreads.Mortgage spreads have improved significantly since 2023, leaving us just 0.49% from normal levels, ba
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