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- Zillow to ban listings that are privately marketed
Zillow to ban listings that are privately marketed
Plus: Inflation rate eases to 2.4% in March
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Disclaimer: Average mortgage rates as of April 10, 2025. © MND Daily Rate Index.
1. Zillow to ban listings that are privately marketed
Zillow announced new rules for marketing properties on its websites and apps, requiring sellers' agents to list homes widely via multiple-listing services within 24 hours of posting online. Listings not complying with the 24-hour rule will be banned from Zillow's websites and apps.
Set to take effect in May, the policy escalates tensions with Compass, which has promoted private-listing services as a growth strategy. Zillow claims its goal is to increase transparency and fairness for buyers and sellers.
“There are a small number of very loud voices trying to make the argument that somehow hiding listings is a good thing. Often because they’re putting their own interests ahead of the interests of the seller.”
2. Inflation rate eases to 2.4% in March
Inflation fell more than expected to 2.4 per cent in March, as the Federal Reserve grapples with how to respond to President Donald Trump’s abrupt U-turns on tariffs.
Thursday’s annual consumer price index figure from the Bureau of Labor Statistics was below both February’s reading of 2.8 per cent and the 2.5 per cent forecast by economists polled by Bloomberg.
“Easing inflation combined with President Trump's announcement of a 90-day pause in his reciprocal tariffs should help alleviate some concerns for the Federal Reserve when it meets on May 7 to make its next interest rate decision”
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3. More Nuggets
📈 Mortgage rates are actually much higher this week. (MND)
🙏 Equity Prime Mortgage executive, 53, passes away after battle with cancer. (HW)
🏡 Hispanic home values reach $2 Trillion, but growth trails behind. (Redfin)
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4. Down payments reach a historic high
The last three months of 2024 saw down payments increase to 14.4% and $30,250 nationally, setting a new fourth-quarter record.
As a whole, 2024 experienced the highest down payments in the Realtor.com data’s history stretching back to 2013, as both a dollar amount and a share of purchase price, driven upwards by fast-paced price growth and feverish buyer competition.
5. Trigger lead bill reintroduced in Congress
Trigger lead legislation was reintroduced in the House and Senate yesterday, aiming to prohibit credit bureaus from selling consumer data after mortgage credit reports are pulled.
Similar legislation nearly passed last year but was removed from the National Defense Authorization Act at the last minute.
The current House version, introduced by Reps. John Rose (R-Tenn.) and Ritchie Torres (D-N.Y.), would ban trigger lead abuses while allowing exceptions for the consumer's current lender, mortgage servicer, or bank. Mortgage industry groups support the legislation, citing protection from unwanted calls, texts, and emails as its key benefit.
6. Gary Keller and former KW CEO legal battle
Keller Williams co-founder Gary Keller is asking a federal court to sanction former CEO John Davis for what he describes as 'baseless attacks' against him, his family, and the company.
In a recent court filing, Keller seeks to have Davis held in contempt, remove a controversial document from the public record, and compel Davis to pay legal fees.
The disputed document alleges misconduct and financial impropriety involving Keller's son, company executives, and Keller himself. Keller Williams denies the claims, calling them false and part of Davis's smear campaign.
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