Rocket-Redfin Deal Sparks Race for One-Stop-Shop for Homebuyers
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The acquisition of the broker Redfin by mortgage giant Rocket marks the latest attempt to provide homebuyers with a central point for all their purchase and loan needs. The competition to offer homebuyers everything from a single source, from searching for a home and securing a mortgage to closing the deal, is becoming increasingly fierce. Mortgage giant Rocket Companies (NYSE: RKT) has now agreed to acquire the real estate broker Redfin (NASDAQ: RDFN) in a deal valued at approximately $1.75 billion. A central point for customers is to be created...
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