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After a slight uptick to 7.19% a week ago, the 30-year fixed-rate mortgage (FRM) averaged 7.31% this week, its highest level in 23 years, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac, released Thursday. This week’s numbers: 30-year fixed-rate mortgage averaged 7.31% as of September 28, 2023, up from last week…

The post Mortgage Rates Reach Highest Level in Almost 23 Years appeared first on RISMedia.

The Power Broker Roundtable is brought to you by the National Association of REALTORS® (NAR) and Kymber Lovett-Menkiti, NAR’s Broker Relations Liaison. Watch for this column each month, where we address broker issues, concerns and milestones. Moderator:  Kymber Lovett-Menkiti, President, Keller Williams Capital Properties, Washington D.C., Broker Liaison for the National Association of REALTORS® (NAR) …

The post Remaining Resilient in an Uncertain Market appeared first on RISMedia.

If Congress is unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government by September 30, 2023, the result will be a partial shutdown of some government operations of interest to the real estate industry. A summary of the impact on selected agencies is provided below.  Environmental Protection Agency…

The post NAR Outlines What a Government Shutdown Means for the Real Estate Economy appeared first on RISMedia.

AI. This year, you don’t have to say much more than that to get people’s attention. The shocking power of these “large language models” like ChatGPT were obvious to everyone who used them, performing complex tasks and responding to messages with eerily human-like abilities (sometimes). What does AI mean to the real estate industry? Seemingly…

The post AI Is ‘Not a Spectator Sport,’ Real Estate Leaders Claim at RISMedia CEO & Leadership Exchange appeared first on RISMedia.

Pending home sales fell 7.1% in August, according to the latest data from the National Association of REALTORS® (NAR). This reverses the slight 0.9% increase seen in July. NAR’s Pending Home Sales Index (PHSI) for August registered at 71.8, reflecting a moderate level of activity (an index of 100 is equal to the 5 to…

The post Pending Home Sales Slip in August appeared first on RISMedia.

It is the sad truth that real estate professionals face risk every day. The National Association of REALTORS® (NAR) is wholly committed to the welfare of its members and helping them stay safe from all types of criminal activity, including both physical threats and cybercrimes. To raise awareness and help members protect themselves, NAR has…

The post Taking Agent Safety Seriously appeared first on RISMedia.