Average long-term US mortgage rate hovers near 7%

The average 30-year fixed loan was 7.08% this week, according to Bankrate’s latest survey of large lenders. Here’s what a monthly mortgage payment at the current rate would look like.

Settlement eliminates standard Realtor commission

The National Association of Realtors (NAR) has agreed to pay $418 million in damages, and eliminate its rules on commissions to settle several antitrust class action lawsuits – a decision that could ultimately change the way real estate agents are paid going forward.