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Popular 30-year fastened mortgage rates are hovering at decadeslong highs of around 8%, and the supply of properties stays far beneath normal, not enough to meet demand. A U.S. homebuyer’s dollar now goes about half as far as it did in late 2020. The case hinged on the commissions, normally of 6%, that sellers pay their agents, who then cut up them with the buyers’ brokers. It has been a cornerstone of how the NAR — a robust commerce group of 1.5 million members — does enterprise.
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