“With this increase, we expect this is the peak rate for this cycle, and potential homebuyers and their mortgage lenders may be breathing a sigh of relief. We continue to expect that mortgage rates will drift down over the course of the year as the economy slows, as we move closer to the Fed lowering rates beginning in 2024, and as financial market volatility finally begins to settle down.” --Mike Fratantoni, Chief Economist with the Mortgage Bankers Association.

Avison Young, Toronto, represented entertainment lighting company Chauvet Lighting in the $14.2 million sale of its 61,660-square-foot warehouse at 5200 NW 108th Avenue in Sunrise, Fla.

MISMO®, the real estate finance industry standards organization, seeks public comment on a new Consumer-Facing Charge and Fee Guide. The 60-day public comment period runs through July 3.

The Mortgage Bankers Association welcomed the following new members in April: