The 30-year fixed-rate mortgage dropped a quarter of a percentage point this week, as home buyers prove their rate sensitivity.

Influencer marketing can help a brand's social capital, but choosing the right influencer is what will make or break the campaign, according to Jason Miller, CEO of Strategic Advisor Board. Companies should figure out their marketing goal, whether that be increased sales, lead generation or brand awareness, and honestly communicate what they want to accomplish to the influencer for the best results.

Jeff Cayley, owner of Worldwide Cyclery, has been creating content to showcase his products for eight years and believes that it not only drives sales but creates positive feelings surrounding a brand or company. It can also serve as a revenue source, like for iBurn hot sauce shop owner James Beck, who began making content to promote his sauces but found he made more money from his viral videos than actual products.

While that's unwelcome news for buyers, "homeowners have accumulated sizable wealth," says NAR Chief Economist Lawrence Yun.

Median apartment rents on new Manhattan leases dropped 3.6% in October from the previous month to reach $4,195, according to Miller Samuel and Douglas Elliman Real Estate. Rents have declined from the $4,400 seen in July and August, but they're still about 20% higher than they were before the pandemic, according to Jonathan Miller, president of Miller Samuel.

Joanna Gaines says a simple glass vase combined with leaves cut from outside offers a budget-friendly centerpiece idea that brings the outside to interiors.

Luxury furniture retailer Vesta has purchased furniture rental companies Fernish and Feather and the three will operate under the new Showroom banner that will be led by Vesta CEO Julian Buckner. Next steps include integrating the technology behind renting, selling and staging, expanding Fernish and Feather to more cities and adding commercial furniture rentals into the mix, says Buckner.

Connecticut real estate pro Carla Presz used arts and crafts to help her ill daughter feel purpose at the end of her life. Now Presz is supplying hospitals with art kits.

Calling all young, ambitious real estate professionals! Fill out an application by Jan. 17 for your chance to be a part of the 2024 class of 30 Under 30.

The California Home Act, effective since January 2022, allows homeowners to split their residential lots into two, enabling the construction of up to four living units, with a maximum of two units per lot. This development, along with recent legislative changes, offers homeowners and real estate investors new opportunities for constructing and selling accessory dwelling units potentially increasing housing availability and affordability.

Federal Reserve Bank of Chicago President Austan Goolsbee said in an interview that the central bank will need to be wary of the impact of higher longer-term bond yields to ensure they do not have too much of a slowing effect on the economy in the next year. The Fed is moving away from its focus on how much to boost interest rates and paying more attention to how long to hold them near their current high. Goolsbee said he remains optimistic about the economy's current path.