Baby boomers and the Silent Generation are expected to release millions of homes over the next decade, but most will be family-sized or larger, offering limited relief for first-time buyers.

The rate on 30-year mortgages climbed to 7.40% from 7.28% last week, while the average 15-year rate increased to 6.73% from 6.60% last week.

Real estate brokerages plan to expand AI use for recruiting, administrative work and customer management, according to a Delta Media Group survey.