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Real estate groups urged the Fed to stop rate hikes. Here’s why._我的网站

太极张三丰

A | Major housing industry groups voiced "profound concern" in a letter this week urging the Federal Reserve to stop raising interest rates.The rare public admonishment from top business advocates -- including the National Association of Realtors and the National Association of Home Builders -- underscores a dramatic slowdown in the housing market due in large part to rising interest rates.The letter arrives roughly three weeks before the Fed plans to make its latest rate-hike decision.Mortgage rates have reached their highest level in more than two decades and they have continued to rise. Data released on Thursday showed that mortgage rates increased for the fifth consecutive week, according to Freddie Mac."The speed and magnitude of these [mortgage] rate increases, and resulting dislocation in our industry, is painful and unprecedented," the letter from the housing groups said.Here's what to know about why real estate groups called on the Fed to stop raising rates:

What's happening in the housing market?

Sky-high mortgage rates have dramatically slowed the housing market, since homebuyers have balked at stiff borrowing costs and home sellers have opted to stay on mortgages that lock them into relatively low rates.Mortgage applications have fallen to their lowest level since 1996, the Mortgage Brokers Association said earlier this month.Sales of previously owned homes, meanwhile, have plummeted more than 15% compared to a year ago, the National Association of Realtors found in August.The slowdown has coincided with a sharp rise in costs for potential homebuyers.The average interest rate for a 30-year fixed mortgage has climbed to nearly 7.6%, Freddie Mac data shows.When the Fed initiated the rise of bond yields with its first rate hike of the current series in March 2022, the average 30-year fixed mortgage stood at just 4.45%.Each percentage point increase in a mortgage rate can add thousands or tens of thousands in additional costs each year, depending on the price of the house, according to Rocket Mortgage.

What role is the Federal Reserve playing in the housing market slowdown?

An aggressive series of interest rate hikes at the Federal Reserve since last year has pushed up the 10-year Treasury yield, which loosely tracks with long-term mortgage rates.The Fed has fought elevated inflation with borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand.While inflation has fallen significantly from a peak of about 9% last summer, price increases remain more than a percentage point higher than the Fed's inflation target.Price increases held steady in September, fresh data on Thursday showed, suggesting that elevated inflation remains resistant to the interest rate hikes.The persistence of elevated inflation has prompted the Fed to espouse a policy of holding interest rates at high levels for a prolonged period, which in turn has increased the 10-year Treasury yield and put upward pressure on mortgage rates.Moreover, the Fed expects to raise rates one more time this year, according to projections released last month.Speaking at a press conference in Washington, D.C., last month, Fed Chair Jerome Powell acknowledged the continued effect of interest rates on mortgages, noting that activity in the housing market "remains well below levels of a year ago, largely reflecting higher mortgage rates."

What do the housing industry groups want the Fed to do?

Housing industry advocates want the Fed to take swift actions that reassure investors and other market participants of an end to the policies cooling the industry.Most notably, the industry groups want the central bank to release a statement saying that it has abandoned consideration of additional rate hikes.In their letter to Fed officials, the housing groups cautioned that a further slowdown in real estate could help tip the U.S. economy into a recession, scuttling the central bank's effort to achieve a "soft landing.""We urge the Fed to take these simple steps to ensure that this sector does not precipitate the hard landing the Fed has tried so hard to avoid," the letter said.。 8月26日消息，三星宣布，全球首次研发出面向移动端及端侧AI设备的下一代内存——LPDDR-PIM，该技术将运算功能集成于移动内存中，可有效提升AI处理速度并降低功耗。

B |

在美国斯坦福大学举行的半导体学术会议Hot Chips 2026上，三星相关负责人首度公开展示了LPDDR5X-PIM的结构、规格及验证结果——该产品本月初刚在FMS 2026内存会议上斩获下一代内存奖项，但详细参数直到此次会议才正式披露。 PIM（内存内运算）技术通过在内存中嵌入运算单元，使部分计算可直接在内存内部完成，无需像传统架构那样将数据频繁搬运至CPU或GPU再传回内存。

C | 对于AI运行而言，数据搬运是主要性能瓶颈之一，应用PIM后，简单运算就近处理，从而在提升速度的同时显著降低功耗。

在测试环节，三星以参数规模达80亿的Meta开源AI模型Llama 3.1为基准，结果显示LPDDR5X-PIM的处理时间为5.4秒，较普通LPDDR5X的12.3秒快了约2.3倍；每秒令牌处理量达81.3 TPS，为现有产品27 TPS的三倍。事实上，三星早在2021年便公布了面向高带宽内存的HBM-PIM技术并完成开发验证。此次将PIM落地于智能手机等移动设备广泛采用的LPDDR低功耗内存，正是顺应大语言模型向小型化、高效化演进的新趋势。