When mortgage rates surged off their record lows in early 2022, the housing market ground to a halt.In the span of less than 10 months, 30-year fixed mortgage rates climbed from the low-3% range to over 7%.While a 7% mortgage rate is historically “reasonable,” the percentage change in such a short period was unprecedented.Mortgage rates increased about 120% during that time, which was actually worse than those 1980s mortgage rates you’ve heard about in terms of velocity of change.The rapid ascent of interest rates was severe enough to introduce us to a new phrase, mortgage rate lock-in.In short, existing homeowners became trapped in their properties seemingly overnight because they couldn’t leave their low rates behind...
Graph machine learning remains a popular research direction, especially with the wave of AI4Science driving increasingly diverse applications of graph data. Unlike general image and text data, graphs stand as a mathematical abstraction that describes the attributes of entities and their interactions within a system. In this regard, graphs can not only represent real-world physical systems of different scales (such as molecules, protein interactions, social networks, etc.), but also describe certain abstract topological relationships (such as scene graphs, industrial processes, chains of thought, etc.).How to build universal foundation models for graph data is a research question that has recently garnered significant attention. Despite the powerful representation capabilities demonstrated by existing methods such as Graph Neural...