Inflation Remains Hot
Consumer Price Index (CPI) rose +0.4% in September and +3.7% for 12 months. Prices were driven by rising shelter and gasoline prices. Core Inflation (CPI less food and energy) rose +0.3% in September and +4.1% for 12 months, well above the Federal Reserve goal of 2%

30 Year Mortgage Rates Today Were 7.80% (Mortgage News Daily) 
Geopolitical problems and restrictive Federal Reserve policy adds pressure to interest rates.
Buyer Upside: Much less competition and buyers can refinance when rates fall.

Record low inventory keeps home pricing firm in spite of high rates