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Essex County October Housing Report 10/16/2023

Essex County October Housing Report 10/16/2023

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

 

First Time Home Buyer's Guide

First Time Home Buyer's Guide

The process of buying a home can be overwhelming at times, but you don't need to go through it alone. You may be wondering if now is a good time to buy a home… or if you should continue renting. I put together a free eGuide for you that will answer many of your questions and likely bring up a few things you haven't even thought about yet. Just click the button below to read it now!

Read Your Guide Now