❄️ Inflationary Residue

Good Morning ☕️
On Wednesday December 13th we will hear from the federal open market committee (The Federal Reserve) if they plan to leave interest rates unchanged, increase, or decrease the rate.
current expectation is for the fed to leave the federal funds rate unchanged - which will in turn leave mortgage rates at the current level.

the fed’s decision is mostly based on inflationary factors.. see below for an interesting chart from bloomberg showing basic food prices since 2020.

Listing of the week
📍7 HILLSIDE AVENUE, GOLDENS BRIDGE, NY 10526

this modern home sits on nearly 1 acre of wooded property & has been renovated into pristine condition.
💰 listed at $779,000 - current taxes are $11,711.
🏡 Built in 1950, the home is 1,985 sq. ft.

homebuyer challenges

Vox walks us through the challenges buyers are facing in the housing market - in summary:
home prices have increased while median income remains flat.
mortgage rates have increased to nearly 8% causing sellers with a lower rate to stay where they are - limited inventory.