CPI metrics indicate that inflation is cooling off, Mortgage market reacts
October’s consumer price index rose just 0.4% for the month, and 7.7% when comparing 2021 to 2022. This is the lowest increase since January and the first indication of a slowdown from the 8.2% mark from the previous month. Excluding food and energy prices, the Core CPI metrics increased 0.3% for the month and 6.3% on an annual basis.
All of these numbers were below market estimates. The stock market rallied over 1,000 points on Thursday. Mortgage rates reacted in kind and the national average closed at 6.62%, down from over 7%. Thursday’s performance was a record drop for a single day.
Are 3D printed houses the future of real estate?
The first major housing development to be built with 3D printing technology in the US has started on a site outside of Austin, Texas. Massive machines are printing 3- and 4-bedroom houses on site. Robotic construction may offer a way to cut labor costs, allow homes to be built faster, and enable home buyers to get quality homes for less.
This test is limited to just 100 homes, but there may be a wider roll out if this proves successful.
What does it mean when the housing market ‘corrects’?
Several industry experts have speculated that the housing market is headed for a ‘correction’, but what does it mean when the housing market corrects? U.S. News & World Report has an in-depth view of what it means when the housing market undergoes a correction and what it means to home buyers and homeowners.
A correction means when housing prices drop slightly, and there really isn’t a standard definition of how big of a drop constitutes a correction. There also isn’t really a standard for how long a correction could last. It’s also unclear if we’re in a correction right now, but we do know that housing prices have started to drop.
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