What did the July 2023 inflation metrics say?

Woman Kayaking with her Dog in New Hampshire

Inflation metrics for July 2023 meet expectations

The U.S. government released Personal Consumption Expenditure (PCE) data for July 2023 on Thursday. PCE data is one set of metrics the government uses to measure inflation. PCE prices and core PCE prices were both over 0.2% month-over-month. The 0.2% mark was in line with estimates. Personal spending was up slightly at 0.8% month-over-month, and personal income was up 0.2%.

Year-over-year metrics were also in line with analyst’s estimates at 3.3%. While this is still above the Federal Reserve’s 2% target, previous months had been in the mid 4’s, so a number in the 3’s is seen as progress.

Housing was only up 0.4% month-over-month, but 5.2% year-over-year, and remains one of the stickier parts of the PCE index.

How did a couple find a home in Manhattan for less than $500k?

Two renters, Emma Colley and Shom Mazumder, sought to buy an apartment in Lower Manhattan with a budget of less than $500k. They were able to get a down payment together, find a mortgage, and ultimately find a place that met their needs and their budget. How did they do it?

First of all, they were realistic. They set a budget, knew what they could likely afford, and were willing to compromise. Second, they lived within their means, and looked for a walk-up. “A walk-up is the name of the game. I didn’t think we had an elevator budget,” said Mr. Mazumder. They ended up settling on a 500 sq. ft. studio apartment in the East Village. It includes a five-story walk-up, a Murphy bed, and a sizable bathroom. It doesn’t have a laundry room, but the laundromat was on their block. 

How much does serenity in New Hampshire cost?

Have you ever considered living on a private island? If so, a newly listed property in New Hampshire may be ideal for you. A home on a half-acre island sits in a wooded retreat near Meredith, NH. The property includes a main house, a guest cottage, and a boat house.

The home is a four-minute ride from the mainland and comes with mainland docking included.

Built in 1900, the main home comes with 360-degree water views on a dramatic wraparound porch, refinished kitchen cabinets, new hardwood floors, and other modern amenities. It also doesn’t have any neighbors for miles.

The price tag for the island, the home, the guest cottage, and the docking? Only $4.2 million. If you can afford it, one of the most serene properties in the Northeast can be yours.

in 10 minutes?

The pre-approval process is lightning fast, and can be completed
in under 10 minutes. Grab a few important documents to get started.
  1. Tax Returns
  2. Copies of W-2s (or 1099s for independent contractors,
    freelancers and the self-employed)
  3. A payroll stub
  4. A bank statement
  5. Loan obligation info (student loans,
    auto loans and credit cards)

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply. 

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.