Delaware home sales continue to be resilient in the face of higher prices and mortgage rates. Delaware also fared better than the September sales number for the U.S. as a whole, down 1.98% from August, according to the National Association of Realtors. Interest rates remain at 22-year highHousing affordability is a combination of home prices and mortgage rates. Mortgage rates are affected by the Federal Reserve which has been raising interest rates in an effort to lower inflation. “The Federal Reserve simply cannot keep raising interest rates in light of softening inflation and weakening job gains,” Yun said.

Source: Forbes October 30, 2023 08:54 UTC