Newark Daily Brief: Two Homes In, Four Out, as Rates Reach a One Year High

Mortgage News Daily has the 30 year at 7.17% and the 15 year at 6.70%, both up 0.05 from Friday and the highest readings of the past year. The Fed meets Wednesday, and prediction markets Kalshi and Polymarket both put the odds of a quarter point rate hike at 84.5% this morning. The 10 year Treasury closed Friday at 4.96%, and mortgage rates follow the 10 year.

Two homes joined the list, four left

Newark's buyable list of houses and townhomes went from 67 on Friday to 65 today. Two homes arrived, both with four bedrooms. Four homes left the list, and one home moved from coming soon to active.

One price cut, one price raise

One townhome seller cut the asking price, and another townhome seller raised theirs. Ten houses and townhomes now sit under a million.

Newly listed in Newark

The 6 newly listed homes are all houses, evenly split between three and four bedrooms.

Nine homes sit in the coming soon queue, down from eleven, as one went live and another left the list.

What we would do with this

If you are buying, ten homes under a million and a price cut this weekend say sellers are listening; talk to your lender about locking before Wednesday's Fed decision. If you are selling, three homes left the list after a week or more on the market, and a 7% rate is the market you are pricing into.

Questions about a specific street or a specific home? Harv Balu and Liliana Mayen are glad to walk you through it.