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Prices are softening, but affordability remains elusive

By Mark Huffman of ConsumerAffairs

• Home sellers are cutting asking prices, giving buyers more room to negotiate but discounts may not offset higher borrowing costs.

• The average 30-year mortgage rate reached 7.40% on October 8, up from 6.30% a year earlier, according to Freddie Mac.

• The softer market can benefit buyers with cash or substantial equity, while households dependent on financing still face steep monthly payments.

The housing market is in a rare position. Buyers have an increasing level of bargaining power but many still lack the money to make the purchase. A combination of high prices and rising mortgage rates are keeping homeownership beyond many household budgets.

While sellers are becoming more willing to negotiate, the payment needed to close the deal may still exceed the buyers budget.

That gap between bargaining power and purchasing power helps explain why a softer market does not automatically translate into more affordable homeownership.

Realtor.coms September report found that the median asking price was $419,250, down 1.4% from a year earlier. Meanwhile, 20.8% of listings had price reductions, the highest share since October 2022. The stock of listings under contract fell 4.1% from September 2025. Those figures describe asking prices and listing activity, rather than a uniform decline in completed-sale prices.

Rising mortgage rates

Borrowing costs are moving in the opposite direction. Freddie Mac reported that the average rate on a 30-year fixed mortgage reached 7.40% on October 8, compared with 7.28% the previous week and 6.30% a year earlier.

For buyers, those competing trends can mean a cheaper house comes with a more expensive payment.

Consider a hypothetical $400,000 home purchased with a 20% down payment and a 30-year mortgage at 6%. Monthly principal and interest would total about $1,919.

Heres an example

Now suppose the seller reduces the price by $20,000, to $380,000, but the buyers mortgage rate is 7.4%. With the same percentage down payment, principal and interest would rise to about $2,105 a month.

The buyer saves 5% on the purchase price but pays approximately $186 more each month. Property taxes, homeowners insurance, and any mortgage insurance or association fees would add to the bill.

Selling times also require a closer look. Realtor.com reported a national median of 61 days in September, one day longer than August but one day shorter than a year earlier. However, homes were taking longer to sell in 27 of the 50 largest metropolitan areas, including Baltimore and Charlotte.

The result is a market whose opportunities depend heavily on the buyers finances. A cash buyer can benefit directly from a price reduction without facing a higher mortgage rate. A homeowner carrying substantial equity into the next purchase may also need a smaller loan.

Problems for first-time buyers

For a first-time buyer financing most of the purchase, the same discount may provide much less relief. A lender evaluates whether the borrower can support the payment, and a sellers willingness to bargain cannot make an unaffordable payment fit a household budget.

Buyers who can proceed may be able to negotiate help with closing costs, repairs, or a mortgage-rate buydown. But temporary payment relief should be evaluated against the payment that takes effect when that assistance ends.

Freddie Mac also encourages borrowers to obtain multiple mortgage quotes, saying comparison shopping can potentially save thousands of dollars over a loans lifetime.

For sellers, the challenge is that an attractive discount must ultimately translate into a payment someone can manage. For buyers, the key question is whether the full cost of ownership fits their income even after the seller lowers the price.

When budgets are already tight, impulse buys can mean trouble

By Mark Huffman of ConsumerAffairs

• Merchants use checkout displays, limited-time offers, and free-shipping thresholds to encourage purchases shoppers hadnt planned.

• Faster online checkout can increase spending, while misleading countdown timers can pressure consumers to act before comparing prices.

• Shopping lists, spending limits, and a waiting period for nonessential purchases can help consumers keep more money in their budgets.

A shopper enters a store for a few necessities and leaves with a cart full of extras. Another goes online to replace one household item and adds several more to qualify for free shipping.

For consumers trying to build savings or stretch a paycheck, those small, unplanned purchases can undermine an otherwise carefully managed budget.

Retail promotions often encourage shoppers to focus on what they might save, rather than what they are about to spend. Recognizing that shift can help consumers take control of the decision.

First, theres temptation at the checkout. Candy, snacks, and inexpensive accessories put a buying opportunity directly in front of customers waiting to pay. A study involving observations of more than 2,800 grocery shoppers examined how time exposed to tempting checkout merchandise affected purchases.

A simple strategy

Consumers can make a final cart check before paying. Which items were on the list, and which arrived there simply because they were within reach?

Theyre called impulse buys because there is pressure to act quickly. Flash sales, countdown clocks, and limited-stock messages can make delaying a purchase feel like losing an opportunity.

Some deadlines are legitimate. But the Federal Trade Commissions (FTC's) 2022 report on deceptive website designs identified countdown timers that suggest an offer is expiring when it is not actually time-limited. The agency calls such manipulative designs dark patterns.

Take a breath

A useful response is to step away and compare the total price elsewhere. Even a real deadline does not make an unnecessary purchase affordable.

Spending more to get something free is not always a good strategy. Free-shipping thresholds give shoppers an incentive to add merchandise. Research on online retailing specifically examines this behavior, known as order padding adding items to qualify for free delivery.

Do the arithmetic before adding anything. If shipping costs $7, buying an unwanted $20 item to avoid that charge increases spending by $13, before any tax differences. Combining purchases already planned may make sense; inventing a new purchase may not.

Making payment almost effortless is another retail strategy. Saved cards and one-click ordering remove steps between wanting a product and buying it.

A Cornell-reported study published in 2023 examined 977 customers who adopted one-click checkout at a large Asian retailer. Their spending at that retailer increased an average of 28.5% from previous levels. The finding does not mean every shopper will spend that much more, or that all additional purchases were impulsive, but it illustrates how convenience can affect purchasing behavior.

What to do

Turning off one-click purchasing or removing saved payment information creates an extra opportunity to reconsider.

A discount is always a reason to buy. Coupons, bundles, and rewards can offer value on planned purchases. They can also encourage shoppers to buy more than they need.

Ask a simple question: Would I want this item if there were no sale? Compare unit prices, and consider whether the extra quantity will actually be used.

Consumers can also adopt a 24-hour waiting rule for nonessential purchases, unsubscribe from promotional messages and set a small allowance for spontaneous spending. These are practical ways to reduce exposure and create time to think.

The FTC recommends making a shopping list and budget, comparing prices, and tracking purchases.

Before checking out, ask what the purchase would displace: money for groceries, a bill payment, or a contribution to savings? That makes the cost more concrete than a sale tag does.

The sticker price isnt the only thing you have to consider

By Mark Huffman of ConsumerAffairs

• AAA estimates the average cost of owning and operating a new vehicle at $12,863 annually, or about $1,072 a month.

• Depreciation remains the biggest expense, while lower charging costs do not always make electric vehicles cheaper overall.

• Vehicle size and type can substantially affect ownership costs, making comparisons essential before buying.

The sticker price of a new car or truck has never been higher. But AAA suggests consumers should focus on another number as well the cost of owning it. And that number is also rising.

AAAs 2026 Your Driving Costs analysis puts average annual ownership and operating expenses at $12,863. The estimate includes depreciation, financing, insurance, fuel, maintenance, repairs, tires, taxes, and registration.

Last years estimate was $11,577, but AAA cautions that methodology changes prevent a direct year-over-year comparison. This year, the analysis incorporates selected electric and hybrid vehicles into categories previously limited to gasoline models.

The estimates cover five years and 75,000 miles of ownership. They represent average economic costs, including lost resale value, rather than simply the bills drivers pay each month.

Mounting costs

Depreciation averages $4,422 a year. Insurance adds $2,098, financing costs $1,184, and taxes and registration come out to $802. Fuel averages 17.3 cents per mile, with maintenance, repairs, and tires adding 11.7 cents. Actual expenses vary with location, driving habits, and other factors.

Fuel savings alone do not settle the choice between gasoline, electric, and hybrid vehicles. AAA found EV charging costs were approximately 66% to 70% lower than gasoline costs across the categories studied. However, higher depreciation, fees, and financing often outweighed those savings.

Gasoline-powered medium sedans, for example, cost $10,582 annual to own, $3,080 less than comparable electric models. Hybrids cost less than gasoline vehicles in all four comparison categories: medium sedans, compact SUVs, medium SUVs, and pickups.

Size matters

Vehicle size also matters. Small sedans averaged about 62 cents per mile, compared with $1.10 for half-ton pickups.

For buyers trying to control expenses, AAA recommends budgeting for total ownership costs, obtaining financing preapproval, and negotiating the vehicle price, interest rate, and trade-in value separately. Choosing a vehicle that meets actual transportation needs can also reduce long-term expenses.

Drivers are facing persistently high fuel costs, with a new annual record expected Wednesday

By Mark Huffman of ConsumerAffairs

• The national average price of regular gasoline has tied the record of 157 days above $4 a gallon in a single year, according to GasBuddys count.

• Prices are expected to break the record on October 14 if the national average remains above $4.

• AAA reports regular gasoline averages $4.34 a gallon, keeping fuel costs elevated even as prices ease.

American drivers have reached an unwelcome milestone. The national average price of regular gasoline is on the verge of a record number of days above $4 a gallon.

Tuesday, October 13, marks the 157th day above that threshold in 2026, matching the record set in 2022, according to a tally from Patrick De Haan, head of petroleum analysis at GasBuddy. If the average remains above $4 on Wednesday, the count will reach 158 days and establish a new record.

The milestone measures the total number of days above $4 during a calendar year. Those days do not have to be consecutive.

AAAs national average for regular gasoline stood at $4.34 a gallon Tuesday, compared with $3.08 a year earlier. Although prices have declined slightly over the past week, motorists are still paying approximately $1.26 more per gallon than last October.

For someone purchasing 50 gallons a month, that difference translates into roughly $63 in additional monthly fuel costs. A 15-gallon fill-up costs about $65 at todays national average, compared with approximately $46 a year ago.

The persistence of expensive gasoline is particularly unusual for the season. AAA said in its October 8 report that this is the first year the national average has exceeded $4 a gallon during October. The organization described pump prices as the highest ever for this time of year.

Still, the annual duration record should not be confused with the highest price ever recorded. AAAs national average reached $5.0165 a gallon on June 14, 2022 well above todays price. This years milestone reflects how often drivers have faced prices above $4.

Less pain in some areas

In spite of the painful milestone, DeHaan notes that prices at the pump have softened in some regions in recent days.

More states saw average gasoline prices decline than rise over the last week, with diesel falling approximately five cents per gallon nationally, DeHaan said in the GasBuddy blog.

For consumers trying to control expenses, the cumulative burden matters. Even small reductions at the pump provide limited relief when gasoline remains substantially more expensive than a year earlier.

Drivers can reduce their fuel bills by comparing nearby stations, combining errands, and avoiding unnecessary idling. When evaluating a stations discount, consumers should also check whether the advertised price requires cash payment, a membership, or enrollment in a rewards program.