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New Day Sunday
Final Debate for Georgia Governor's Race, Abrams and Kemp Square Off; Interview with Politics Reporter, Atlanta Journal Constitution Shannon McCaffrey; 9 Days Until Election, Heavyweight Politicians Hit Campaign Trail; Mortgage Rates Top 7% for First Time in 20 Years; Interview with Senior Economist and Director of Forecasting, National Associate of Realtors Nadia Evangelou; Polls Open in Brazil's Presidential Runoff Election; Astros Even World Series After Game 2 Win; Super Saturday Face Off Set for Georgia and Tennessee; Portland Thorns Wins Third NWSL. Aired 7-8a ET
Aired October 30, 2022 - 07:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BORIS SANCHEZ, CNN ANCHOR: Buenos dias. Good morning and welcome to New Day. It is Sunday October 30th, Halloween eve. I'm Boris Sanchez.
AMARA WALKER, CNN ANCHOR: Halloween eve. That is correct. Hi, Boris. Good to be with you. I'm Amara Walker. Thank you so much for spending a part of your morning with us.
SANCHEZ: We started this morning with a tragedy in Asia. South Korea declaring a national period of mourning after a deadly crowd surge killed at least 153 people who were out celebrating Halloween in the capital of Seoul. We have to warn you, some of the images we're going to share are graphic. Authorities are still investigating exactly what caused this crowd crush.
WALKER: But emergency officials first began receiving reports of people buried in crowds on Saturday evening. There were thousands of people out that night in an area of the city with very narrow streets as you can say. They're packed in alleys and witnesses say people were trapped and panicked because they couldn't breathe. With dozens of people being administered, CPR on the sidewalks.
(BEGIN VIDEO CLIP)
NATHAN TAVERNITI, WITNESS: And I like turn around and I told the crowd, come this way. People are dying.
(END VIDEO CLIP)
WALKER: Now police say they have confirmed the identities of nearly all of those killed as families attempt to reunite with loved ones lost in the chaos. President Biden and the First Lady, by the way, have both offered their deepest condolences to the families of those impacted by this horrific tragedy.
SANCHEZ: Let's take you to Seoul now. And CNN's Will Ripley, who was on the scene shortly after this happened. Will, have officials gotten any closer to understanding exactly how all of this unfolded?
WILL RIPLEY, CNN SENIOR INTERNATIONAL CORRESPONDENT: It seems as if this may have simply been a case of so many people, so excited to be out for the first Halloween after COVID restrictions. So three years of restrictions and people were packing into this area. We're actually now behind the alleyway that we showed you just now on video. And you can see this is where a lot of people were receiving CPR, you saw lines of bodies down the street.
And what's really, really striking to me is you see that bag there with a shoe. And, you know, you see people's Halloween costumes. I remember seeing one of the bodies that was rolled by our live position yesterday and there was a sheet covering the stretcher, but you could see she had a beautiful glittery princess dress on for Halloween. And anybody who knew her would have known that that was her just by seeing the costume and, you know, you think about her. This young -- this one woman's parents, her family, her friends, and it's just really heartbreaking.
97 of those who were killed are women, 56 men, out of the 153 deaths. And they come from not just here in South Korea, the majority from South Korea, but really all over the world. I mean, the list have just updated here, Norway, Australia, Japan, Sri Lanka, Thailand, Iran. All of these people, many of them in their 20s, in their 30s, out here having a great time and they never came home.
RIPLEY (voice-over): Halloween horror and heartbreak. In Seoul's popular nightlife district, nightmare scenes. The narrow alleys of Itaewon lined with lifeless bodies, many in costume. Frantic first responders trying to save them.
(on-camera): This is a row of stretchers that we initially thought. We're waiting for potential survivors of this incident at a Halloween party where thousands of people were packed into a relatively tight area. But in fact, we've now realized that these stretchers are being used to bring back bodies and we've just seen body after body rolling past here.
Most of those hurt or killed in their late teens and 20s, the local fire chief says. Young people from South Korea and beyond. Witnesses say, Itaewon's iconic Halloween festivities always draw an international crowd. This video on Twitter shows an apparent lack of crowd control.
A sea of bodies pouring into a tiny area. An ominous warning telling people to be careful. Police and emergency crews rushed to the scene shortly after 10:00 p.m. local, Saturday night. Yonhap News Agency reported, emergency lines flooded with calls from people in the packed area saying they were stuck, suffocating. Some who fell down apparently crushed under a growing pile of people.
Official causes of death, not confirmed, but Yonhap reporting dozens suffered cardiac arrest.
SONG SEHYUN, WITNESS: And I saw the people's like going to the left side and I actually saw the person actually getting to the opposite side. So actually the person in the middle, they got jammed and they have like no way to communicate and they're like, you know, they cannot breathe.
RIPLEY (voice-over): The fire chief calls this a presumed stampede. The investigation is ongoing. Social media video shows emergency crews struggling, pulling injured and unconscious victims from the narrow alleyways, still jammed with hundreds if not thousands of people.
South Korea's President Yoon Suk-yeol, holding an emergency Cabinet meeting. The tragic incident now being treated as a national disaster. Authority say hospital beds and morgues filling up fast. President Yoon making rapid identification of victims a top priority.
Anxious families and friends desperately waiting for word, waiting for loved ones who left for a night of Halloween fun and haven't come home.
RIPLEY: As of about an hour ago, there were 4,100 missing persons cases filed. There are about 100,000 people out here last night. Tonight was actually supposed to be an even bigger night. This is one of the alley -- the alley actually right next door, just down the block from where this happened. This was supposed to be packed tonight. And you can see that it's completely shut down.
This space, maybe 6.5 feet across, guys. Can you imagine being stuck in the middle here, with literally thousands of people in this small area, packing and pushing you? It's hard to wrap your mind around how terrifying that must have been for those people who were essentially crushed to death or for those who slipped and fell and had people piling up on top of them.
Some people so desperate, you know, they were trying to climb up these walls here, just jumping and grabbing for anything they could to get up above the crowd of people. There's a lot of questions that need to be answered here in South Korea. Why were so many people allowed to pack into a narrow space like this? Where was the crowd control?
Some of the images that we've been showing you, they were from an hour or two hours before this deadly incident. Was there nobody shouting the alarm saying, hey, too many people, let's clear them out before something horrible happens. I mean, these are the really tough questions that they're having to ask here.
But tonight, as you see, it's all about well, most people who were here last night want nothing to do with this place now. It's empty, aside from a handful of reporters and the police blocking off the area. And of course, those shoes and the pieces of people's Halloween costumes just sitting in trash bags. I guarantee you, a lot of the pieces of costumes there come from people who didn't make it out alive yesterday. WALKER: Just heartbreaking details to think about, you know, these costumes and how recognizable some of the victims may have been, Will. And just to give it some context, I mean, that's an eerie silence that we're seeing and not hearing, right, because Itaewon as some of you may know, I've been there before, you know, it's a popular entertainment night district --
WALKER: -- place that, you know, a lot of foreigners like to frequent -- it's very popular with U.S. soldiers, a big expat community. And just a quick question, were the crowds -- I mean, I guess, such large crowds unexpected, was there a parade? What was exactly supposed to take place last night there?
RIPLEY: Well, there were a lot of different parties thrown in. I should point out, Amara, I mean, I've been to Seoul dozens of times for work covering North Korea or just, you know, covering South Korea over the years. It's been a few years since I've been here, and I can't count how many nights I have been along this exact same street with friends. I celebrated my birthday at that restaurant right there.
This is the place that you go if you want to have some drinks, have a meal. So this feels -- it feels very personal for anybody that has come to Seoul and come to Itaewon, which is a very, very popular iconic place especially on Halloween. Halloween is always one of their biggest nights.
I think people knew that this night was going to be huge. I mean, there were livestreams. People were saying this is going to be the most wild Halloween party in Asia, you know, because people were so excited to just come back out and not have to wear a mask on Halloween. For three years, they had to wear a mask on Halloween. And there were limits on crowd size.
That was not the case this year. And so, well, you know, in terms of why people died was the fact that alcohol was consumed, a factor in all of these cardiac arrest cases. Some doctors are saying that might be the case. It's still, you know, too early to, you know, to figure that out, because with such a high volume of bodies that still some of them unidentified, you know, still, you know, families waiting to be notified, it's just going to take time.
But in terms of why people were out here, it was just Halloween, it was Friday night and that was supposed to be an even bigger night. And just everybody kept coming, and they kept coming to this particular area. Was it a business? You know, that had -- one particular great drink special, I mean, we may -- we might not really know exactly what brought all those crowds and caused them to pack in here.
But you know, when you're young, and you want to go out and have fun with your friends, you want to go where the party is at, where the crowd is at. Tragically, way too many people came to the same place. And they kept packing in and people didn't realize how serious the situation was, even when the police officers, you know, looking like this, were trying to tell people, you got to get out of here.
People either couldn't hear them, or they thought that they were in costume. And they said, are you sure you're a real police officer?
RIPLEY: So, just -- obviously, people will be looking at this a lot differently moving forward after what has happened. Nobody ever imagined that something like this could happen here Itaewon on Halloween.
SANCHEZ: Yes. Will, we want to stay with you for a moment. Would you describe what it was like when you arrived there? Because you were -- we started getting alerts on social media and via email. And you got on the scene fairly quickly after we heard that this tragedy was unfolding. I'm wondering what that was like and what you saw, what you encountered.
RIPLEY: Sure. And I'm just going to walk you actually about where -- in this back area here. While we're talking, I'll walk you back down to the front, which is where we were last night because it's really -- it's quite close. So we -- well, we started getting emergency alerts on our phones, OK?
So one thing that they do here in South Korea is whenever there is some sort of emergency situation, you start getting these text messages. So I'm getting all these messages in Korean. And I called our producer install, a Seoul and I said, this seems like it's a really big deal. They're talking about a human casualty situation. And then I just did a search, quick search on Twitter and YouTube, and the videos that I was seeing showed all these bodies laid out on the ground.
So we knew we needed to get out here. Even though we didn't have anything verified, yet. There wasn't a whole lot being reported in the media just yet. When I got here, I saw people in their Halloween costumes in tears on the phone because they had finally gotten through to their loved ones who had been wondering if they were OK.
There were a lot of other people in costume, you know, frantically texting, trying to get a hold of friends that they couldn't reach, you know, friends who were missing. And as I mentioned, you've talked about more than 4,000 missing person's cases. There was so much confusion when you had 100,000 people out here, how many parents at home were watching the coverage and hadn't heard yet from their kids, you know.
Even if they did turn out to be OK, and maybe they just lost their phone or something or they were in a hospital. But just the fact that people had to worry so much. So you see the area down here with all the all the cameras. This is actually where the alleyway is, where the majority of people died. And you can see a lot of the press cameras.
This is also where the mobile command center has been set up. You know, they had 1,700 plus police, firefighters and investigators working out here. So, I think the hardest part for me, as I mentioned was when we saw this line of stretchers when we arrived. And I thought for sure those were stretchers to help treat the injured people. And then we realized that those stretchers were waiting for bodies and then we just started seeing them rolling the bodies out one by one.
And it was just, you know, seeing people's costumes and particularly that young woman with that beautiful dress, that beautiful princess dress and it was just with the -- the sparkles and the glitter and I just -- that's when I just really lost it for a second because I just thought about her parents and how beautiful she must have looked and how much fun she had been hoping to have and just how that how that night ended for her and how her family must be feeling. It's --
RIPLEY: -- there's really not any words to describe seeing something like that.
WALKER: Yes, you know, it's heartbreaking and it brings me back to 2014 when we covered the Sewol ferry disaster. I think that was probably the last largest deadly disaster that Seoul has seen on this level. has there been a command center or anything set up for families i i mean do
Has there been a command center or anything set up for families? I mean, do have all the victims' families been notified? I can't imagine that they all have yet.
RIPLEY: Yes, no. Not all -- not everybody knows yet, although they're getting closer and closer to notifying those who, you know, families of who were killed. The problem is, is that some of these victims, the ones under 17, that didn't have necessarily a government issued ID, they're the hardest ones to identify. And so, they basically had to put out an appeal for family members to come and identify bodies.
But you can see, you know, you've got police bands, you've got a couple of them here. There's a row of police vans that goes all the way down the block there beyond what I'm not even sure the camera can see. You've also got a mobile command center and you've got places where people can come and register. And there's also at various hospitals and other locations, places for families to go and try to find information about their loved ones if they're still missing right now.
WALKER: This is still unfolding. I'm shaking just listening to you and just, you know, you're human first right before you're a journalist and to have seen what you have seen is obviously going to stay with you for a long time.
Will Ripley, we really appreciate, you know, you walking and talking showing us and kind of setting the scene for us, and please keep us posted. Thank you very much, Will.
SANCHEZ: Thanks, Will. WALKER: Well new this morning, House Speaker Nancy Pelosi says she and her family are traumatized after her 82-year-old husband Paul was violently attacked with a hammer Friday inside their San Francisco home.
SANCHEZ: Sources have told CNN that the suspect who is facing multiple felonies for the attack was shouting, "Where is Nancy?" before he was trying to tie up Paul Pelosi.
Let's bring in CNN's Daniella Diaz, who joins us now live, Daniela, we are hearing from the House Speaker for the first time about this. What is she saying?
DANIELLA DIAZ, CNN CONGRESSIONAL REPORTER: She wrote in a letter to her House colleagues late last night, Boris. She said, "A violent man broke into our family home, demanded to confront me and brutally attacked my husband Paul. Our children, our grandchildren and I are heartbroken and traumatized by the life-threatening attack on our Pop. We are grateful for the quick response of law enforcement and emergency services and for the life-saving medical care he is receiving."
This is the first time we've heard from Pelosi directly since that attack in her home that left, of course, her husband Paul Pelosi, 82- year-old. Paul Pelosi in surgery. He is expected to make a full recovery but still very shocking that an intruder was able to enter their home in San Francisco and assaulted Paul Pelosi with a hammer.
He, of course, called 911, Paul Pelosi, and that is how he was able to receive care and it was an intentional attack that assailant asking for Nancy Pelosi during the attack, as you noted. That attacker being 42-year-old David Depop, he is expected to be charged on Monday with multiple felonies and are expected to be arraigned on Tuesday. So that is what we know right now. But it was appears to be an intentional attack on the Pelosi family.
And we have been hearing condemnation on both sides. Although we did hear President Biden say look, you know, you got to condemn this attack. But also you have you have to condemn that people who've been denying the election and fanning you know, this kind of rhetoric. But what are we hearing from House Minority Leader, Kevin McCarthy, who has been weighing in on this?
DIAZ: Amara, he broke his silence yesterday in an interview with Breitbart radio, where he said he reached out to House Speaker Nancy Pelosi on this incident and wishes them care. Take a listen to what he said.
(BEGIN VIDEO CLIP)
REP. KEVIN MCCARTHY (R), HOUSE MINORITY LEADER: Let me be very clear, violence or threats of violence has no place in our society. What happened to Paul Pelosi was wrong. I reached out to the Speaker. I called her, and she was on a plane coming back to California, but I was able to text her to tell her about our prayers for Paul. Thankfully, he's going to be OK. But thankfully, the attacker -- he's a deranged individual. -- but thankfully he was arrested.
(END VIDEO CLIP)
DIAZ: Amara, Boris, what's important to note here is that this attacker had posted memes and conspiracy theories about the COVID-19 vaccines, the 2020 election and the attack on January 6. But Republicans have been speaking out and denouncing this attack as you just heard from House Minority Leader Kevin McCarthy. Amara, Boris?
WALKER: Daniella, appreciate it. Thank you very much.
SANCHEZ: Still ahead, some political A-listers are hitting the campaign trail and the final push to the midterm elections coming up. The closing arguments both sides are making as voters get ready to head to the polls.
Plus, mortgage rates climbing yet again, hitting their highest level since 2002. What that means for homebuyers and in the future, as the Fed is started to raise interest rates once again?
WALKER: Political heavyweights are on the campaign trail this weekend with just nine days to go before the midterm elections. Barack Obama, President Joe Biden and Donald Trump are out fanning across the country in the final days of the campaigns.
SANCHEZ: Obama is on a five-state tour to rally support for Democrats. He campaigned in Georgia on Friday and in Wisconsin and Michigan yesterday, alongside Democratic incumbent Governor Gretchen Whitmer.
(BEGIN VIDEO CLIP)
BARACK OBAMA, FORMER PRESIDENT OF THE UNITED STATES: Leaders like Gretchen Whitmer are working to make sure cars are being built and high tech manufacturing is being done right here in Michigan instead of China. That's an actual plan.
(END VIDEO CLIP)
SANCHEZ: Florida's Governor, Ron DeSantis, also on the campaign trail this weekend. Despite being in his own race for re-election, DeSantis rallied support for Lee Zeldin, the congressman from Long Island and the race for New York governor.
(BEGIN VIDEO CLIP)
GOV. RON DESANTIS (R), FLORIDA: If you are tired of the same old, same old story, well, you have the power to turn the page. You have the power to elect Lee Zeldin as the next Governor of the state of New York. You will roll with some changes. And this will be the 21st century version of the shot heard round the world. Let's get it done. (END VIDEO CLIP)
SANCHEZ: Meantime, further south, the candidates for governor of Georgia are facing off tonight in their final debate of the race between Democrat Stacey Abrams and incumbent Republican Governor Brian Kemp. A rematch of their battle four years ago, Kemp narrowly, narrowly defeating Abrams by only about 55,000 votes.
WALKER: CNN's Nadia Romero reports Georgians are already voting in record numbers.
NADIA ROMERO, CNN NATIONAL CORRESPONDENT: Already more than 1.3 million Georgians have participated in person in the early voting process. And we are outside of one of the busiest polling locations here in Fulton County in Atlanta.
Take a look behind me, you can already see a line has formed here this afternoon. This is the last weekend of early voting in the state of Georgia. And when you really look at the numbers, the majority of people who are voting are people who are in their 30s, 40s, 50s, and 60s. We're not seeing as many people come out and the age group of 22 to 29. They only make up about 4 percent of the ballots that have been turned in so far here in the state of Georgia.
And so we spoke with one 19-year-old college student who has been working at this organization to get more people his age civically minded and engaged in the voting process. We asked him why it was so important to him and what his pitch is to people in his generation. Take a listen.
(BEGIN VIDEO CLIP)
AZOLA MARTIN, CIVIC INFLUENCER AT MOREHOUSE COLLEGE: Honestly, I say look at the history, look at how hard it was, you know, 60, 70 years ago for black people to vote and look at the opportunity that we have now. You know, our simple vote could -- that could change a whole election really, you know, looking back at the 2016 election and how those went. You know, just looking at the history and understanding the power and the privilege that we have, and that people died to fight for, you know, our voting rights.
(END VIDEO CLIP)
ROMERO: And we spoke with other young voters and they say they don't feel like the politicians that are out there right now are really speaking to issues that matter to them. Issues like student loans, will they be able to find a good job when they graduate? They also feel like that they're being told you need to vote. But those politicians leave their neighborhoods and don't come back and they don't feel like there's a real connection there.
Nadia Romero, CNN, Atlanta.
WALKER: Let's get some perspective now on the races in Georgia from Shannon McCaffrey, Politics Reporter for the Atlanta Journal- Constitution. Good morning to you, Shannon. Thanks for doing this. So yes, I mean, Georgia, right, fighting itself to be the center of the political universe once again. Talk to us about why though this high enthusiasm that we're seeing, especially with the record early voting turnout we're seeing.
SHANNON MCCAFFREY, POLITICS REPORTER, ATLANTA JOURNAL-CONSTITUTION: Yes, what else is new? Georgia's center of the political universe. Yes, I mean, there has been a ton of early voting, about 1.5 million people, including mail and absentee so far. I really think Georgia has switched. You know, the electorate here has heard so much about voting, so much about voter suppression, you know, and, you know, I think, really, we are switching to an electorate that does much of their voting early now.
There is this concern about wanting to get their vote counted. So a lot of folks are coming out in advance to make sure that happens, to make sure there aren't long lines and to make sure there aren't problems. So, you know, I think early voting is up about 45 percent from the last midterm election. So definitely, we're seeing a lot of enthusiasm, and a lot of concern with voters about getting their vote counted.
WALKER: Yes, yes. I'm definitely hearing that anecdotally too, when I went to go early vote a few days ago. Regarding the gubernatorial race, Kemp versus Abrams rematch, and we were mentioning, Boris, was that in 2018, I mean, Abrams had lost by only 55,000 votes. I would imagine the Abrams camp has kind of recalibrated and has a strategy because the poll show obviously Kemp in the lead. What is she going to do differently, especially when it comes to tonight's debate?
MCCAFFREY: Well, I think the last debate, it was a little bit diluted because you had a Libertarian candidate in there that was taking up a lot of the oxygen in the room. I think you're going to see Abrams continue to hammer away her message, her economic message that this, you know, economy isn't helping everyone, that there's a need for affordable housing, that Medicaid needs to be expanded.
I do think you will see a sharper exchange between her and Brian Kemp on those issues. But I also think she has been, you know, her closing message really is the economy. I think you'll also see probably more talk about abortion. There wasn't as much discussion of abortion in the last debate and I think probably she is going to hit that harder in this debate because that is such a clear difference between those two candidates.
WALKER: Yes, that was something that really animated many voters, especially, in the Democratic Party and, perhaps, independents, but that was in the summer. And, of course, the hope amongst Democrats is that that passion for abortion rights hasn't faded.
When we turn to the race for U.S. Senate, as you know, Herschel Walker has been fending off allegations that he paid women to have abortions. In fact, another woman, a second woman coming forward anonymously to allege that, you know, he drove her to an abortion clinic and paid for her to have an abortion back in 1993. Do voters care, or is this about each party making sure that they maintain the majority in the Senate no matter even if the GOP has touted itself as the party of family values?
MCCAFFREY: Well, I've spent a few days this last week on the road with Herschel Walker in rural parts of state, both in North Georgia and then again down in South Georgia. These are areas where they're die-hard pockets of Republican voters that he really needs to turn out in large numbers. This is the base. And they seem not to care at all. They are -- they really feel like any of these allegations that are coming out are either, you know, manipulated by Democrats or attacked by the media. And they are standing behind their guy and they are standing behind him strong.
Now, in the suburbs, in some of the more -- the areas that, you know, swing a little bit more, I think there is some concern. And I think that's why you are seeing that while the governor's race, Kemp, has a fairly sizable lead in polls, you know, Herschel Walker and Raphael Warnock are neck and neck. And so, I think that's where you see some of that difference.
You know, the question will become, can some of those Republicans in the suburbs and do some of those Republican voters hold their nose and decide that whole, you know, getting control of the Senate is more important than any of his personal flaws.
WALKER: Yes, Shannon McCaffrey, appreciate you. Thank you very much.
SANCHEZ: Mortgage rates are on the rise again, hitting the highest level we've seen since 2002. What that means, exactly, for people trying to buy a home as the Fed meets this is week to decide on yet another potential rate hike. New Day continues in just a moment.
SANCHEZ: U.S. mortgage rates just hit a 20-year high, and they could keep rising. This week, the Federal Reserve is expected to approve another round of rate hikes. Prompting new worries among borrowers who have seen rates more than double since the beginning of the year. Right now, a 30-year fixed rate mortgage averages about seven percent. That's up from just a year ago when it was a little over three percent.
Here with us to discuss and share her expertise, senior economist and director of forecasting at the National Association of Realtors, Nadia Evangelou. Nadia, we're grateful to have you this morning. Realistically, if you had to make a bet, how high do you think interest rates are going to get?
NADIA EVANGELOU, SENIOR ECONOMIST AND DIRECTOR OF FORECASTING, NATIONAL ASSOCIATION OF REALTORS: Good morning, Boris. Indeed, like, mortgage rates have already surpassed seven percent according to Freddie Mac. However, as we look to the remainder of the year, unfortunately, mortgage rates will continue to move up as long as inflation remains elevated. Even though inflation has a slight ease, we don't have, of course, the 9.1 percent that we have back in June. Inflation is still above, like, eight percent.
In the meantime, like, rent prices, which account for 40 percent of the consumer price index will continue to climb as people may need to rent for longer due to historically low affordability. And with the Federal Reserve raising interest rates repeatedly, home borrowing costs will keep increasing, squeezing further Americans that we may start a new year, like, with -- like, about eight percent mortgage rates and then later to the second half about 8.5 percent mortgage rates.
SANCHEZ: Wow. And still, you've said that now is a good time to buy as ever. Why?
EVANGELOU: Yes. We need to have in mind that the market and from the data is -- the market is less competitive. Like while, many buyers have been priced out of the market due to low affordability. There are fewer offers per home. So, this means that sellers may be more willing to negotiate. Furthermore, date shows that sellers are also more willing to reduce prices among recently sold, like, properties that were on the market for more than a month. Sellers had to drop prices by 12 percent on average.
And finally, due to the lengthening, like, days on the market. There are more homes available for sale since it's less competitive. Then we also have to have in mind that mortgage rates at seven percent may be the new normal. And actually, younger baby-boomers may remember the seven percent rate back in the mid to late 1990s and the early 2000s when they were in the 30s and 40s and they were buying homes. But, back then, inflation was about like two percent that current buyers also need to deal with elevated inflation.
SANCHEZ: Yes, the era of easy money is over, it seems. What's your advice to first-time home buyers? You mentioned people weighing their options, whether they should continue to rent or take on a mortgage payment. What would you say to those that are on the fence?
EVANGELOU: So, we may see like more renters to continue to be at the rental properties that they have. However, buyers should consider, like, reducing the price point for the search home if they don't want to go over their budget. Like in the meantime, data shows, as we say -- we -- I mentioned before that they're willing to reduce prices. And also, they should also think about broadening their home search to areas that are more affordable.
They may look like for a home to the next adjacent, like, county where, like, homes are still, like, more affordable and less expensive in that area. And also, they also have to do their research. They search about what mortgage product is right for them.
So, for first-time home buyers that usually spend about, like, five, seven years to their first home. A five-year arm adjustable rate mortgage may be a solution for them since, like, the rate there is lower than the 30-year fixed mortgage rate. So, if they plan to sell their home in the next, like, five to seven years, like a five or seven-year arm may be like another -- like, option for them just to avoid them higher mortgage rates for the 30-year fixed mortgage.
SANCHEZ: Right. Appreciate the advice. Nadia Evangelou, thanks for the free consultation.
EVANGELOU: Thank you.
WALKER: How do you know it's free. She may bill you for that.
SANCHEZ: Good point.
WALKER: Polls are now open in Brazil's hotly contested presidential runoff election, up next. How the results could shape the global economy and the fight against global change.
WALKER: Voters are heading to the polls in Brazil today in a presidential election dominated by three main issues, guns, God, and fake news. Again, we're talking about Brazil.
SANCHEZ: Eerily similar somehow.
SANCHEZ: Gun control is at the center of debate among these two candidates, alongside religion as both of them try to court Christian voters. All of it though, as Amara alluded, to supercharged by misinformation. Both campaigns spinning their own stories about their opponent.
Meantime, Hollywood actor and climate activist Leonardo DiCaprio getting involved. Calling the elections crucial for Brazil's democracy and the future of the Amazon Rain Forest.
WALKER: Our Paula Newton is in Sao Paulo for us.
Hi, Paula. Tell us more about the two candidates in contention. There's a lot at stake here.
PAULA NEWTON, CNN INTERNATIONAL CORRESPONDENT: Absolutely. Listen -- good morning, guys. This has been a contentious election, as you just pointed out. And arguably the two candidates have already left an indelible mark on Brazil's history. And yet so many people here consider this one of the most important elections of their lives. You're talking about Jair Bolsonaro. He is the incumbent here. Trying to be re-elected. He has been called many times the Trump of the tropics. He's taken a page from American conservatism. Boris, you were right, this is eerily familiar to the culture wars that are going on now in the United States.
And then you have Lula da Silva on the other side. A former president who really tried to bring Brazil economically and socially into this century. He has gone through immense scandals, he was imprisoned, he is now out of prison and here for re-election.
That's a little bit of a setup. But let me show you what's going on here. So, we're in front of a school, polls open just in the last hour. As you can see here, this has really gone on with great efficiency. There was a lineup in the morning, but now people are coming out fairly quickly. Important to point out here, that it is electronic balloting only. There is no paper backup here. That has been a controversy. The president already, Jair Bolsonaro, saying he looks that, like, he thinks that may be a problem. But at the same time saying he will accept the outcome.
Look, guys, this is going to be a tight race. The polls are not showing definitively. So, it won't be a long night. We have should have results in the evening, again, a lot on the line here in Brazil.
SANCHEZ: A contentious race in South America. Paula Newton in Sao Paulo for us. Thank you so much.
Up next, the world series all tied up at one game apiece after the Houston Astros bounce back to win game two against the Phillies. Coy Wire has the highlights in your bleacher report.
And don't forget, there's a new show debuting on CNN Tuesday morning. Join Don, Poppy, and Kaitlan every weekday morning on CNN "This Morning" starting Tuesday at 6:00 a.m.
SANCHEZ: The Houston Astros making our friend Andy Scholes lose his voice this weekend as they evened up the world series last night. A convincing win over the Philadelphia Phillies.
WALKER: But I think Coy Wire has his. And he is here with this morning's bleacher report.
COY WIRE, CNN SPORTS ANCHOR AND CORRESPONDENT: Hey, Andy was texting me last night. This guy is so geeked up. Good for him. He's Astros and there's fans, they were stunned after that game one loss, 5-0 to Philadelphia. They had the lead. But then end up losing.
Last night, they out for redemption and check this out. Very first inning, Houston has liftoff. It took four pitches from Zack Wheeler to hit back-to-back-to-back doubles. To start the game, first team in world series history to do that. They were up 3-0 after the first and then Alex Bregman in the fifth, put them up 5-0. This home run here, eventually Astros win 5-2, even in the series at a game apiece. The next three games are in Philadelphia, that starts tomorrow night.
Let's go to college football now where Georgia and Tennessee are now set for a showdown of the ages next week. UGA super sophomore tied end, Brock Bower, showing why he was a second team all American last season. Look at the focus. The Bulldog, Napa native, helped pour a tall grass of sour grapes for the Florida Gators, 73 are our touchdown. And the rivalry known as the world's largest outdoor cocktail party.
Top ranked Georgia wins 44 to 20. But third-ranked Tennessee is going to head to Athens with the high-powered offense that was on display against number 19, Kentucky. Heisman candidate quarterback Hendon Hooker with four more touchdowns last night. Balls roll 44 to 6. With the first college football rankings due out, Tuesday, we could have a number one versus number two showdown next Saturday.
To the national women's soccer league championship game. Kansas City facing the Portland Thorns and their all everything Sophia Smith. The 22-year-old less Stanford early and it's paying off, league MVP this season, now finals MVP, youngest goal scorer in finals history, and champion. The Thorns celebrating their third NWSL title with a 2-nil win over can KC.
Finally, DJ Oetting from Canada builds a special Halloween costume for his son, Easton, who is battling a rare genetic disorder every year. So, this year, what's the five-year-old- get? His very own Zamboni. He's a huge Edmonton Oilers fan, Boris and Amara.
So, this ice cleaner is all decked out in the perfect colors. The NHL social media team called it the costume of the year, and I cannot disagree. That's sweet stuff.
WALKER: So sweet. Love it.
SANCHEZ: That's adorable.
WALKER: Coy --
SANCHEZ: Coy Wire, always great to see you.
WIRE: You too. Thanks.
WALKER: Thank you. Good to see you.
And that is our time. Thank you so much for starting your morning with us.
SANCHEZ: And don't go anywhere, because "Inside Politics Sunday with Abby Phillip" is up next. Have a good weekend.