Your Daily Homeowner Newsletter For Friday, January 12th, 2024

Friday, January 12th, 2024

Good day neighbor!

This is 'Welcome To My House' your neighborly newsletter. Each day, we bring you current updates on interest rates, insights into the current housing market for those thinking about making a move, and a homeowner tip or reminder, offering practical advice to enhance your home life and maintain your property's value. Think of us as your friendly next-door neighbor, always here with quick, useful info to help you navigate the world of homeownership.

Here’s what we have today:

• Current Interest Rates On A 30yr Home Mortgage (7.02%)

• Buyer vs Seller Index (60)

• Homeowner Tip (Home Security)

Mortgage Interest Rates Today

Today, Friday, January 12, 2024, the average interest rate for a 30-year fixed mortgage is at 7.02%, which is lower than last week. For those looking into refinancing, the average rate for a 30-year fixed refinance is now 7.15%, also showing a decrease from the previous week. It's important to remember that these rates are averages encompassing all mortgages. If you have a strong credit profile, you may be eligible for more favorable rates.

Buyer’s Vs. Seller’s Market Index Score

Today's update on the Real Estate Market Index brings more interesting news: we're moving our score up to 60, a step up from yesterday's 59. This change is due to another drop in average mortgage rates, now at 7.02%, down from 7.06% yesterday. For those with good credit, rates might even dip below 7%.

What does this mean? Lower interest rates often attract more buyers into the market. This increase in potential buyers can make it a bit easier for those looking to sell their homes, hence our index nudging towards a market that favors sellers slightly more.

For people thinking about buying a house, these lower rates are definitely encouraging. And for sellers, it's a good sign too, as more buyers could mean more interest in your property. But remember, this is a slight lean towards sellers - the market is still balanced enough for buyers to find good opportunities.

As always, this score of 60 is an overview of the national market. It's important to keep in mind that local markets can vary, so be sure to check out what's happening in your area. We'll continue to monitor how interest rates and home availability shift, to give you the most up-to-date advice for your real estate decisions. Don't forget to check back daily for the latest updates!

Daily Homeowner Tip

Today is a good day to take a look at how secure your home is. Check if your doors and windows have strong locks that are working well. It's important because good locks are one of the easiest and most effective ways to keep your home safe. Also, think about your current security system. If you don't have one, now might be a good time to consider getting a security system installed. If you already have one, check to make sure it's up to date and working properly. With technology changing fast, newer systems offer more features and better protection. Taking these steps can give you peace of mind, knowing that your home is safer against break-ins or other security risks. Remember, a little bit of prevention now can make a big difference in keeping your home and family safe.

That’s all we have for Today!

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Some links may be affiliate links that we earn a commission from if you purchase, this helps us keep the newsletter going.