Your Daily Homeowner Newsletter For Monday, January 15th, 2024

Monday, January 15th, 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 (6.93%)

• Buyer vs Seller Index (61)

• Homeowner Tip (Pest Prevention)

Mortgage Interest Rates Today

Today, Monday, January 15, 2024, the average interest rate for a 30-year fixed mortgage has dropped to 6.93%, which is a noticeable decrease from last week. Additionally, if you're considering refinancing your mortgage, the average rate for a 30-year fixed refinance is now at 7.10%, also showing a decline from the previous week. Keep in mind that these rates represent averages, and you may find more favorable terms if you have a strong credit profile.

Buyer’s Vs. Seller’s Market Index Score

We're starting the week with an update to our Real Estate Market Index, now at 61, a step higher than last week's 60. This increase is thanks to a notable drop in mortgage rates, which are now averaging 6.93% for a 30-year fixed loan. This is a significant decrease from where rates stood just last week.

So, what does this mean for the real estate market? Lower interest rates typically draw more people into considering buying a house. With more buyers on the lookout, the market starts leaning more towards sellers' favor. This is good news for those wanting to sell their homes, as they might find more interested buyers and potentially better offers.

For buyers, while the market is tilting slightly towards sellers, the lower rates make it a good time to consider making a move. You'll likely find more competition, but the more affordable rates can balance this out, especially if you're ready and able to act quickly.

Remember, our index score of 61 is a big-picture view of the national market. Local market conditions might vary, so it's always wise to check the trends in your area too. We'll keep a close eye on the changes in interest rates and the housing market, so you'll always have the latest information to guide your decisions. Keep tuning in for our daily updates!

Daily Homeowner Tip

With the cold weather, now is a great time to check your home for places where pests might get in. In winter, pests like mice and bugs are looking for warm places, and even small cracks in your walls, windows, or foundation can be an invitation for them. Sealing these spots keeps these unwanted guests out. You can use caulk for smaller cracks, and for larger gaps, foam sealant works well. This not only helps with pest control but also keeps your home warmer by stopping cold drafts, which can save you on heating costs. It's a win-win: your home stays cozy and pest-free. Remember, a little bit of maintenance can go a long way in preventing pest problems, especially during the colder months.

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.