Your Daily Homeowner Newsletter For Friday, December 29th, 2023

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Friday, December 29th, 2023

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 for you today:

• Current Interest Rates On A 30yr Home Mortgage (6.95%)

• Buyer’s vs Seller’s Market Index (60)

• Homeowner Tip (Check Your Home Insurance)

Mortgage Interest Rates Today

Good news for those thinking about home loans: the average interest rate for a 30-year fixed mortgage has dropped a bit to 6.95% compared to last week. And if you're considering refinancing your existing loan, the average rate is now 7.09%, which is also slightly lower than it was a week ago."

Buyer’s Vs. Seller’s Market Index Score

As the year 2023 is wrapping up, our buyer/seller index score stays at 60/100, which means it's still a good time for people selling their homes. Usually, right after Christmas, the market starts getting busy, and that's good for sellers because it means there's more interest in buying homes. Prices are still going up, and there aren't too many houses out there to choose from. But there's also some good news for people looking to buy a house. The rates for home loans have dropped a little this week, and more houses are slowly coming onto the market. Keep in mind, this score is a general look at the whole country, so things might be different in your local area. As we head into the new year, we'll keep watching things like loan rates and the number of houses for sale, to help you understand the market better

Daily Homeowner Tip

As we're closing out the year, it's a smart idea to take a look at your home insurance policy. Why is this important? Well, think of your insurance as a safety net for your house. Over the year, you might have made some changes to your home or bought some new things that are valuable. Maybe you got a new TV, did some remodeling, or even added a security system.

Your insurance should cover all these new additions. If something unexpected happens, like a fire or a storm, you want to make sure that your insurance will help replace these new items or cover any recent improvements. So, take a little time to go over your policy. Check if the amount of coverage you have matches up with the value of your home and everything in it now.

If you're not sure what to look for, here are a few quick tips:

1. List New Items: Write down any big-ticket items you've bought this year.

2. Home Improvements: Think about any major work you've done on your house.

3. Check Coverage Limits: Make sure the policy limits are high enough to replace your belongings and repair your home if needed.

4. Ask Questions: If anything's confusing, don't hesitate to call your insurance agent. They're there to help!

Doing this checkup ensures that if anything goes wrong, you're fully protected. It's one of those small steps that can give you big peace of mind for the new year!

That’s all we have for you Today!

We are wishing you all a Happy & Healthy New Year!

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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.