Your Daily Homeowner Newsletter For Monday, January 8th, 2024

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Monday, January 8th, 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 for you today:

• Current Interest Rates On A 30yr Home Mortgage (7.07%)

• Buyer/Seller Market Index (58)

• Homeowner Tip (Preventative Plumbing)

Mortgage Interest Rates Today

Today, Monday, January 8, 2024, the average interest rate for a 30-year fixed mortgage is 7.07%. This is a slight increase from last week. Also, for those looking to refinance their mortgage, the average rate for a 30-year fixed refinance is now 7.21%, which has also gone up a bit compared to last week.

Buyer’s Vs. Seller’s Market Index Score

Today's Buyer/Seller Index score is 58, with not much change in the market since Friday. This number means we're a bit more in a seller's market, but it's not too extreme. Why? Because there aren't many houses for sale right now, which is good for sellers. But, the interest rates (the cost of borrowing money for a house) are still high. That makes some people wait before they buy, which helps keep things from tipping too much towards sellers.

For those thinking about buying or selling a house, this means sellers have a bit of an upper hand, but it's not a big difference. It's important to know that while this score of 58 gives us a big picture of the whole country, things might be different where you live.

We'll keep watching how interest rates and the number of houses for sale change. This will help us give you the latest news on when might be a good time to buy or sell a house. We'll keep you updated every day

Daily Homeowner Tip

Take some time today to check for any leaky faucets or running toilets in your home. These small issues might seem minor, but they can actually lead to bigger plumbing problems if not taken care of. Plus, fixing them can save you money on your water bills. A dripping faucet or a toilet that keeps running can waste a lot of water over time. You can usually hear a running toilet or see a leaky faucet, so they're easy to spot. Fixing these can be simple DIY tasks, or you might want to call in a plumber if it's a bit more complicated. Either way, dealing with these issues now can help prevent more serious and costly problems down the line. It's a smart move for your home and your wallet!

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.