Your Daily Homeowner Newsletter For Tuesday, January 2nd, 2024

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Tuesday, January 2nd, 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 (6.99%)

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

• Homeowner Tip (Winter Ceiling Fan Trick)

Mortgage Interest Rates Today

In today's mortgage rate update, those eyeing a 30-year fixed mortgage will find the average interest rate at 6.99%. This rate has experienced a slight dip compared to last week, offering a bit of relief for prospective homebuyers. Similarly, if you're considering refinancing your current mortgage, the average rate now sits at 7.13%, also showing a small decrease from last week's numbers. These recent changes indicate a favorable moment for both new buyers and those looking to refinance

Buyer’s Vs. Seller’s Market Index Score

Let's check in on the real estate market in the U.S. as we continue into the New Year. Our Buyer-Seller Index remains at 60 out of 100, showing stability in the market. What does this mean? Well, the market is currently leaning in favor of sellers. House prices are still on the rise, and there aren't as many homes available for buyers to choose from. However, there's a silver lining for those looking to buy a home. Mortgage rates have seen a slight decrease, which is good news. Plus, we're starting to see more homes listed for sale, giving buyers more options. Keep in mind, this 60 score is a broad snapshot of the national market. Your local market might have a different story. As we move deeper into 2024, we'll keep an eye on changes in interest rates and housing availability. This will help us get a better understanding of the trends in the housing market throughout the year."

Daily Homeowner Tip

Switch your ceiling fans to spin in the opposite direction. During winter, make sure they rotate clockwise. This simple trick helps a lot because it pushes the warm air that rises to the ceiling back down into the room. It's a great way to make your home feel warmer without turning up the heat. This not only makes your living space more comfortable but also can save you some money on your heating bill. Most ceiling fans have a small switch on them that changes the direction they spin. So, just flip that switch, and you're all set for a cozier and more budget-friendly winter!

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.