Mid-Month Real Estate Market Update by Krista Klause

🌟 Brought to you by Krista Klause, Your Trusted San Antonio Realtor 🌟

📉 Mortgage Rates Settling: Mortgage rates are finding their footing around the 6% range. This week, the 30-year fixed-rate loan averaged 6.66%, as per Freddie Mac. Good news for homebuyers!

📈 Rising Mortgage Applications: The Mortgage Bankers Association reports a 6% rise in mortgage applications for home purchases, signaling a positive shift in market activity. 🏠💼

🔮 Consumer Optimism on Rates: According to Fannie Mae's survey, Americans are hopeful about mortgage rates dropping further in 2024. Mark Palim of Fannie Mae suggests this optimism could ease home affordability pressures next year. 🌈📉

🏠 Impact on Home Buying & Selling: With rates around a full point lower than October, buyers are gaining confidence. This stability in rates means homes viewed are more likely to fit within budgets, notes Jessica Lautz from NAR. 💡💰

🏷️ What It Means for Buyers: A $400,000 home translates to a monthly payment of $2,056 with today's rate averages (20% down payment). 🏠💳

🌷 Spring Market Predictions: Expect more buyers in spring, potentially leading to bidding wars in a limited inventory environment. This could push home prices up in some areas, making the role of REALTORS® crucial in negotiations and home finding. 🌸🏠💬

📊 Freddie Mac's National Averages (Week Ending Jan. 11):

• 30-year fixed-rate mortgages averaged 6.66%, a slight rise from 6.62% last week. Last year, they averaged 6.33%. 📈

🔑 Bottom Line: Stay informed about market trends for informed decisions. If you're looking to buy or sell, or need more insights, Krista Klause is here to help!

📞 Reach out to Krista Klause for the latest market updates and personalized real estate advice! 📞