Mortgage Interest Rates Decreasing
The average interest rate for a 30-year fixed-rate mortgage is finally beginning to edge lower, just in time for the spring home buying season. Applications for home financing rose 7% for the week of March 9th-15th, and were 4% higher than the same week one year ago.
"Mortgage rates declined for the sixth consecutive week, with the 30-year fixed rate dropping to 6.67%, the lowest level since October 2024," said Joel Kan, an economist with the Mortgage Bankers Association.
Those with concerns that rising inflation might bump up rates were relieved when last week's consumer price index (CPI) reflected lower-than-expected inflation rates.1
Why Home Sweet Home is Sweeter Than Ever
Since the end of the COVID-19 pandemic, many consumers are using their homes in new and different ways. These include living with multiple family members under one roof, expanding outdoor living spaces, and even growing some of their own food.
When you add in the ever-rising property prices, the result is a change in consumers' perceptions of home ownership that you may want to keep in mind during the months ahead.
According to Fannie Mae's latest National Housing Survey®, almost half of consumers interviewed said that their home has become more important to them over the past few years. Only 10% said their homes were less important. This shift in attitudes is driven by their appreciation for their homes' location and the sense of security it provides.
Over 50% of the respondents said that their home is also a place for exercise, hobbies, growing food, and gardening. While some remote workers have returned to the office, there are still plenty working from home. In addition, more homeowners feel more secure within their homes. While the financial benefits of home ownership are still considered the best reason to buy, the gap between equity and comfort has closed significantly during the past decade.2
A Cure for Boring Instagram Captions
Preparing a post for Instagram and other social media isn't that difficult after you prepare the first few...but the caption and introductory sentences can be where you run into writer's block. However, better captions and messaging will most certainly earn you more looks, likes and followers.
Using an AI chatbot like Gemini, ChatGPT or Claude can help you. Simply ask for several versions of the type of caption you need. For example, if you're celebrating your 10th year in business and want to thank your community, ask for some options of this message. Here are three examples provided by the Claude.ai chatbot:
- A decade of dreams fulfilled! Celebrating 10 years of helping our community find their perfect homes. Thank you to everyone who trusted us with their real estate journey—we wouldn't be here without you.
- From our first client to our most recent closing, we're celebrating 10 incredible years of serving this community. Your trust has built our business. Here's to many more years of helping you find where you belong!
- Home is where the heart is...and for 10 years, our hearts have been in helping you find yours.
Check Out LinkedIn's Video Newsletter
If you're wondering if it's worth expanding your LinkedIn presence, consider that video watching times at the site are up 36% from spring 2024. This is partially due to LinkedIn's adding a dedicated vertical video feed, updated analytics and improved video events.
Learning new techniques will be easier when you check out the site's new Create Video newsletter. As per LinkedIn:
"Every two weeks, we will dive into all things video creation and help you unlock its potential on LinkedIn. We'll share video best practices, inspiring examples, product updates and behind-the-scenes insights to help start or elevate your video creation journey on LinkedIn."
In the first addition of the newsletter, LinkedIn has provided some simple creation tips, such as the best video lengths and how to begin each one.4
Sing, Don't Text in the Shower
Even a model described as waterproof isn't always safe. Water can damage the phone if it gets into the charging port, and the high humidity inside a bathroom can collect inside as condensation.
In addition to leaving your phone outside the bathroom, you may want to check to make 100% sure it's insured. It's tempting to cancel insurance, especially if the phone is paid for, but coverage can save you a lot of money. (And if you're waiting for a call from me regarding a loan approval, don't worry. I'll call you back.)5
Sources: 1cnbc.com, 2fanniemae.com, 3buffer.com, 4socialmediatoday.com, 5propertycasualty360.com
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