Understanding Recent Rate Changes and Their Impact on Your Home

Afternoon Guys,

As you're likely aware, the Federal Reserve has made several adjustments to interest rates over the past few months. Here’s a quick update:

Federal Funds Rate Changes:

📉 September 2024: Reduced by 50 basis points to 4.75%–5.00%
📉 November 2024: Decreased by 25 basis points to 4.50%–4.75%
📉 December 2024: Lowered by 25 basis points to 4.25%–4.50%
⏳ January 2025: Held steady at 4.25%–4.50%

Despite these reductions, mortgage rates remain elevated, with the average 30-year fixed mortgage rate at 6.87% as of January 2025.

What This Means for You:

🏡 Thinking of Selling? Higher mortgage rates affect buyer affordability, which can impact demand for your home.
🔑 Looking to Buy? While rates have dropped, mortgage costs remain high, influencing your purchasing power.
📉 Renewing Your Mortgage? It’s crucial to review your options, as current rates may differ from your existing terms.

With so many shifts in the market, understanding your home’s current value and how these rate changes impact you is essential.

Get a Complimentary Home Valuation

I’m offering free home valuations this week to help you make informed decisions. Just reply "YES" to this email, and I’ll send you a detailed, personalized report for your property.

Looking forward to assisting you,

Warm regards,
Ricki Manahan
📞 (530) 681-8592
🌐 www.rickimanahan.com
📍 Serving Tahoe Truckee