Where are Mortgage Rates? Average U.S. rates for fixed mortgages are down slightly. Mortgage buyer Freddie Mac says the average for the 30-year loan declined to 4.39% last week from 4.41% the week before. The average for the 15-year loan eased to 3.44% from 3.45%. Mortgage rates have risen about a full percentage point since hitting record lows roughly a year ago. The increase was driven by speculation that the Federal Reserve would reduce its $85 billion a month in bond purchases. The Fed determined last month that the economy was strong enough to start trimming the purchases, which have kept long-term interest rates low. The rise in mortgage rates and higher home prices slowed sales of existing homes, which have fallen for three straight months. Overall, 2013 was the best year for housing in seven years. Most economists expect home sales and prices to keep rising this year, but at a slower pace.

HAR TREPAC Family Fun Run The event is a 5K Fun Run.  You can run, walk or stroll. There are several parking lots around the vicinity of the park as well as street parking. A parking map is now available online and will be sent out with a reminder e-mail just before the event. Bring your families including children and dogs.  Strollers will be allowed in the run and children under 5 are free. The event will continue rain or shine. No cancellations or refunds will be given. All registration fees will count toward the 2014 TREPAC investment of the individual who registers. If you have more questions, please contact HAR Director of TREPAC Karen Driscoll at karen@har.com or 713-629-1900 ext. 271.

Weekly HAR Market Stat Some say the big story of 2014 will be higher interest rates. Some say it will be more inventory. Still others say it will be less foreclosure activity. The truth is likely to be an amalgamation of all of the above. The year 2013 was marked by variable but steady job growth, a good leading indicator of market activity. While consumers may be uneasy about higher rates, economic improvements can potentially offset any negative impact on affordability. The seasoned agent will recall a time when plenty of consumers were vying for properties when rates were double and triple what they are now. In the Houston region, for the week ending January 19: • New Listings increased 2.2% to 2,063 • Pending Sales increased 31.2% to 1,658 • Closed Sales decreased 2.5% to 937

Think Green NAR Green Designation Questions? 713-629-1900 ext. 6 NAR's Green Designation is the only NAR conferred real estate designation designed for agents looking to learn about issues of energy efficiency and sustainability in the various facets of real estate. As consumer demand for knowledge of these issues increases, so will your awareness of green issues. * This designation requires the completion of three courses. Green 200 Date: Wed., Feb. 5 Time: 8:30 a.m. - 5 p.m. Location: HAR Central & Bay Area Investment: $109 Green 100 Date: Monday, Feb. 3 Time: 8 a.m. - 5 p.m. Location: HAR Central & Bay Area Investment: $109 Green 300 Date: Wed., Feb. 12 Time: 8:30 a.m. - 5 p.m. Location: HAR Central & Bay Area Investment: $109 Questions? 713-629-1900 ext. 6 Register at www.har.com/edu