Calhoun Commercial Club Building

711 West Lake Street, Minneapolis, MN

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Mortgage Rates Show Little Movement

January 30, 2025 by Julie Green

January 30, 2024
The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%. Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.

Information provided by Freddie Mac.

Filed Under: Interest Rates

December Monthly Skinny Video

January 27, 2025 by Julie Green

Filed Under: Interest Rates

Mortgage Rates Drop Below Seven Percent

January 23, 2025 by Julie Green

January 23, 2024
After crossing the 7%-mark last week, the 30-year fixed-rate mortgage saw its first decline in six weeks. While affordability challenges remain, this is welcome news for potential homebuyers, as reflected in a corresponding uptick in purchase applications.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Surpass Seven Percent

January 16, 2025 by Julie Green

January 16, 2024
Mortgage rates ticked up for the fifth consecutive week and crossed seven percent for the first time since May of 2024. The underlying strength of the economy is contributing to this increase in rates. Despite rising rates, Freddie Mac research highlights that consumers can save money if they shop for several different lender quotes.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Continue to Trend Up

January 9, 2025 by Julie Green

January 9, 2024
In the first full week of the new year, the 30-year fixed-rate mortgage remained elevated at just under 7 percent. The continued strength of the economy has put upward pressure on mortgage rates, and along with high home prices, continues to impact housing affordability. The lack of entry-level supply also remains an issue, especially for those looking to become first-time homeowners.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Reach Highest Point Since July

January 2, 2025 by Julie Green

January 2, 2024
Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months. Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Continue to Rise

December 26, 2024 by Julie Green

December 26, 2024
Mortgage rates increased for the second straight week, rebounding after a decline from earlier this month. While a slight improvement in new and existing home sales is encouraging, the market remains plagued by an overwhelming undersupply of homes. A strong economy can help build momentum heading into the new year and potentially boost purchase activity.

Information provided by Freddie Mac.

Filed Under: Interest Rates

November Monthly Skinny Video

December 23, 2024 by Julie Green

Filed Under: Interest Rates

Heading into the Holidays, Mortgage Rates Increase

December 19, 2024 by Julie Green

December 19, 2024
This week, mortgage rates crept up to a similar average as this time in 2023. For the most part, mortgage rates have moved between 6 and 7 percent over the last 12 months. Homebuyers are slowly digesting these higher rates and are gradually willing to move forward with buying a home, resulting in additional purchase activity.

Information provided by Freddie Mac.

Filed Under: Interest Rates

Mortgage Rates Continue to Drop

December 12, 2024 by Julie Green

December 12, 2024
The 30-year fixed-rate mortgage decreased for the third consecutive week. The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds.

Information provided by Freddie Mac.

Filed Under: Interest Rates

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