Rochester MN Real Estate Market Blog

It didn’t seem possible, but mortgage interest rates have been hitting record lows again in the past few weeks. Experts credit these lower interest rates, combined with the Home Affordable Refinance Program (HARP), with spurring on another wave of refinancing activity. Nationally, mortgage rates dropped to 3.59% this week (May 21, 2012) for a 30-year [...]

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Mortgage interest rates have remained steady at lows not seen in 40 years, with 30-year fixed rate average 3.87%. The 15-year fixed rate, while moving slightly higher last week, remained close to the record-breaking 3.14% set at the beginning of the month. These historically low rates present an amazing opportunity for home buyers and for [...]

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Last week was a tough one in the financial markets following the debt rating downgrades. Nevertheless, the resulting decline in mortgage rates could mean significant savings for home buyers. The interest rate on a 30-year mortgage fell to 4.32% last week, down from 4.39% a week earlier, according to Freddie Mac’s Primary Mortgage Market Survey. [...]

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Interest rates continue to hit lows not seen in 40 years.  With interest rates just above 4%, the savings over the course of a 30 year fixed mortgage are remarkable.  Combined with high levels of housing inventory for sale and a downward pressure on home prices, for the well-qualified home buyer, this can be a [...]

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During the last several months we’ve seen record low interest rates.  With interest rates remaining below 5%, the savings over the course of a 30 year fixed mortgage are remarkable.  Combined with high levels of housing inventory for sale and a downward pressure on home prices, for the well-qualified home buyer, this can be a [...]

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We currently at record low interest rates which is great for the current real estate market but how long can we expect to see them at these levels. Larry Baer with Market Alert has written a great commentary regarding this subject. Commentary By Larry Baer: Thank-you Mr. Bernanke – your plan is working like a charm [...]

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Last week, the stock market declined and mortgage rates fell, as investors worried about Fannie Mae and Freddie Mac and oil prices reached record highs. In a pivotal reversal, the opposite took place this week. With increased confidence in the financial sector and lower oil prices, the Dow gained over 400 points. As investors returned [...]

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As expected, the members of the Federal Open Market Committee voted to hold their key fed fund rate unchanged.  Today’s decision is the first time the Fed has held short-term interest rates steady since they embarked on a series of rate cuts that dates back to last September.             In their much anticipated post-meeting policy [...]

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The Federal Reserve has cut interest rates by one-quarter of a percentage point yesterday, in what many economists are predicting might be the last such cut by the Federal Reserve for a while. It is the seventh cut since late August, and it comes as the Fed is trying to balance between fears of impending recession and [...]

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We didn’t see the broad swings in interest rates this week as were experience in weeks past.  With little new economic news for the week rates settled in for a slightly lower average then last week. Ecnomic news was mixed for the week. The Fed is forecasting that with the recent rate cuts and the [...]

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