Thursday, October 23rd, 2014
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On Oct. 23, Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates hitting fresh lows for the year for the second consecutive week amid declining bond yields. At 3.92 percent the average 30-year fixed rate is at its lowest level since the week of June 6, 2013.

Posted in Interest Rates |
Monday, October 20th, 2014
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Posted in Listings and Pendings |
Monday, October 20th, 2014
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Posted in Inventory |
Monday, October 20th, 2014

As we turn toward the final and typically quietest quarter of the year, it is easy to wonder if we are destined to lose the stability that we have worked hard for throughout the U.S. However, gloomy considerations are readily put aside after considering a recent investigation by the International Monetary Fund into the real estate markets of other countries. It turns out that our national housing price-to- income ratio is fairly conservative. At this rate, we will soon stop talking about the process of housing recovery and just call it recovered.

In the Twin Cities region, for the week ending October 11:

  • New Listings decreased 6.6% to 1,423
  • Pending Sales increased 6.8% to 955
  • Inventory increased 7.5% to 18,178

For the month of September:

  • Median Sales Price increased 5.1% to $205,000
  • Days on Market remained flat at 71
  • Percent of Original List Price Received decreased 0.9% to 95.6%
  • Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |
Thursday, October 16th, 2014
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Freddie Mac’s October 16 release of the results of its Primary Mortgage Market Survey® (PMMS®) shows average fixed mortgage rates hitting new lows for the year. The average 30-year fixed rate is at its lowest level since the week of June 20, 2013, which was the last time the 30-year fixed averaged below 4 percent in the PMMS until this week.

Posted in Interest Rates |