Mortgage Rates Lowest in 39 years
Mortgage rates reported the end of last week averaged 4.69% as reported by Reported by Freddie Mac. Buyers looking to purchase in the near future certainly should be pleased at the record low rates and unmatched affordability in the Twin Cities housing market. Regardless of price range, if you are shopping for a home in Minnesota there are great buys regardless of price point. Some of the best deals we are seeing as a group are upper bracket homes. With supply in excess of 3 years on homes over $1M the selection is vast. First time home buyers will notice a much smaller selection in terms of months worth of supply. As the selling season progresses without the tax credit, these low mortgage rates should keep sales from plummeting as some are predicting with the end of the tax credit.