A perspective on the Minneapolis/St. Paul housing market
In the last two weeks we’ve seen interest rates on 30 year fixed mortgages move from 4.5% to 5.5% (or higher) that’s a big OUCH. This full interest rate point swing has meant that almost overnight, buyers lost well over 10% of their buying power. Another way to look at it is housing just got [...]
Over the last couple of weeks I’ve been seeing rates on 30-year fixed mortgages fall substantially… I’ve seen some recent quotes for 5.5%!
When you look at a straight affordability perspective, taking 1/2% off the interest rate (which is what has happened in the last few weeks) on a $200,000 loan saves you $1000 per year in [...]
This blog is written by Aaron Dickinson, a REALTOR with Edina Realty. Views expressed are the views of Aaron Dickinson and not of Edina Realty or any other organizations that Aaron is affiliated with.
Aaron Dickinson
Edina Realty
1-800-941-0959
Licensed in MN
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