Serving Minnesota Home
Buyers Since 2004


US rate on 30-year mortgage rises to 3.98 pct.

US rate on 30-Year mortgage rises to 3.98 pct.How will this affect Minnesota real estate and MN homes for sale?  As far as we can tell, home sales are still hot in the Twin Cities as inventory of nice homes for sale is moving fast.

Home in my Minnetonka neighborhood have been moving from sign-to-sold in 30- 60 days and many homes are selling at or above list price.

WASHINGTON (AP) — Fixed U.S. mortgage rates rose for the sixth straight week, putting the average rate on the 30-year loan just shy of 4 percent.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 3.98 percent. That’s up from 3.91 percent last week and the highest since April 2012. The average rate was last at 4 percent or higher in March 2012.

The rate on the 15-year loan advanced to 3.10 percent from 3.03 percent. That’s also the highest since April 2012.

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