The 10-year Treasury yield fell 3 basis points this week. The 30-year mortgage rate moved in tandem with Treasury yields, falling 5 basis points to 3.89 percent. Mixed economic data and increasing uncertainty are continuing to push rates to the lowest levels in nearly seven months.
For Week Ending May 27, 2017
The current situation for residential real estate is the ongoing situation for residential real estate. The market is active, and the trend lines are showing nothing out of a long-standing ordinary. There may not be as many homes for sale as one would like, and price increases are starting to make one look more closely at affordability, but real estate professionals are busy, and buyers and sellers are dancing in mutually beneficial transactional pairs.
In the Twin Cities region, for the week ending May 27:
For the month of April:
All comparisons are to 2016
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
In a short week following Memorial Day, the 10-year Treasury yield fell 4 basis points. The 30-year mortgage rate remained relatively flat, falling 1 basis point to 3.94 percent and once again hitting a new 2017 low.
For Week Ending May 20, 2017
Mortgage rates have fallen to their lowest levels so far this year but remain above where they were last year at this time. The market has proven to be ready for higher rates, as many homes continue to sell rapidly, often above the asking price. As long as there is ample supply, which is not a given in every market, 2017 should continue to be a great year for residential real estate.
In the Twin Cities region, for the week ending May 20:
For the month of April:
All comparisons are to 2016
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
The 30-year mortgage rate fell 7 basis points this week in a delayed reaction to last week’s sharp drop in Treasury yields. The survey rate stands at 3.95 percent today, a new low for the year.
