The 10-year Treasury yield was relatively unchanged this week, while the 30-year mortgage rate fell 4 basis points to 4.1 percent. After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 low.
For Week Ending March 25, 2017
During the first quarter of 2017, housing affordability has clearly become an issue for some buyers, as prices continue to rise amidst strong demand. Even so, pending sales figures have generally remained positive across the nation. A better balance between high-price inventory and starter homes being sold would be the most beneficial situation for the marketplace.
In the Twin Cities region, for the week ending March 25:
For the month of February:
All comparisons are to 2016
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
The 30-year mortgage rate fell 9 basis points to 4.14 percent, another significant week-over-week decline.
For Week Ending March 18, 2017
The number of existing home sales was down last month, indicating that there is still a large divide between supply and demand. However, we need to keep in mind that the value of the housing market is the highest it has been in years. Confidence and household incomes are increasing, which are indicators of future home buying, which should lead to a continued strong market.
In the Twin Cities region, for the week ending March 18:
For the month of February:
All comparisons are to 2016
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
The 30-year mortgage rate moved with Treasury yields and dropped 7 basis points to 4.23 percent. This marks the greatest week-over-week decline for the 30-year mortgage rate in over two months, a stark contrast from last week’s jump following the FOMC announcement.
