Freddie Mac’s August 29 release of the results of its Primary Mortgage Market Survey® (PMMS®) shows average fixed mortgage rates moving lower from the previous week as the Federal Reserve’s bond purchase program continues to drive market speculation.
So far this summer, housing has achieved a soft, warm glow. If healing growth in the economy and labor markets persists, housing will be more than ready to weather tapering Fed activity – regardless of when it comes. Both local and national market indicators can’t yet contradict any confidence in rising home prices or dwindling inventory supplies. Let’s take a look into your locale to see how residential real estate is faring.
In the Twin Cities region, for the week ending August 17:
For the month of July:
Click here for the full Weekly Market Activity Report.From The Skinny.
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by David Arbit (Research Manager, Minneapolis Area Association of REALTORS® & 10K Research), video produced by Chelsie Lopez.
Freddie Mac’s August 22 release of the results of its Primary Mortgage Market Survey® (PMMS®) shows average fixed mortgage rates following bond yields higher, and reaching new highs for the year.
In the world of costs and benefits, no good deed goes unpunished and every rain cloud has a silver lining. The Commerce Department recently reported that consumer retail spending had risen the most in seven months. That bodes well for residential real estate – an industry sensitive to consumer confidence and spending levels.
But it could force the Federal Reserve’s hand in tapering stimulatory monetary policy sooner than later, something that could push interest rates off their current lows.
In the Twin Cities region, for the week ending August 10:
For the month of July:
Click here for the full Weekly Market Activity Report.From The Skinny.
