Minnesota
Mortgage Rates;
The prospects for the Minnesota housing market are looking good. Despite a brief slowdown, there are positive signs. Umemployment is low amd there is healthy population growth. The sellers market of the past few years is changing as this is a good time to enter the property market.
There is good reason to be cautiously optimistic about the future. There is improved affordability for new home buyers and as long as sellers remain realistic, their homes will sell. Mortgage applications have stabilized and are now at much more sustainable levels.
Minnesota has a strong economy, a good influx of residents and this has put Minnesota at the top of the home ownership league. Almost 76% of residents own their homes.
There is no reason to suggest that this trend in home ownership will ease.
Below are examples of rates being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.125% to 6.125%
15 Yr Fixed : rates from 4.625% to 5.875%
1 Yr ARM : rates from 0.5% to 6.75%
3/1 ARM : rates from 4.75% to 6.25%
5/1 ARM : rates from 3.25% to 6.25%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.625% to 6.625%
15 Yr Fixed Jumbo : rates from 5.125% to 6.5%
1 Yr ARM Jumbo : rates from 0.5% to 5.5%
3/1 ARM Jumbo : rates from 5.375% to 6.625%
5/1 ARM Jumbo : rate from 3.25% to 6.375%
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Looking for a mortgage in one of Minnesota's major cities? Click any of the cities below for more mortgage information.
Major Minnesota
Cities;
Minneapolis
Rochester
St. Paul
Worthington
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