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2013 

Mortgage rates fell again last week and are again near record lows. According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago. The average rate for a 30-year fixed rate mortgage fell to 3.40 percen...
04/29/2013
The National Association of REALTORS® released its Existing Home Sales report for March on Monday. Sales dipped from February's seasonally adjusted annual rate of 4.95 million to 4.92 million existing homes sold in March, a decrease of 0.6 percent month-to-month. This reading was lower than Wall ...
04/24/2013
Mortgage rates fell for the third consecutive week. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week's 3.43 percent and 3.90 percent year-over-year. The average rate for a 15-year fixed rate mortgage was...
04/22/2013
An open house gives you a great opportunity to look more closely at Minneapolis/St Paul real estate you might be interested in buying. It also affords you the chance to chat with the owner or real estate agent so you can bring up any issues or hesitations you have with the home. Knowing what to a...
04/17/2013
The National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI) report for April shows that builder confidence slipped by two points to a rating of 42 from the March reading of 44. The Housing Market Index (HMI) measures home builder confidence in market conditions for new...
04/17/2013
Mortgage rates saw little change last week amidst mixed economic news. Treasury auctions held on Tuesday, Wednesday and Thursday saw weak demand; this could have been caused by the FOMC minutes that were released on Wednesday. The minutes indicated that some FOMC members supported ending the curr...
04/15/2013
The minutes for the Federal Open Market Committee (FOMC) meeting held March 19 and 20 were released on Wednesday April 10, 2013. These periodic meetings by the FOMC cover a wide ranging group of topics that impact the overall economy in the United States. The decisions made and acted upon from th...
04/12/2013
The Bureau of Labor Statistics (BLS) issued its Job Openings and Labor Turnover report for February on Tuesday, April 9th, 2013. The data was mixed with preliminary figures for all non-farm jobs increasing from 3.62 million jobs in January to 3.93 million jobs in February. This was the highest mo...
04/10/2013
When you make a real estate investment in Minneapolis/St Paul real estate, it's important to consider your options for turning a profit even before you write an offer. It might be best to rent out the property to cover your mortgage and build equity providing the home cash-flows with solid rents ...
04/09/2013
Last week's economic news includes several factors that drove U.S. mortgage rates lower. The Bank of Japan announced that it would increase its purchase of bonds by $1.4 trillion over the next two years. This news caused yields on Japanese bonds to fall, which made U.S. bonds more appealing to in...
04/08/2013
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Bob Elliot

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