Mortgage rate is 4.36

Looking for motivation to buy your dream house? The Minneapolis Star Tribune offers one good reason…

Mortgage buyer Freddie Mac said Thursday that the average rate for a
30-year fixed loan was 4.36 percent this week, down from 4.42 percent last week.
That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on 15-year fixed loan dropped to 3.86 percent from
3.90 percent the previous week. That’s the lowest on records starting in

While the intention may be to spur home sales – it turns out that the lower interest rate hasn’t been turning homes, but refinancing is at its highest rate since May 2009.

Submitted by Minnesia home buyer agent, Mary Rugani

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