Posts in category 'Twin Cities'

Housing 

Despite elevated demand for housing, construction of new homes fell in April, with the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reporting a 9.5% decrease in housing starts from the previous month. Rising building costs continue to hinder affordability and inventory for many homebuyers, although shortages in labor, issues with the U.S. supply chain, and lasting impact from late winter storms have also contributed to the decline in new construction activity, putting some projects on pause for the time being.  

Provided by the Minneapolis Area Association of Realtors.

Mortgage Rates

Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow. In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually. Substantial opportunity continues to exist today, as nearly $2 trillion in conforming mortgages have the ability to refinance and reduce their interest rate by at least half a percentage point.

~Provided by www.freddiemac.com 05-27-21

Want to enjoy a nice dinner out and also feel good about the food you're eating? Few things are as delicious as a fresh farm-to-table meal. Not only does eating farm-to-table cuisine have several health benefits, but it also helps support local farms and small businesses. 

With so many great farm-to-table restaurants in the Twin Cities, eating healthy doesn't have to be difficult. If you enjoy home-cooked meals with peak freshness, give some of these local restaurants a try:

• Holman's Table - 644 Bayfield St., St Paul, MN 55107
  How about a fresh farm-to-table meal served in an old air terminal? For a unique dining experience, Holman's Table is a must-try. With amazing entrees like Pork Porterhouse and Revier Farms Steak, you can enjoy fresh, sophisticated dishes accompanied by a large selection of wines. All food is locally-sourced, and the restaurant is conveniently located near some beautiful Saint Paul homes for sale.

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Housing Needs

A new analysis by housing giant Freddie Mac suggests that the U.S. housing market needs 3.8 million more single-family homes nationwide to meet demand. Sam Khater, Freddie Mac's chief economist, noted "we should have almost four million more housing units if we had kept up with demand the last few years." While new construction activity has increased in recent years, it has never fully recovered to its previous peak more than fifteen years ago.  

Provided by the Minneapolis Area Association of Realtors.

Mortgage Rates

In light of the rising COVID caseloads globally, U.S. Treasury yields stopped moving up a month ago and have remained within a narrow range as the market digests incoming economic data. The good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020. But, for eager buyers, especially first-time homebuyers, inventory continues to be extremely tight and competition for available homes to purchase remains high.

~Provided by www.freddiemac.com 04-29-21

Spring Market

As the spring market is in full swing and home prices are ticking up, mortgage rates have moved higher in recent weeks as well. Freddie Mac reports that the national average rate for a 30-year fixed-rate mortgage rose to 3.17% with an average of .6 points. While rates are still below the average of 3.5% for the same week last year, the year over year comparison has been tightening in recent weeks.

Mortgage Rates

During the course of the pandemic, 'home' has become more important than ever. As a result, strong purchase demand continues—but buyers also outnumber the sellers. Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. Unfortunately, this has disproportionately affected the low end of the market, where supply is the slimmest.

~Provided by www.freddiemac.com 03-25-21

What could be better than spending a beautiful spring day outdoors at your favorite golf course? Whether you're new to the game or have been anticipating your return to the golf course all winter long, this is the perfect year to embrace the game. National Golfer's Day takes place every year on April 10, and the great golf courses around the Twin Cities are gearing up for another exciting season. We have the details on six local courses where you can celebrate Golfer's Day, then enjoy some outdoor fun on the links all spring and summer long.

• Hiawatha Golf Club – 4553 Longfellow Ave., Minneapolis, MN 55407
  A long-time local favorite near Minneapolis homes for sale, the 18-hole course at Hiawatha Golf Club has been delighting golfers for nearly a century. The course is located next to the scenic Hiawatha Lake and is one of the longest public golf courses in Minneapolis. There are water features throughout the course, including 10 ponds, two holes bordering the lake, and a creek winding through the back nine.

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