332 2nd Street - Excelsior, MN 55331

Office #: (952) 474-0894

332 2nd Street - Excelsior, MN 55331

Office #: (952) 474-0894

Direct #: (612) 701-7404

Archives for June 2026

Mortgage Rates Decrease to 6.48%

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June 4, 2026

The 30-year fixed-rate mortgage decreased to 6.48% this week. With mortgage rates in the mid-6% range and income growth outpacing home price growth, housing affordability is marginally improving.

  • The 30-year fixed-rate mortgage averaged 6.48% as of June 4, 2026, down from last week when it averaged 6.53%. A year ago at this time, the 30-year FRM averaged 6.85
  • The 15-year fixed-rate mortgage averaged 5.79%, down from last week when it averaged 5.87%. A year ago at this time, the 15-year FRM averaged 5.99%.

Information provided by Freddie Mac.

Weekly Market Report

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For Week Ending May 23, 2026

U.S. sales of new residential homes rose 7.4% month-over-month and 3.3% year-over-year to a seasonally adjusted annual rate of 682,000 in March, according to the U.S. Census Bureau. There were approximately 481,000 new homes for sale at the end of March, representing an 8.5-month supply at the current sales pace. The median new-home sales price was $387,400, down 6.2% from a year earlier.

In the Twin Cities region, for the week ending May 23:

  • New Listings increased 9.1% to 1,586
  • Pending Sales increased 7.2% to 1,257
  • Inventory increased 5.9% to 10,480

For the month of April:

  • Median Sales Price decreased 2.0% to $392,000
  • Days on Market increased 14.0% to 57
  • Percent of Original List Price Received decreased 0.4% to 99.3%
  • Months Supply of Homes For Sale increased 8.3% to 2.7

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mortgage Rates Average 6.53%

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May 28, 2026

The 30-year fixed-rate mortgage averaged 6.53% this week. Pending home sales have increased three months in a row, indicating there’s latent demand and homebuyers are ready to jump back into the market if mortgage rates decline.

  • The 30-year fixed-rate mortgage averaged 6.53% as of May 28, 2026, up from last week when it averaged 6.51%. A year ago at this time, the 30-year FRM averaged 6.89%.
  • The 15-year fixed-rate mortgage averaged 5.87%, up from last week when it averaged 5.85%. A year ago at this time, the 15-year FRM averaged 6.03%.

Information provided by Freddie Mac.

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