332 2nd Street - Excelsior, MN 55331

Office #: (952) 474-0894

332 2nd Street - Excelsior, MN 55331

Office #: (952) 474-0894

Direct #: (612) 701-7404

Mortgage Rates Decline Further to 7.24%

October 29, 2026

The average 30-year fixed-rate mortgage declined again this week, reaching its lowest level this month and modestly boosting purchasing power for prospective buyers.

  • The 30-year fixed-rate mortgage averaged 7.24% as of October 29, 2026, down from last week when it averaged 7.32%. A year ago at this time, the 30-year FRM averaged 6.17%.
  • The 15-year fixed-rate mortgage averaged 6.60%, down from last week when it averaged 6.68%. A year ago at this time, the 15-year FRM averaged 5.41%.

Information provided by Freddie Mac.

Weekly Market Report

For Week Ending October 17, 2026

Housing inventory reached 1.60 million units in September, up 1.9% from August and 4.6% from a year earlier, a 4.8-month supply at the current sales pace, according to the National Association of Realtors®. The median existing-home sales price was $417,500, up 1.3% from $412,300 a year earlier, the 39th consecutive month of year-over-year price gains. With a median of 33 days on market, up from 31 in August, NAR Chief Economist Lawrence Yun said higher inventory and lengthening days on market give buyers improved negotiating power.

In the Twin Cities region, for the week ending October 17:

  • New Listings decreased 4.9% to 1,263
  • Pending Sales decreased 19.2% to 683
  • Inventory increased 12.7% to 12,600

For the month of September:

  • Median Sales Price increased 1.3% to $395,000
  • Days on Market increased 11.4% to 49
  • Percent of Original List Price Received decreased 0.7% to 97.7%
  • Months Supply of Homes For Sale increased 13.8% to 3.3

All comparisons are to 2025

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

Weekly Market Report

For Week Ending October 10, 2026

The 30-year fixed-rate mortgage averaged 7.40% as of October 8, up from 7.28% a week earlier and 6.30% a year ago, according to Freddie Mac. The 15-year fixed rate mortgage averaged 6.73%, up from 6.60% the prior week. The 30-year average has now risen for seven straight weeks.

In the Twin Cities region, for the week ending October 10:

  • New Listings decreased 1.5% to 1,353
  • Pending Sales decreased 12.8% to 735
  • Inventory increased 12.2% to 12,512

For the month of September:

  • Median Sales Price increased 1.3% to $395,000
  • Days on Market increased 11.4% to 49
  • Percent of Original List Price Received decreased 0.7% to 97.7%
  • Months Supply of Homes For Sale increased 13.8% to 3.3

All comparisons are to 2025

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

Mortgage Rates Decrease to 7.32%

October 22, 2026

The average 30-year fixed-rate mortgage declined this week, offering some relief to prospective homebuyers.

  • The 30-year fixed-rate mortgage averaged 7.32% as of October 22, 2026, down from last week when it averaged 7.40%. A year ago at this time, the 30-year FRM averaged 6.19%.
  • The 15-year fixed-rate mortgage averaged 6.68%, down from last week when it averaged 6.71%. A year ago at this time, the 15-year FRM averaged 5.44%.

Information provided by Freddie Mac.

Mortgage Rates Average 7.40%

October 15, 2026

The average 30-year fixed-rate mortgage remained unchanged this week.

  • The 30-year fixed-rate mortgage averaged 7.40% as of October 15, 2026, unchanged from last week. A year ago at this time, the 30-year FRM averaged 6.27%.
  • The 15-year fixed-rate mortgage averaged 6.71%, down from last week when it averaged 6.73%. A year ago at this time, the 15-year FRM averaged 5.52%.

Information provided by Freddie Mac.