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Minnesota Real Estate Today News!
May 2011 - Posts
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Home affordability moved higher last quarter, buoyed by stable mortgage rates and falling home prices in Minnesota and nationwide. The National Association of Home Builders reports that Q1 2011 Home Opportunity Index reached an all-time high for the second Read More...
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The MLS data is in for April 2011. Check out addresses and home details in your neighborhood at Neighborhood Reports . Read More...
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Home values dropped for the sixth straight month in March 2011, according to the Federal Home Finance Agency's Home Price Index . The Home Price Index is a government-sponsored home value tracker. The HPI report is the latest in a string of "falling Read More...
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Sales of newly-built homes surprised Wall Street, jumping 7 percent to an seasonally-adjusted, annualized 323,000 units last month. In addition, the supply of new homes dropped to 6.5 months — a 2-month decrease from October 2010 and the best reading Read More...
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Mortgage rates across the state are near year-to-date lows, but locking them in this week may be difficult. As Memorial Day nears, and Wall Streeters get a head-start on the long weekends, trade volume in the mortgage bond markets will dip. When bond Read More...
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The Federal Reserve released its April 2011 Federal Open Market Committee meeting minutes Wednesday. In the hours since, mortgage markets have worsened; rates in Minnesota are higher by 1/8 percent this morning, at least. The "Fed Minutes" is Read More...
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The housing market recovery stalled last month. At least temporarily. According to the National Association of REALTORS®, Existing Home Sales slipped 1 percent in April from the month prior, falling to 5.05 million units on a seasonally-adjusted, Read More...
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Single-family housing starts dropped by 21,000 units in April on a seasonally-adjusted annual basis. The Housing Starts report measures the number of homes on which new construction "broke ground". It's tracked by the U.S. Department of Read More...
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Home builder confidence can't shake its range, according to the National Association of Home Builders. The group's monthly Housing Market Index put May's builder confidence reading at a level of 16. The Housing Market Index is scored on a Read More...
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With large swaths of the country bracing for an historic Mississippi River flood , it's important to remember that floods aren't just regional. Flood waters can strike any city, in any state, at any time. According to FloodSmart.gov, floods are Read More...
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Another day, another piece of evidence that the U.S. economy is expanding. Thursday, the Census Bureau released the April Retail Sales report. Excluding cars and auto parts, retail receipts rose for the 10th straight month and, at $321 billion, reached Read More...
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Foreclosure activity continues to drop nationwide. Based on data from foreclosure-tracking firm RealtyTrac , foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March. A "foreclosure filing" is defined Read More...
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When a mortgage applicants chooses an adjustable-rate mortgage over a fixed-rate one, he accepts a risk that -- at some point in the future -- the mortgage's interest rate will rise. Lately, though, that hasn't been the outcome. Since mid-2010, Read More...
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A recent joint report from Forbes and GreatSchools debunks a powerful myth in housing. There's little correlation between Public School Quality and the Median Price Point for a home. In other words, the most expensive districts don't always have Read More...
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In an echo of February's Case-Shiller Index report , the government's own home price-tracker -- the Home Price Index -- showed home values slipping between January and February 2011. The Federal Home Finance Agency data had home values down 1.6 Read More...
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Be prepared for Friday morning. Mortgage rates and home affordability could worsen quickly. At 8:30 AM ET, the Bureau of Labor Statistics releases its April Non-Farm Payrolls report and momentum has been strong. The monthly jobs report is a market-mover Read More...
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Check addresses in your neighborhood: See Your Neighborhood Monthly Comparables . Read More...
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Among the most challenging aspects of shopping for a mortgage is how rates change constantly. It's hard to pin them down. For example, in 2011, mortgage rates have expired every 3-and-a-half hours, on average. That's fast. There's two main Read More...
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