Dennis Holmquist

612-867-7636

Archives for May 2026

Mortgage Rates Average 6.37%

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May 7, 2026

The 30 year fixed rate mortgage averaged 6.37% this week. Recent data points to slightly better conditions for buyers with a boost in new-home sales, median new-home prices being down to their lowest level since July 2021, and higher inventory than in recent years. Together, these trends could modestly ease affordability pressures through the spring homebuying season.

  • The 30-year fixed-rate mortgage averaged 6.37% as of May 7, 2026, up from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.76%.
  • The 15-year fixed-rate mortgage averaged 5.72%, up from last week when it averaged 5.64%. A year ago at this time, the 15-year FRM averaged 5.89%.

Information provided by Freddie Mac.

Filed Under: Uncategorized

Weekly Market Report

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For Week Ending April 25, 2026

The 30-year fixed-rate mortgage continued its downward trend, with the average rate falling to 6.23% for the week ending April 23, 2026–the lowest level in the past three spring homebuying seasons, according to Freddie Mac. That’s down significantly from the same period one year earlier, when the 30-year FRM averaged 6.81%, easing borrowing costs for prospective homebuyers.

In the Twin Cities region, for the week ending April 25:

  • New Listings increased 3.6% to 1,689
  • Pending Sales increased 20.4% to 1,190
  • Inventory increased 8.5% to 9,493

For the month of March:

  • Median Sales Price remained flat at $380,000
  • Days on Market increased 6.8% to 63
  • Percent of Original List Price Received decreased 0.5% to 98.5%
  • Months Supply of Homes For Sale increased 9.1% to 2.4

All comparisons are to 2025

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

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