Mortgage Interest Rates Fall Again and Again!

Mortgage interest rates have fallen over the past couple of months for home loans.  While 30 year fixed rates peaked around the mid-6%’s for Conventional and FHA loans, we have now seen them recede to the mid-5%’s.  Today, mortgage interest rates are at 5.50%.

What does that mean for you?

It means if you plan on having a $200,000 mortgage on a 30 year fixed, your payment would be approximately $130 a month less today then if you would have purchased a home two months ago.  That’s an annual savings of approximately $1,600.

The Federal Government recently took over “sponsorship” of the mortgage agencies, Fannie Mae and Freddie Mac, and this has been a large contributor to the recent drop in mortgage interest rates.

It’s a great time to get out there and start looking at buying a home!

Nick Sivertsen, Summit Mortgage nick@nicksivertsen.com

Related Posts

Ytd Market Stats   2026 05 15 Lead

Weekly real estate market update 5/15/26… new listings highest since 2021

🖨 Print Article New listings haven’t been this high since 2021, right after the COVID-19 pandemic. It’s such a relief for buyers to finally have options as the supply gradually...
Modern Frontier1

Enclave of wooded modern home building sites

🖨 Print Article As I was driving down Frontier Trail in Chanhassen the other day, I found myself captivated by the interesting terrain. It was unusually steep and densely forested...

Subscribe to Our Newsletter for Market Updates & Mid-Century Modern Listings

Our weekly HomesMSP Update includes current local market information and a curated list of mid-century modern properties for sale, plus posts from an inspector, a lender, a stager, info about neighborhoods, life in the Twin Cities… even recipes!

This field is hidden when viewing the form

Blog Categories

Archives

Sharon and John Hensrud

About Us

The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.