August 28, 2025
Mortgage rates are at a 10-month low. Purchase demand continues to rise on the back of lower rates and solid economic growth. Though many potential homebuyers still face affordability challenges, consistently lower rates may provide them with the impetus to enter the market.
Information provided by Freddie Mac.
For Week Ending August 16, 2025
At present, 62% of Americans own a home, while 34% say they rent, according to a recent Gallup survey. Among non homeowners, 30% plan to purchase a home within the next five years, 23% plan to do so within the next ten years, and 45% have no plans to buy a home in the foreseeable future. Renters say the cost of homeownership, including a down payment, is the greatest barrier to purchasing a home.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 16:
FOR THE MONTH OF JULY:
All comparisons are to 2024
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
August 21, 2025
The 30-year fixed-rate mortgage remained flat this week. Over the summer, rates have come down and purchase applications are outpacing 2024, though a number of homebuyers continue waiting on the sideline for rates to further decrease.
Information provided by Freddie Mac.
For Week Ending August 9, 2025
The average monthly mortgage payment on a median-priced home reached a record high of $2,570 in 2024, based on a 30-year fixed-rate loan and a 3.5% down payment, according to the State of the Nation’s Housing 2025 report from Harvard University’s Joint Center for Housing Studies. Using a 31% debt-to-income ratio, a homebuyer would need to earn at least $126,700 per year to afford that monthly payment.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING AUGUST 9:
FOR THE MONTH OF JULY:
All comparisons are to 2024
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.
