Fannie Mae’s new refinancing program, RefiNow, which offers qualifying homeowners with a Fannie Mae-owned mortgage new options for refinancing their loans, officially starts on June 5th. Borrowers at or below 80% of the area’s median income may qualify for this new program, which can lower interest rates and reduce monthly payments by $50 or more. Homeowners can learn more about qualifications and their options by contacting their lender or visiting KnowYourOptions.com.
In the Twin Cities region, for the week ending June 5:
- New Listings decreased 3.5% to 1,704
- Pending Sales decreased 21.3% to 1,185
- Inventory decreased 44.3% to 5,892
For the month of April:
- Median Sales Price increased 10.2% to $336,250
- Days on Market decreased 34.0% to 31
- Percent of Original List Price Received increased 3.4% to 103.3%
- Months Supply of Homes For Sale decreased 47.6% to 1.1
All comparisons are to 2020
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.