Post-Election Aftermath: Stock Market Boom, Bond Market Bust Overshadowed by all the political fallout the last week is the election’s effect on interest rates: up, quickly. According to Edina Mortgage’s Steve Mohabir, subsequent to the election, interest rates for a 30-year mortgage for well-qualified borrowers jumped a huge (“Yuge??“) 50 basis points, from 3.5% to over...Read More
Local Home Prices Go Back to the Future With the caveat that a city-wide price index blends neighborhood valleys and peaks into averages, what does the Case-Shiller index say about Minneapolis home prices since 2000? Home prices as of Summer, 2014 are about where they were in 2008. And 2003. Huh?!? Price Roller Coaster The...Read More
Interest Rates: 3 Steps Forward, One Step Back? If you haven’t been following, mortgage interest rates have just had a HUGE upward jump. From a low of 3.25% this Spring, 30-year mortgage rates touched as high as 4.625% earlier this week before re-tracing some of that move. What happens next? Conventional wisdom is that rates...Read More
