Monday, January 28, 2008

January 28, 2008

Interest Rates rose to 5.5% for a 30 year fixed on January 28, 2007. Rates had a roller coaster ride last week, one lender told us that rates changed 4 times in one day last week. The Fed dropped interest rates .75% at an emergency meeting last week. This has actually resulted in mortgage rates creeping up a bit.

It is going to take us a few more days to learn all of the capabilities of the new MLS system and to provide you with the most comprehensive data available. Current listing inventory - 212 active listings in Owatonna as of today, that number has remained stable for several weeks now. The number of pending listings climbed a bit to 17 houses. There were 15 properties Closed so far in 2008.

The 2007 year end market absorption chart is available and has quite a bit of interesting data.

Give us a call, 507-390-2121 or email us,

1 comment:

Anonymous said...

The old-style (01-15-08 and prior) active listing reports were much more informative and much more interesting than the report style you used on Feb 4. I'd like to request that you revert to the old-style active listing reports. Thanks.