Ted Bergstrom

MN Real Estate Team



Mortgage Rates Drop

July 7, 2022
Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise. While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the combination of low housing affordability and an expected economic slowdown.

Information provided by Freddie Mac.