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Mortgage Rates Level Off

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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.

Weekly Market Report

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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:

  • New Listings decreased 6.9% to 1,408
  • Pending Sales increased 8.5% to 1,005
  • Inventory increased 2.2% to 10,268

FOR THE MONTH OF JULY:

  • Median Sales Price increased 2.6% to $395,000
  • Days on Market increased 11.1% to 40
  • Percent of Original List Price Received decreased 0.2% to 99.3%
  • Months Supply of Homes For Sale remained flat at 2.7

All comparisons are to 2024

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.