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Lakeville Real Estate

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Weekly Market Report

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For Week Ending October 24, 2026

The 30-year fixed-rate mortgage averaged 7.32% as of October 22, down from 7.40% a week earlier and up from 6.19% a year ago, according to Freddie Mac. The 15-year fixed-rate mortgage averaged 6.68%, down from 6.71% the prior week and up from 5.44% a year ago. Sam Khater, Freddie Mac’s Chief Economist, said the average 30-year fixed-rate mortgage declined this week, offering some relief to prospective homebuyers.

In the Twin Cities region, for the week ending October 24:

  • New Listings decreased 7.7% to 1,134
  • Pending Sales decreased 19.2% to 737
  • Inventory increased 13.2% to 12,616

For the month of September:

  • Median Sales Price increased 1.3% to $395,000
  • Days on Market increased 11.4% to 49
  • Percent of Original List Price Received decreased 0.7% to 97.7%
  • Months Supply of Homes For Sale increased 13.8% to 3.3

All comparisons are to 2025

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

Mortgage Rates Decline Further to 7.24%

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October 29, 2026

The average 30-year fixed-rate mortgage declined again this week, reaching its lowest level this month and modestly boosting purchasing power for prospective buyers.

  • The 30-year fixed-rate mortgage averaged 7.24% as of October 29, 2026, down from last week when it averaged 7.32%. A year ago at this time, the 30-year FRM averaged 6.17%.
  • The 15-year fixed-rate mortgage averaged 6.60%, down from last week when it averaged 6.68%. A year ago at this time, the 15-year FRM averaged 5.41%.

Information provided by Freddie Mac.