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Lakeville Real Estate

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Mortgage Rates Hold Steady

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March 5, 2026

Mortgage rates held steady at 6% this week, hovering near their lowest level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners. As a result, refinance activity is up, and purchase applications are ahead of last year’s pace.

  • The 30-year fixed-rate mortgage averaged 6.00% as of March 5, 2026, slightly up from last week when it averaged 5.98%. A year ago at this time, the 30-year FRM averaged 6.63%.
  • The 15-year fixed-rate mortgage averaged 5.43%, slightly down from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 5.79%.

Information provided by Freddie Mac.

Filed Under: Uncategorized

Weekly Market Report

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For Week Ending February 21, 2026

Nationally, the number of active listings grew for the 27th consecutive month, rising 10% year-over-year in January, according to Realtor.com’s January 2026 Monthly Housing Market Trends Report. Despite the increase, total inventory remained 17.2% below pre-pandemic levels for the month. The typical home spent 78 days on the market, five days longer than the same period a year ago.

In the Twin Cities region, for the week ending February 21:

  • New Listings decreased 2.4% to 1,117
  • Pending Sales decreased 6.0% to 736
  • Inventory increased 3.4% to 7,866

For the month of January:

  • Median Sales Price increased 1.4% to $375,000
  • Days on Market decreased 3.0% to 64
  • Percent of Original List Price Received decreased 0.1% to 96.8%
  • Months Supply of Homes For Sale remained flat at 2.0

All comparisons are to 2025
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.