The average 30-year fixed mortgage rate fell to 6.06% the week ending January 15, 2026, the lowest level since September 2022, according to Freddie Mac. The Mortgage Bankers Association noted that lower rates have coincided with a rise in purchase and refinance applications, as borrowers respond to recent improvements in affordability.
In the Twin Cities region, for the week ending January 17:
- New Listings decreased 3.6% to 914
- Pending Sales decreased 15.1% to 512
- Inventory decreased 1.3% to 7
For the Month of December:
- Median Sales Price increased 2.7% to $380,000
- Days on Market increased 3.6% to 58
- Percent of Original List Price Received decreased 0.2% to 96.8%
- Months Supply of Homes For Sale decreased 5.0% to 1.9