Fannie Mae’s new refinancing program, RefiNow™, which offers qualifying homeowners with a Fannie Mae-owned mortgage new options for refinancing their loans, officially starts on June 5th. Borrowers at or below 80% of the area’s median income may qualify for this new program, which can lower interest rates and reduce monthly payments by $50 or more. Homeowners can learn more about qualifications and their options by contacting their lender or visiting KnowYourOptions.com.
In the Twin Cities region, for the week ending June 5:
• New Listings decreased 3.5% to 1,704
• Pending Sales decreased 21.3% to 1,185
• Inventory decreased 44.3% to 5,892