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.