Minnesota mortgage rates rose this week ending at 6.125% on Friday after having started the week at 5.75%. (rates for a 30 year fixed rate mortgage) You may also have noticed that the stock market rallied this week as well. In general, when the stock market goes up, 30 year fixed mortgage rates also seem to go up. This is a casual observation, not a rule, but after watching rates on a daily basis for the past 6 years, this relationship seems to hold up.
Minnesota first time home buyers can still get 100% financing with a combination of an FHA loan and a gift from a Down Payment Assistance organization.
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