Mortgage interest rates went down a little last week. Apparently, there is less inflation, and employment numbers were revised. I find the whole job thing confusing as I know several people who are struggling to find the right job.
Here is a look at mortgage interest rates from Freddie Mac. They are below 7% but not by much. Lower rates cause mortgage applications to rise. The number of homes on the market in the Twin Cities is up slightly from last month. Home buyer demand remains very strong.
![Chart - average mortgage interest rates](/images/2024/07/July2024rates.jpg)