On Wednesday, the Federal Reserve committee voted for its second interest rate cut in a row. This quarter-point rate cut announcement is the second straight rate cut this year. The Fed reduced rates by the same quarter-point in September. Current Mortgage Rates Mortgage rates are now back to a 3-year low, averaging just 6.16% for […]
Is it a buyer’s or seller’s market in South Dakota? It is considered a balanced market right now in the summer of 2025. Housing inventory has been up since last year, which means supply is less constrained. In terms of mortgage rates, we have seen a decline for five consecutive weeks. According to Bankrate.com, mortgage […]
The Rapid City, South Dakota housing market is currently somewhat competitive but balanced. The recent median sale price of $370,000 is a 5.3% increase year-over-year, according to Redfin’s housing market trends. While the number of homes sold has increased by 14% during May, the market remains somewhat competitive due to the limited number of overall […]
As of April 2025, mortgage rates have experienced a notable decline compared to earlier in the year, offering potential advantages for prospective homebuyers. However, understanding the current rate environment and future forecasts is crucial in making informed decisions. Current Mortgage Rates In February 2025, the average 30-year fixed mortgage rate was 6.85%. By April, rates […]
Mortgage rates are falling slightly. Zillow reports that the national average 30-year fixed rate mortgage is at 6.60%, while the 15-year fixed rate is at 5.87%. But if you are holding out hope that mortgage rates will return to three percent, it’s not likely anytime soon. Mortgage rates have come down from the peak of […]
When it comes to investing, many people think of stocks, bonds, or mutual funds. However, for a large portion of the population, the most significant investment they’ll ever make is their home. In fact, studies show that real estate accounts for nearly 60% of the average American’s wealth. With home values historically trending upward, it’s […]
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