On average mortgage interest rates decreased slightly last week compared to the prior week. Rates are up from last year at this time, just below 7%. Still too high. Home prices are still rising but at less than 5% and rents in the Twin Cities have increased by less than 4% this year.
I am disappointed in the Federal Reserve. I had hoped they would be lowering rates by now. High housing costs and high interest rates are contributing to inflation.
