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High interest rates freezing Minnesota's housing market, agent says
Original: Interest rates over 7.5% are freezing Minnesota’s open housing market, real estate agent says
A Minnesota real estate agent says interest rates above 7.5% are freezing the state's open housing market, keeping buyers sidelined and sellers locked into existing mortgages. The warning reflects a broader national squeeze, as elevated borrowing costs have sharply reduced transactions and left homeowners reluctant to list properties.
Why now: Mortgage rates above 7.5% are discouraging buyers and sellers alike, stalling local housing activity.
MinnesotaFederal ReserveUS housing market
Evidence
- Interest rates over 7.5% are freezing Minnesota’s open housing market, real estate agent says · CBS News
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