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What the highest mortgage rates in 14 years are doing to Twin Cities real estate
Rising mortgage rates put a lid on home buying and selling last month in the Twin Cities. This week, mortgage rates topped 6% for the first time in 14 years. The 30-year fixed-rate mortgage averaged 6.02 %, according to Freddie Mac. That was up slightly from the previous week and more than double the rate offered a year ago. On Friday, a monthly sales report from the Minneapolis Area Realtors showed the housing market in the Twin Cities inching toward a more balanced market, albeit much more slowly than in some parts of the country. “We’re seeing a less competitive landscape as the market has slowed given current interest rates,”…
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3 home improvement projects with the highest payoff before and after COVID-19
Canva 3 home improvement projects with the highest payoff before and after COVID-19 Bright kitchen with white cabinets and wood countertops That kitchen remodeling you’ve been saving for? It may not add as much value to your home today as it would have three years ago. That’s because, generally, returns on investment in home improvement projects are lower now than pre-pandemic. But there are still several upgrades—including a kitchen remodel—that can help homeowners recoup a majority of their investment. Angi analyzed data from Zonda Media’s Remodeling 2022 Cost vs. Value Report to find the three projects that saw the highest percentage of their costs recouped. The analysis compares cost and…
