Monday Market Commentary

by Alex Stenback on May 2, 2005

Downtown_reflections 
‘Downtown Reflections’ by Visual Gratification

Last Week:  Rates Improved Slightly
A very mixed bag of economic data last week left the mortgage bond markets looking for direction.  For the week, prices improved ever-so-slightly, but not enough to change the offered rate (at a given cost) for most mortgage products.
This Week:  The Fed
The Federal Reserve Board meets Tuesday, and we’d be surprised if they did not add another .25% to key rates.  Also of note this week to rate watchers will be Manufacturer Sentiment (Monday,) Factory Orders (Tuesday,) and of course Friday’s Employment report.
·This Week’s Economic Calendar[Briefing.com]

After the Jump, Twin Cities Real Estate Market Snapshot [click below]

Twin Cities Area Real Estate Market
New listings have leveled off, with pending sales continuing their steady climb as the market works through the Spring inventory.  Average market time still checking in just north of 70 days.  All in all the market remains healthy.
· Read the Full Market Report, with Graphs [PDF]
*Source: Minneapolis Area Assoc. of Realtors.

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