Monthly Market Update

Toy for Tots Happy Hour 12/9 – Let’s Fill the Toy Box!

Toys fo TotsWe will be holding a Toys for Tots event on Thursday December 9that our office located at 5151 Edina Industrial Blvd, Suite 500, Edina MN 55439. We will be here all day and will be watching the Vikings take on the Steelers that night. Stop by and see us and don’t forget to bring a toy!

Events around Town in December – Family and Adult variety

winter sceneWith the Holidays upon us, there are a lot of great events coming to town this month. A couple of the Family highlights include the return of the Hollidazzle @ Loring Park Dec 17-19 and the GLOW Holiday Festival @ the Minnesota State Fairgrounds that is running now until Jan 2, 2022 – More info for family events click here. For those looking for entertainment for adults only, the highlights include: 5th Annual 12 Bars of Christmas Crawl in Minneapolis Sat 12/11 click here for more info and Brews and Bulbs Holiday Tour in St. Paul on Fridays and Saturdays from now until 12/18 – more info click here.

Mortgage News and Notes

Dream TeamThe big news in the mortgage market has been the increase to$647,200 for conventional loan limits and $420,680 for FHA to for single family residences (Dallas/Ft. Worth MSA). It is even higher for multi-family properties. Another new program that has come out is our very own Supreme Dream program that offer down payment assistance and a grant of up to 3.5% of purchase price that does not need to be paid back if you stay in the home for five years. The rates remain to be near all-time lows and look primed to remain at these levels for the time being. We do expect rates to slowly push up with the Fed announcement of the tapering of MBS purchases and inflation concerns. The presence of Covid in the world and its effects on the global economy continue to have a downward push on mortgage rates which is balancing out the inflation concerns for now.*

*For informational purposes only. Based on the opinions of the author. Supreme Lending assumes no responsibility of accuracy of the information presented. Use at your own risk.