July 2026 Mortgage Bulletin
Summer is in full swing, and the housing market across Minnesota and Iowa continues to offer opportunities for homebuyers. Inventory remains stronger than earlier in the year, and while interest rates continue to fluctuate, buyers who are prepared can still find excellent financing options. Whether you're purchasing your first home, upgrading to a new home, or considering a refinance, July is a great time to explore your options.
Market Update
- Summer inventory continues to provide buyers with more choices.
- Buyer activity remains strong throughout Minnesota and Iowa.
- Interest rates continue to fluctuate with market conditions.
- Seller concessions and closing cost assistance are still available on some properties.
Loan Program Highlights
Conventional Loans
- As little as 3%–5% down
- Competitive financing options
- Excellent choice for borrowers with strong credit
FHA Loans
- 3.5% down payment
- Flexible credit requirements
- Higher allowable seller-paid closing costs
USDA Rural Development Loans
- 0% down payment
- Available in many eligible rural communities throughout Minnesota and Iowa
- Income limits apply
VA Loans
- No down payment required for eligible veterans
- No monthly mortgage insurance
- Competitive interest rates
Rates & Opportunities
- Mortgage rates continue to move with economic conditions, creating opportunities for prepared buyers.
- Being pre-approved allows you to act quickly when the right home becomes available.
- A variety of loan programs remain available to fit different financial situations and homeownership goals.
Pro Tip
Before you start looking at homes, get pre-approved. Knowing your budget ahead of time can help simplify the buying process, strengthen your offer, and give you confidence when the right home comes along.
Let's Get Started
Whether you're buying your first home, purchasing your next home, refinancing, or simply have questions about today's market, we're here to help.
LaPorte Group Mortgage
Phone: 507-847-4466
Website: www.laportegroup.net
Apply online anytime or call with any questions.
No application fees. Local service you can trust.
We wish you and your family a safe, enjoyable, and happy Fourth of July!