May is historically one of the most active months of the year. Mortgage rates could stay under 6% for a 30 year loan, but short term, they might go up after the Federal Reserve raises rates again this month. This will be short lived as demand will hold the rates down. The economy will slip nationwide, but the Sioux Empire won’t feel much of it. Prices are working their way up again. All in all, it’s a healthy market for sellers, and good for buyers too, although the loan rate will dampen their enthusiasm for awhile.
