Twin Cities real estate market & Obama's refinancing plan - KMSP-TV

Twin Cities real estate market & Obama's refinancing plan

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From the consumer's perceptions of current inventory levels to sellers accepting a competitive listing market and buyers competing against multiple offers, the Spring Seasonal Trend Report gives you an inside look at the Twin Cities real estate market and seven current trends to be aware of.

The report also highlights new trends regarding relationships with banks, new construction and online marketing strategies. The Obama administration on Wednesday detailed its latest plan to help millions of homeowners refinance their mortgages to today's historically-low rates.

The plan, which requires approval by Congress, would allow borrowers who are current on their mortgage to save an average of $3,000 a year by refinancing into loans backed by the Federal Housing Administration, according to the U.S. Department of Housing and Urban Development. 

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