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Mortgage rates drop to lowest level in more than a month as Iran deal progresses
By Chris Williams at FOX 9 KMSP (FOX)
· June 21, 2026
· 1 min read
Mortgage rates fell this week to their lowest level in more than a month, with Freddie Mac reporting the average rate on a 30-year fixed mortgage declined to 6.47% from 6.52% the previous week.
Key takeaway Mortgage rates fell this week to their lowest level in more than a month, with Freddie Mac reporting the average rate on a 30-year fixed mortgage declined to 6.
Why this matters in The Minneapolis
For homebuyers in Minneapolis , the drop in mortgage rates to 6.47% is a welcome development, particularly in a city known as the 'City of Homes.' This decrease could make it more affordable for individuals and families to purchase homes in the area, which is served by the Minneapolis Public Schools district. As the city has its own government and police department, local leaders may be keenly interested in how this shift in mortgage rates affects the local housing market and potentially influences population growth and development within the city limits. With the city being part of the larger Twin Cities metro, the impact of lower mortgage rates may also be felt in the broader regional economy, making it a trend worth watching for Minneapolis residents and policymakers alike. The potential for increased home sales and construction could have a ripple effect on local businesses and services.
About this story
Original reporting by FOX 9 KMSP (FOX) . The Minneapolis surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit FOX 9 KMSP (FOX) . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 21, 2026 ·
Source: FOX 9 KMSP (FOX) ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? Mortgage rates fell this week to their lowest level in more than a month, with Freddie Mac reporting the average rate on a 30-year fixed mortgage declined to 6.47% from 6.52% the previous week.
When was this published? This article was first published on June 21, 2026 by FOX 9 KMSP (FOX) and curated for The Minneapolis readers.
Who reported this story? This story was reported by Chris Williams at FOX 9 KMSP (FOX). To learn more about how The Minneapolis selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Minneapolis, or browse our daily briefing and topic hubs .
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