Tim Ontko, Realtor with Keller Williams Minneapolis Lakes

04/18/2026

05/06/2024

No doubt about it, mortgage rates are up. According to the St Lois Federal Reserve the lowest 30 year fixed mortgage rate seen since 2021 was 2.65%. Whoa that money was cheap then, wasn't it? In the week ending May 3rd, 2024 the rate is 7.22%

Still, even with this higher rate one could say that current mortgage holders are enjoying a good deal. The rate is still relatively low and inflation is higher. Historically it has been over 18%!

It is important to remember that mortgage debt is nominal so considering Inflation matters while considering mortgage rates is important. If inflation increases, all prices (and in particular wages), paying a nominal, fixed debt payment such as a mortgage becomes easier. You may have noticed.

One might then consider that even new mortgages are also a good deal when there’s inflation. The previous low-rate mortgages were not set during a time of higher inflation, and those who set the rates wouldn’t have anticipated the higher inflation to come. However, the new mortgage rates now include the anticipation of higher inflation, and thus this inflation advantage is factored into the mortgage rate.

When considering borrowing money to buy a home the one thing that is important is how much of a payment you can afford. Your personal mortgage and expenses: Principal, interest, tax and insurance, together with heat light and water are the expenses you'll pay on what will likely be your biggest asset. It's neither realistic nor expected that your first home will be your forever home. But every dollar you spend in rent is a dollar you will never see again. Now THAT'S expensive!

Over the long term, real estate increases in value and should always be part of as balanced financial plan and the best time to start is now.

If you are committed, and you realize that owning your own home will deliver to you financial benefits in the long term, give me a call and let’s get started. Tim Ontko, Realtor, 651-235-5422.

05/02/2024

There has been a price reduction posted to this Condo. Below is a link to the listing:

04/18/2024

Beautiful and holy place to visit

04/18/2024

Given the recent proposed settlement agreements and accompanying media hoopla, it is time for the voice of factuality to be

04/09/2024

Some history...

Reference - September 3rd, 1783 - Benjamin Franklin
The Paris Treaty signed between the United States of America and Britain and the creation of an American empire.

From the Mississippi to the Atlantic and from Canada to Florida, US territory is suddenly one third of a continent and bigger than Britian, France and Spain combined.

Articles of confederation
Constitutional convention in the summer of 1787
Washington elected to president
By September 17, 1787 Delegates gathered to vote on the constitution

It is "A Republic, if you can keep it."

By early 1790 the constitution had been ratified

April 17, 1790, died at 84 years old Franklin dies.

04/04/2024

Let's get crakin'

The National Association of Realtors® has released its 2024 Home Buyers and Sellers Generational Trends Report, showing millennials in the lead, surpassing baby boomers and accounting for 38% of all home buyers.

04/04/2024

Lots of good info here

Home is where you belong. The Minnesota Homeownership Center is here to help you stay in your home when times get tough.

04/03/2024

Here's February's 2024 Housing Report from Minneapolis Area Realtors. March will arrive on April 18th or so.

In addition to a better rate environment, those out home shopping were met with more choices and inventory than last year. There were 10,555 active listings statewide in February, 17.5% more than in February 2023. Even though listings are on the rise, demand continues to outweigh supply, as last mon...

03/27/2024

Burnsville Condo for Sale at Ridgeview

950 square feet,