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KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

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Inside KELOLAND: Housing Market

September 22, 2006, 9:12 PM by Karen Olson

Whether just checking out the new neighborhoods, or catching up on the latest home trends, thousands of people will likely tour this year's Parade of Homes. It's an event for those who are just looking and those hoping to find a new place to call home. 

More than 100 new homes will be on display in Sioux Falls, Brandon, Tea, Humboldt and Harrisburg. Nationally, new home construction was down 6 percent last month to the lowest level in three years. That's blamed on so many unsold homes being on the market. 

But mortgage interest rates are dropping just a bit, perhaps because of a slower home sales. Just this week, the average for 30-year fixed-rate mortgages is six-point-40 percent. That's down from six-point-43 percent last week.
And 15 year fixed mortgages average six-point-06 percent, down from last week's six-point-eleven percent.

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