Are You in the Home of Your Dreams?


The Federal Reserve cut the Fed Funds rate to near zero (.25%). This affects the interest rates banks use to borrow money to each other, which in turn lowers short-term and variable interest rates (think credit card and Home Equity Loan interest rates) and impacts interest rates on savings accounts, CDs, etc.

However, mortgage interest rates are not near zero, but they are still historically low. Lenders and banks are also trying to navigate this unique situation.

The volatility of the stocks and bonds will settle to move fixed rates back down from current levels. If you weren’t part of the initial wave of people who locked a low refinance rate in the last couple weeks don’t panic. You need to be patient and ready for when markets come back around. It’s going to be a gradual return to lower rates, not an immediate drop. 



We’ve kicked off a new year and Village Bank is here to help you reach your 2020 goals of buying your dream home. A new year (and a new decade) means new goals, and you might want to get an early start on those goals if they include buying a house.

Blog Mortgage couple sketches

The average rate on the common 30-year fixed mortgage remains low in the beginning weeks of 2020, according to Mortgage News Daily. Low rates lead to high buyer sentiment and buyers believing it is a good time to buy. A “good time to buy” attitude means Minnesotans are jumping on the already low supply of affordable homes, according to

If you want to get into the home of your dreams, these conditions say, “don’t miss out! Start looking sooner rather than later.” Open houses will be full of potential home buyers. The mortgage season typically heats up as the temperatures do in April. If rates remain low, spring will come early for the home-buying market—as early as January and February!

When you find the home of your dreams, our Villagers, Brett and Colette, want to help you make it a reality.

Click HERE to review the Village Bank Mortgage Process. We look forward to working with you!*

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*All applicants are subject to a credit check, debt to income verification and the property value must meet the bank's loan to value guidelines.
Member FDIC
Equal Housing Lender
NMLS Co. ID 786171
Brett Olivo NMLS #480195
Colette Dahlin NMLS #424744


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