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Last Updated: 10/4/2017

Interest Rate Bulletin

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​Sales recorded on contract for deed or sales recorded on warranty deeds that include an assumption of an existing mortgage or a seller-provided mortgage are adjusted to reflect market rate terms for use in the State Board of Equalization Sales Ratio Study, the Tax Court 12 and 9 month Sales Ratio Studies and the 21 Month Study.  The tables below provide interest rates that accurately reflect market interest rates.
 
The Data and Analysis team updates interest rate values as they become available. 
 

Market Rates for Cash Equivalency

Federal Home Loan Mortgage Corporation 3-month averages - Freddie Mac interest rates are used for all Seasonal Residential Recreational and Residential properties.

YEAR ​2009 ​2010 ​2011 ​2012 ​2013 ​2014 ​2015 ​2016 2017
January ​5.48 ​4.97 ​4.59 ​4.00 ​3.36 ​4.38 ​3.84 ​3.93 4.04
​February ​5.16 ​4.98 ​4.81 ​3.97 ​3.43 ​4.40 ​3.75 ​3.83 4.17
March ​5.06 ​5.00 ​4.85 ​3.97 ​3.50 ​4.36 ​3.72 ​3.74 ​​4.17
​April ​4.98 ​5.02 ​4.88 ​3.92 ​3.51 ​4.33 ​3.72 ​3.65 ​4.14
​May ​4.90 ​4.99 ​4.77 ​3.80 ​3.49 ​4.29 ​3.76 ​3.63 ​4.08
June ​6.09 ​4.91 ​4.66 ​3.80 ​3.66 ​4.23 ​3.83 ​3.59 ​3.99
​July ​5.17 ​4.73 ​4.57 ​3.66 ​3.97 ​4.16 ​3.96 ​3.54 ​3.96
August ​5.28 ​4.58 ​4.44 ​3.60 ​4.30 ​4.14 3.98 ​3.48 ​3.92
​September ​5.16 ​4.45 ​4.31 ​3.54 ​4.44 ​4.14 3.95 ​3.45 ​3.88
October ​5.07 ​4.34 ​4.15 ​3.50 ​4.38 ​4.10 3.86 ​3.46
​November ​4.96 ​4.30 ​4.06 ​3.40 ​4.31 ​4.07 3.88 ​3.57
​December ​4.92 ​4.41 ​4.01 ​3.35 ​4.30 ​3.97 3.90 ​3.81

 

Agricultural Sales Interest Rates

Interest rates for all agricultural sales are estimated using Agstar Financial Services, ACA published rates.

YEAR ​2009 ​2010 ​2011 ​2012 ​2013 ​2014 ​2015 ​2016 ​2017
January ​6.50 ​6.40 ​6.10 ​5.50 ​5.03 ​5.08 ​5.04 ​4.75 ​5.00
February ​6.50 ​6.40 ​6.10 ​5.50 ​5.03 ​5.08 ​5.04 ​4.75 ​5.00
March ​6.50 ​6.40 ​6.10 ​5.50 ​5.03 ​5.08 ​5.04 ​4.75 5.25​​
​April ​6.50 ​6.40 ​6.00 ​5.40 ​5.05 ​5.05 4.50 ​4.75 ​5.25
​May ​6.50 ​6.40 ​6.00 ​5.40 ​5.05 ​5.05 4.50 ​4.75 ​5.25
June ​6.50 ​6.40 ​6.00 ​5.40 ​5.05 ​5.05 4.50 ​4.75 ​5.50
​July ​6.50 6.30 ​5.90 ​5.30 ​5.15 ​5.11 4.50 ​4.75 ​5.50
​August ​6.50 6.30 ​5.90 ​5.30 ​5.15 ​5.11 4.50 ​4.75 ​5.50
September ​6.50 ​6.30 ​5.90 ​5.30 ​5.15 ​5.11 4.50 ​4.75 ​5.50
October ​6.50 ​6.10 ​5.70 ​5.10 ​5.10 ​5.11 4.50 ​4.75
​November ​6.50 6.10 ​5.70 ​5.10 ​5.10 ​5.11 4.50 ​4.75
​December ​6.50 ​6.10 ​5.70 ​5.10 ​5.10 ​5.11 4.50 ​5.00

Agricultural rates were taken from the Federal Reserve Bank of Minneapolis prior to April 2015.

 

Commercial Real Estate Interest Rates

Commercial interest rates are calculated using commercial financing rates published on realtyrates.com. Commercial rates are used for Commercial and Industrial properties.

YEAR ​2009 ​2010 ​2011 ​2012 ​2013 ​2014 ​2015 ​2016 ​2017
January ​6.76 ​6.43 ​5.19 ​4.69 ​3.97 ​4.70 ​4.03 ​4.8975 ​5.54
​February ​7.04 ​6.56 ​5.24 ​4.68 ​3.97 ​4.70 4.03 ​4.8975 ​5.54
March ​6.94 ​6.56 ​5.29 ​4.67 ​3.97 ​4.70 4.03 ​4.8975 ​5.54
​April ​6.94 ​6.56 ​5.32 ​4.66 ​3.88 ​4.70 4.03 ​4.8975 ​5.36
​May ​7.33 ​6.20 ​5.35 ​4.24 ​3.88 4.70 4.03 ​4.8975 ​5.36
June ​7.23 ​5.95 ​5.35 ​4.13 ​4.68 4.70 4.03 ​4.8975 ​5.36
​July ​7.11 ​5.70 ​5.35 ​4.02 ​4.70 4.70 ​4.03 ​4.9225 ​5.2775
​August ​6.98 ​5.45 ​4.75 ​3.90 ​4.70 ​4.70 ​4.03 ​4.9225 ​5.2775
​September ​6.75 ​5.00 ​4.97 ​3.79 ​4.70 ​4.08 ​4.03 ​4.9225 ​5.2775
​October ​6.68 ​4.91 ​4.74 ​3.68 ​4.70 ​4.08 ​4.03 ​4.81
​November ​6.43 ​5.08 ​4.74 ​3.57 ​4.70 4.08 ​4.03 ​4.81
​December ​6.43 ​5.13 ​4.70 ​3.97 ​4.70 4.03 4.03 ​4.81

Prior to 2016, the Department of Revenue used interest rates from the Grandbridge Real Estate Capital Closing Thoughts on Real Estate Finance newsletter and Crittendon interest rates for Commercial and Apartment Sales over $750,000.

* Monthly number are Department of Revenue estimates.

* Estimates are made when published interest rates are unavailable.

Questions?

Email: DataAnalysis.mdor@state.mn.us  
Phone: 651-556-3097