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Regional Data -continued <br /> Economic Trends <br /> Interest rates for a typical 30-year residential mortgage are around 4-5%. Commercial rates <br /> are around 5-7%. Rates are expected to be relatively stable over the next year. <br /> The current state of the macro economy (international, national, state, etc.) is fair since its <br /> peak in 2006, with ongoing signs of stabilization. "The Great Recession" is considered to <br /> be over. However, recovery timing is uncertain, and could span several years. Some <br /> property types experienced significant decline, particularly special use, recreational, high-end <br /> and outlying development properties. Currently, most property types are experiencing <br /> relatively stable values. Certain market segments/areas are experiencing growth, particularly <br /> the multi-family residential market. Although well diversified, the TCMA and surrounding <br /> Minnesota economy is not immune to the recent soft/declining trends of the overall economy. <br /> Minnesota Index and U.S. Index <br /> 1134.0 <br /> 175.0 <br /> e r 174.0 <br /> 165.0 <br /> 164.0 <br /> a 155.0 <br /> 164.0 <br /> 145.0 lrrlN <br /> 144.0 -U.S. <br /> 135.0 <br /> 134.0 <br /> c c Ii c tk c _ Z c iri <br /> 0 aF j aE j ar 'j 3 3 Z <br /> Source:Minnesota DEED <br /> Minnesota's index plunged along with the national index during the worst months of the <br /> recession but bottomed out earlier and dropped less than the national index. Minnesota's <br /> economy seems to be recovering at a similar rate as the national index. <br /> other South <br /> The regional economic climate is boominu 5.0 6.3 29.2 21.1 17.0 <br /> The regional economic climate is level 23.8 25.3 23.1 9.9 17.8 <br /> The regional economic climateis morle-ately positive 48.8 55.8 40.4 61.2 52.6 <br /> The regional economic cIiniintei5 51.ayimii1 14.0 3.2 1.9 0.7 1.v <br /> The regional economic climateis weak 12.5 9.5 13.5 7.2 11.1 <br /> Source:CCIM Institute.NATIONAL ASSOCIATION OF REALTORS' <br /> Nagell Appraisal&Consulting 1 952-544-8966 1 www.callnagell.com 9 <br />