WOW, feels weird to be typing 2008. We are looking forward to some fabulous things for 2008. Well here we go with the first market update of the new year. Interest Rates have fallen today to 5.625% on January 2, 2007. This is what we expected to happen in January, it just happened a little earlier in the month than usual. Lenders typically reduce interest rates in January to stimulate business. These rate decreases usually last several weeks and then the rates pop up again.Current listing inventory - 208 active listings in Owatonna as of today, that number has remained stable since last week. We didn't make the goal we were hoping for of 200 or less listings by the end of 2007 but we have remained fairly soild where we are. Average days on the market has dropped slightly to 170 days. Th... 02/04/2008