Americans, including Michigan residents, are starting to feel better about the economy, and the improvements in the housing market are proof of that.  An October Gallup poll shows that for the first time in over 5 years, more people are beginning to feel comfortable about the economic shifts than a year ago. “This is not […]

It was another good week for mortgage rates. Concerns about the level of global economic growth and about the progress of reforms in Europe were favorable for mortgage rates, which ended the week lower. Nearly all of the major economic data released this week reflected slower economic growth. In the US, GDP, Durable Orders, and […]

Global central banks continued to add monetary stimulus this week, which was favorable for US bonds. The economic data was roughly neutral. As a result, mortgage rates ended the week a little lower. On Wednesday, the Bank of Japan (BOJ) announced that it will increase its level of monetary stimulus, following similar recent moves by […]

With few surprises from Europe or the economic data, by far the biggest story of the week was Thursday’s Fed announcement. The Fed’s decision was extremely favorable for mortgage rates, which improved after the news and ended the week lower. The Fed announced that it will implement a third round of quantitative easing (QE3) to […]

While last week was packed with highly anticipated central bank announcements and significant economic data, there was no major economic news this week. As a result, both mortgage rates and the stock market ended the week with little change. The pace of global economic growth is one primary influence for mortgage rates right now. Slower […]

The last 8 years have been a serious upset to the economy and housing market.  With all the changes we’ve seen in mortgage and finance, housing values, approval processes and mortgage programs there are still other changes to be made. Many of those adjustments are put into place for the sake of professionals like a […]

Recently the FHA announced a change in the costs associated with mortgage financing, citing a need to increase the cost for mortgage insurance to counter the steady decrease in housing values.  At the same time, the Obama administration is unveiling a new plan that will allow some borrowers with existing federally insured mortgages to refinance […]