Marc Edelstein

Buying a home is rarely a quick process.  Going through writing multiple offers, coming up against sellers who refuse to budge on price, the pre-approval process, drawn-out short sales and more can all be time consuming.  Once you finally secure that mortgage in Michigan, locate the perfect home and work through all the negotiations, you […]

It was a volatile week for mortgage rates, reacting to mixed economic data and unexpected comments from Fed Chief Bernanke. The various influences roughly offset each other, though, and mortgage rates ended the week essentially unchanged, even for a mortgage in Michigan. Testifying before Congress on Wednesday, Fed Chief Bernanke caused a swift move higher […]

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 […]

The Greek bailout package was passed on Monday as expected, and there was little reaction in US markets. Mixed US economic data also had little influence. Strong Treasury auctions were the biggest factor for mortgage rates this week, and rates ended the week a little lower. Investors are beginning to focus on the price of […]

Considering an FHA mortgage in Michigan in the near future?  The Federal Housing Administration is making changes that will have an impact on your new home purchase decision. The Federal Housing Administration (FHA) is attempting to improve its capital reserves by implementing a hike in up-front  insurance premiums that it charges to borrowers.  According to […]

If you want to get the best rates, you need to be prepared when you’re seeking pre-approval on a mortgage.  That means being a little more assertive than normal when it comes to speaking with a mortgage professional.  This helps you collect information about the mortgage process and evaluate the data  – before making one […]

Increased optimism that a Greek bailout package will be approved on Monday caused investors to shift to riskier assets, which was negative for mortgage rates. Mixed US growth and inflation data had little net impact. Mortgage rates ended the week a little higher. After several weeks of uncertainty, it appears that European officials are close […]

The Metro Detroit area offers some amazing options for home buyers.  From Royal Oak to the Suburbs of Detroit and westward into areas like Ann Arbor, a first time home buyer in Michigan is faced with a limitless variety in home designs. There’s certainly some style of home to fit your preferences – if you’re […]

Just about every individual interested in buying a home in Michigan or the Metro-Detroit area knows the pinch from our current economy.  Simply put, people in Michigan are still struggling and that scares a lot of folks away from taking the leap to get a mortgage and buy that first house. It’s important to remember […]

With little US economic news this week, investors focused most of their attention on Europe, where Greece is attempting to avoid a debt default. A lack of progress in Greece late in the week caused a minor flight to safety, and mortgage rates ended slightly lower than last week. For most of the week, it […]