Marc Edelstein

After reaching record lows near the end of July, mortgage rates have moved steadily higher this month, and the trend accelerated this week. While the US economic data was roughly neutral and there was little news out of Europe, mortgage rates continued to rise. Prior to July 26, two primary factors were responsible for the […]

We’re seeing record lows for interest rates on getting a mortgage in Michigan right now – hanging at around 3.5% – according to the Mortgage Bankers Association.  With those numbers, not only is it a great time for first-time buyers to purchase a home, it’s also a great time to refinance your home in Michigan. […]

While there was a full slate of economic data and Treasury auctions this week, investors were focused on a speech by Fed Chief Bernanke on Friday. The resulting increase in expectations for future Fed action was positive for mortgage rates, which ended the week a little lower. Bernanke did not commit to implementing any additional […]

With interest rates still hanging at record lows, homeowners around the nation have been looking into refinancing their mortgages.  Even here in the Metro-Detroit area people are saying goodbye to their “jumbo” loans and are now working with a Michigan mortgage lender to refinance into a more conventional loan. Sure that homeowner might have to […]

Getting approved for a mortgage in Michigan is an exciting time.  Equally exciting is being a first-time buyer.  There’s a lot of excitement, energy and emotion tied into that first purchase.  First-time buyers often go all in on a home and have a tendency to overpay just to get the home they fell in with. […]

When you’re buying your first home in the Metro-Detroit area, you don’t need to leave everything your Michigan mortgage lender and your Metro-Detroit real estate agent.  Truth be told, you shouldn’t anyway.  You should be doing your fair share of research and homework to ensure that you’re happy with the home you buy. Once you […]

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 […]

We’re continuing to see a slow and very steady recovery in the housing market, with a 2% climb in home buying through to the beginning of August.  It’s the current combination of low mortgage rates and much lower home prices – especially in the Detroit area – that’s fueling home sales. First-Time Buyers Are Driving […]

Mortgage and Stress – Loan Modifications for Michigan Home Owners When the Obama administration rolled out the Home Affordable Modification  Program (HAMP) in 2009, they estimated that up to 4 million people would try to seek relief from their existing mortgages using the program.  This is due mainly to the fact that officials believe we’re […]

As a mortgage banker in Wayne County, MI as well as Oakland and Washtenaw Counties I tend to work closely with a lot of real estate agents.  I keep tabs on the process for my clients as they get pre-approved for a mortgage in Michigan clear through to closing – it helps me know my […]