Marc Edelstein

There were several significant influences on mortgage rates this week including the possible Fed announcement of further action to stimulate the economy, the European Central Bank (ECB) announcing its plans to help stabilize the euro-zone, and the July Jobs Report here in the US. In the end, the effect of these influences was offsetting and […]

Reduced concerns about Europe caused investors to shift to riskier assets such as stocks, hurting bonds. Weaker than expected US economic data and potential Fed action helped to limit the losses in bond markets, however. After several weeks of improvement, mortgage rates ended the week a little higher. Early in the week, a stream of […]

Mortgage rates have continued to plummet and plunge over the last weeks, once again breaking records and hitting all-time lows for those seeking to buy a home in Metro-Detroit. The average rate for 30-year fixed-rate mortgages fell again by .04% to hit 3.49%.  Alongside it, the 15-year fixed-rate fell to 2.80% – down from 2.83% […]

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 […]

Concerns about the pace of global economic growth dominated the financial news this week. While investors sold bonds in troubled European countries, demand was strong for US bonds, and mortgage rates ended the week at new record low levels. The economic data released this week reflected slowing economic growth in nearly every region of the […]

Bad news this week was good news for mortgage rates. A higher likelihood for further Fed easing and increased concerns about Spain helped mortgage rates improve to new record low levels. Based on weaker than expected economic data and comments from Fed officials, investors have increased their expectations for a third round of quantitative easing […]

People still seem to fall into the stigma that you have to put at least 20% down on a property in order to buy a home in Metro Detroit.  While putting a larger amount down up front can save you on the back end of your mortgage, it’s not necessary (and certainly not required) to […]

We’re not slated to see housing prices start to climb a lot anytime soon, but that doesn’t mean you should be lax if you want to secure a loan with a Metro-Detroit mortgage lender.  In fact, if you’re not careful about your timing, you might end up having to pay more than other people in […]

Concerns about economic growth were the primary influence on mortgage rates this week. With mostly weaker than expected data coming out during the week in the US and around the world, mortgage rates moved to new record low levels. Friday’s release of the monthly Employment report revealed a weak level of job growth, which was […]

Events in Europe were the primary influence on mortgage rates again this week. The Supreme Court’s ruling in favor of Obama’s health care plan had little impact on rates.Mixed US economic data and weak Treasury auction demand also caused little reaction. Mortgage rates ended the week a little lower.For most of the week, expectations for […]