Marc Edelstein

If people were questioning whether we’re in a buyer’s market now or not, it’s a pretty sure thing now.  With all the changes that have come from above regarding mortgages, short sales and financing, we’re seeing a big change in the numbers of buyers coming forward. During the 3rd week of June, the demand for […]

According to recent Freddie Mac rate reports, we’re seeing standard 30-year fixed-rate mortgages reaching new lows again.  As of the 22nd rates dropped to 3.66 percent due to some weak economic reports.  Those numbers  are currently holding this week. An additional record low was hit for 5 year adjustable rate mortgages which dropped to an […]

Despite historic Greek elections and a highly anticipated Fed meeting, it was a surprisingly quiet week for mortgage rates, since neither event shed much light on investors’ primary questions. As a result, mortgage rates ended the week with very little change. Investors hoped that the two big events this week would remove some of the […]

People who currently rent homes and apartments in Michigan are willing to make a lot of sacrifices and slash their budgets to get that dream home and finally own property, according to a home-buying survey from Century 21. Of the renters that were surveyed (non-homeowners), over 80% indicated a strong desire to buy a home […]

Investors were focused on events in Europe this week, ahead of Sunday’s Greek elections. The US economic data released during the week was generally weaker than expected. Anticipation of action by global central banks helped mortgage rates end the week a little lower. The highly anticipated elections in Greece will take place on Sunday, and […]

Before you take the first step to buying a home – talking with a Michigan mortgage lender – you have to look at your personal finances.  It’s important to understand your income to debt ratio.  How much you earn versus how much you owe is a major deciding factor in how much a mortgage lender […]

Following a large improvement in mortgage rates and a large decline in stocks last week, investors partially reversed direction this week. The European Central Bank (ECB) and the Fed were the main focus, providing a degree of comfort, and investors were a little more willing to take on risky assets. This was negative for bonds, […]

One of the hardest parts of buying a home in Metro-Detroit is over once you speak with a Michigan mortgage lender and secure your mortgage.  It’s all downhill from there, you just need to find the right home for your family and your budget. The next step starts with finding the right agent to work […]

Weaker than expected US economic data and continuing concerns about Europe were positive for mortgage rates, which declined to record low levels this week. Nearly all of the economic data released this week, including GDP, ISM Manufacturing, Consumer Confidence, and Pending Home Sales, fell short of expectations. Most significantly, for the third consecutive month, the […]

The economy has been rough on Michigan residents, and it’s led to a multitude of foreclosures, record-high unemployment rates and bankruptcy’s after families try to recover.  There is no doubt that filing for a bankruptcy can be extremely difficult to recover from, and it has a devastating impact on your ability to get credit in […]