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 […]

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 […]

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 […]