There are a lot of homes for sale in Metro-Detroit, and as many as half of the homes for sale of the Michigan real estate markets fall under the category of a distressed property. Distressed properties in Michigan are homes that have either gone through a foreclosure, or they are currently being marketed by the […]

A common question I run into from clients – especially first time buyers – has to do with their credit scores and mortgage preapproval.  The question is usually phrased in some way similar to “I’m getting ready to buy a home soon but I’m worried that if I get preapproved too early and don’t find […]

Increased concerns about the troubles in Europe had the biggest influence on mortgage rates this week. As usual, investors reacted by shifting to relatively safer assets including US mortgage-backed securities (MBS), and mortgage rates again ended the week a little lower. Spain has been the focus in Europe recently, but issues emerged this week from […]

Weaker than expected Employment data and increased concerns about Europe helped mortgage rates this week, and they ended lower than where they were before the March Employment report. While slower employment growth is painful for the country in nearly every way, this generally bad news is actually favorable for mortgage rates. Against a consensus forecast […]

If you’re trying to figure out if getting a mortgage in Michigan is a smart idea right now based on your income limitations and debt obligations, there’s some good news for you right now – the weight of the monthly mortgage bill has never been lighter.  That means buying one of the many houses for […]

As your preferred mortgage lender in Michigan, I know that buying a home in Oakland County, MI or Wayne county, MI is one of the most important decisions you'll make for yourself and your family. Buying a home and applying for your first mortgage in Michigan can be a daunting process, but as a senior [...]

For questions about the loan pre-approval process, refinancing or general questions about applying for a mortgage in Michigan you can contact me using the information below.   Marc Edelstein - Ross Mortgage Michigan Mortgage Broker Email: medelstein@rossmortgage.com Direct Office: (248) 658-2643 Direct Fax: (248) 658-2644 Cell: (248) 379-6749 NMLS #: 533706

There was a lot of daily volatility for mortgage rates this week. On Tuesday, the Fed Minutes revealed a lack of enthusiasm for further easing, and this caused mortgage rates to jump. Increased concerns about Europe then helped mortgage rates improve on Wednesday and Thursday. The net result was a small increase in rates for […]

Additional comments indicating that the Fed is in no rush to tighten policy and renewed concerns about Europe helped mortgage rates improve this week. Mixed economic data and Treasury auction results had little overall impact. After the March 13 Fed statement, mortgage rates swiftly moved higher, but they have since improved and are close to […]