August 2019

Michigan FHA Lender Explains New Limits for Cash Out Refinancing

By |2019-08-02T14:37:40+00:00August 2nd, 2019|Real Estate News|

Starting September 1st 2019, homeowners will be slightly more limited in how much equity they can access through a cash-out refinance from the Federal Housing Administration. The FHA published Mortgagee Letter (ML) 2019-11, “Maximum Loan-to-Value and Combined Loan-to-Value Percentages for Cash-out Refinance Mortgages,” announcing the [...]

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June 2019

Rochester, MI Mortgage Lender Explains: Interest Rates Rise But Still at One Year Low

By |2019-06-21T14:33:04+00:00June 21st, 2019|Real Estate News|

The average U.S. rate for a 30-year fixed mortgage rose from 3.82% to 3.84% this week according to the latest Freddie Mac Primary Mortgage Market Survey. Interest rates are still significantly lower than last year compared to 4.57% in June of 2018.  And in December [...]

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May 2019

Oakland County Mortgage Company Says Less Baby Boomers Are Downsizing Their Homes

By |2019-05-31T13:07:36+00:00May 31st, 2019|Real Estate News|

A recent study from Trulia indicates that more and more baby boomers are saying no to downsizing and staying in the home where they hold so many family memories. “We’re just not seeing that much downsizing,” says Alexandra Lee, a housing data analyst at Trulia, [...]

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April 2019

How Will Baby Boomers Affect the Housing Market? Oakland County Mortgage Lender Explains

By |2019-04-26T17:04:35+00:00April 26th, 2019|Real Estate News|

There has been a housing shortage for awhile now, leaving a less than ideal market for millennials and first time home buyers. But Fannie Mae predicts as baby boomers begin to downsize or move into senior care facilities, more housing will be available and prices [...]

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43% of Next-Home Buyers will Use Previous Mortgage Lender from First Home

By |2019-04-13T13:03:36+00:00April 12th, 2019|Real Estate News|

Most next-home buyers feel more confident with purchasing their second home than they did buying their first. Just like many other first experiences, they have learned from their mistakes as a first-time buyer. In a survey conducted in March for Mr Cooper, Researchscape International found [...]

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February 2019

Millennial Buyers’ Purchase Loans are on the Rise Despite Rising Rates and Tight Inventory

By |2019-03-24T20:30:26+00:00February 15th, 2019|Real Estate News|

Michigan Mortgage Lender Explains how Millennial Home Loans are Increasing Rising mortgage rates, the increase in home prices and tight inventory are not stopping millennials from pursuing their dream of homeownership. According to the Ellie Mae Millennial Tracker, 30 year Fixed Rate Mortgages are on [...]

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December 2018

What Can Michigan Homebuyers Expect in 2019?

By |2019-03-24T20:41:16+00:00December 21st, 2018|Real Estate News|

The 2018 housing market had it's ups and downs. We started the year with high home prices, low interest rates and low inventory. Then we saw a slight shift to favor buyers. And with so many experts warning of a housing bubble looming somewhere down [...]

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Oakland County Mortgage Lender Explains Credit Scores Among Millennials

By |2019-03-24T20:42:41+00:00December 14th, 2018|Real Estate News|

Did you know that the average credit score for Millennials is significantly lower than the "Silent Generation" – those born from 1925 to 1945? The typical Millennial has a fair credit score of just 634, according to a recent study from LendingTree, which examined 9 [...]

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Oakland County Lender Explains How Rising Mortgage Rates Aren’t Stopping Millennial Buyers

By |2019-03-24T20:43:52+00:00December 7th, 2018|Real Estate News|

Interest rates have been steadily increasing this year as we are almost approaching 5%. And most experts are expecting one more increase in 2018 and then 2 or 3 more increases in 2019.  But this is not deterring millennials from pursuing their dream of homeownership. [...]

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Conforming Loan Limits in Michigan and Most Of U.S. Will Increase in 2019

By |2019-03-24T20:44:26+00:00December 2nd, 2018|Real Estate News|

Fannie Mae and Freddie Mac are restricted by law to purchasing single-family mortgages with balances below a specific amount which is known as the conforming loan limit. The Housing and Economic Recovery Act (HERA) requires the The Federal Housing Finance Agency (FHFA) to adjust the [...]

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