Clik here to view.
Mortgage Rates Move Upward
Click the graph to enlarge We all saw it coming. After last week’s Primary Mortgage Market Survey showed us the unmistakable image of a wolf, the prophecy has showed itself. The wolf was howling upward...
View ArticleClik here to view.
Mortgage Rates Slow Their Roll
Click the graph to enlarge. Like the last audible sounds of a howling wolf, mortgage rates have leveled out to a nice place this week according to Freddie Mac’s Primary Mortgage Market Survey. After...
View ArticleClik here to view.
Rates Fall After Fed Announcement
Click the graph to enlarge. And just like that, the Fed has spoken. The Primary Mortgage Market Survey is always aflutter when Ben Bernanke and his merry gang of economists go to work, and yesterday...
View ArticleClik here to view.
Mortgage Rates Fall to Lowest Point Since June
Click the graph to enlarge. It’s been a long time since rates have been this low. In fact, the last time 30-year fixed-rate mortgages were this low, the MLB season wasn’t even halfway over. The Boston...
View ArticleClik here to view.
Mortgage Rates Mostly Unchanged for the Week
Click the graph to enlarge. There are plenty of adjectives to describe Michigan weather in the fall. A few that come to mind are volatile, unpredictable, erratic and random. One day, the sun is shining...
View ArticleClik here to view.
Why Did the Debt Crisis Affect Mortgage Rates If It Didn’t Actually Happen?
Well, one thing’s for sure. The recent turbulence in Washington D.C. over the government shutdown and debt limit has caused some volatility in the financial markets. This should be a surprise to no...
View ArticleClik here to view.
Mortgage Rates Reach Four-Month Low!
Click the graph to enlarge. Mortgage rates have three options: rise, drop or remain the same. After a few weeks of inching upward/remaining unchanged, rates took a dive this week – not just any dive,...
View ArticleClik here to view.
Stocks End Week Mostly Up – Market Update
Last week: Headline News Retail Sales – Sales in September dropped 0.1%, following a 0.2% rise in August. The slip was a surprise to analysts, who projected no change for September. Producer Price...
View ArticleClik here to view.
Average Mortgage Rates Rise While Ours Take a Dive
Click graph to enlarge. I told you so. Nobody likes hearing those four awful words. As if finding out you were wrong about something wasn’t bad enough, there’s always someone there to let you know that...
View ArticleClik here to view.
Mortgage and Real Estate Predictions for 2014
Click to enlarge. Really great article in the New York Times last Friday about what Americans can expect in the upcoming year. Well, what they can expect when it comes to mortgages and home buying to...
View ArticleClik here to view.
U.S. Home Builder Sentiment Resumes Upward Push in December – Market Update
Last Week: Headline News Consumer Price Index – Headline CPI inflation in November posted a flat reading after dipping 0.1% in October. The CPI excluding food and energy firmed to 0.2%, following a...
View ArticleClik here to view.
Why You Should Consider a 15-Year Fixed Mortgage Now
If you have a 30-year fixed-rate mortgage with a rate of 4.5% or higher, I have great news for you. Right now, a 15-year fixed is about 1% below the 30-year fixed rate. That means you could save...
View ArticleClik here to view.
Mortgage Rates Continue to Decrease – Market Update
Headline News from Last Week MBA Purchase Applications – The purchase index fell 3% with the year-on-year at a very steep -12%. Jobless Claims – After consecutive weeks of solid improvement, claims...
View ArticleClik here to view.
Learn All About Mortgage Rates with Mortgage Rates 101
Mortgage rates are pretty simple to understand. The lower the rate, the lower the payment – right? Not necessarily so. Mortgage rates can be a little complicated, and often a person may not simply...
View ArticleClik here to view.
Why Waiting for a New Home Could Cost You Money
A very interesting article appeared in the Detroit News last week: Likelihood of a pricier mortgage discourages people from selling. The article was about a new phenomenon that is affecting the...
View ArticleClik here to view.
Know Your Rate: How Oil Prices Affect Mortgage Rates
On the right-hand side of the Quicken Loans homepage, there’s a box that shows our mortgage rates. You might be wondering how we come up with them. As easy as it might be to believe that these numbers...
View ArticleClik here to view.
How U.S. Monetary Policy Influences Mortgage Rates
“Mortgage rates are at near-historic lows.” “Lock now before the Fed raises interest rates.” If you’re in the market for a mortgage, you may be hearing these messages often with little or no idea how...
View ArticleClik here to view.
Brexit Drops Mortgage Rates to Historic Lows
Last week, the United Kingdom voted to leave its place in the European Union. Because of Thursday’s Brexit vote, we anticipated mortgage rates could drop to historic lows. Today we can confirm...
View ArticleClik here to view.
What Affects Mortgage Rates?
It’s a message we’ve gotten very used to hearing over the last few years: Rates are near historical lows. Lock your rate in now because they won’t be this low forever. The exact words change, but the...
View ArticleClik here to view.
Federal Reserve Issues Interest Rate Reprieve – Market Update
Last week, we did get some housing data, but really, all eyes were on what the Federal Reserve was going to do. In the end, they decided to leave things where they were and punt short-term interest...
View Article