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RECENT BLOG POSTS
Mortgage markets worsened slightly last week as positive U.S. economic news overshadowed growing concerns for the Eurozone’s future. Political and economic issues continue to weigh on Greece and Spain, and it’s still unknown how France’s new President will change that nation’s fiscal direction. C...
05/13/2012
Mortgage markets were mostly unchanged last week for the second straight week. Spain made few moves to allay concerns from its investors, the Federal Reserve did little to change its message on the U.S. economy, and newly-released economic data was in-line with expectations. Conforming mortgage r...
04/29/2012
  Mortgage markets were mostly unchanged last week, breaking a three-week winning streak. Wall Street grappled with surprising demand on Spain’s debt issuance and a series of weaker-than-expected data points on U.S. housing. Conforming mortgage rates across Michigan rose slightly according to the...
04/22/2012
  Mortgage markets improved last week as a global flight-to-quality continued. With Spain facing questions on its sovereign debt, investors continued to pare exposure to risky assets, sparking demand for the relative safety of U.S. government-backed mortgage-backed bonds. As a result, conforming ...
04/15/2012
>In a week of up-and-down trading, mortgage markets improved for the second consecutive week last week. Weaker-than-expected jobs data plus evidence of a slumping Eurozone took mortgage bonds lower, capped by a furious Friday morning rally that dropped mortgage rates to near-record levels. Once a...
04/08/2012
Mortgage markets improved last week on renewed concerns of a European debt default, and Federal Reserve rhetoric. Conforming mortgage rates in Michigan dropped on the news, one week after posting a 5-month high. A major strike in Spain and growing unrest in Italy, both in opposition to recent aus...
04/01/2012
Mortgage markets worsened last week as the Federal Reserve’s Federal Open Market Committee suggested economic recovery may be closer than it originally expected, and that inflation may be a near-term economic concern. Although the FOMC voted to leave the Fed Funds Rate unchanged in its current ra...
03/18/2012
Mortgage markets worsened last week as the U.S. economy continued to show that it’s in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same. In a congressional testimony Wednesday, Chairman Bernanke suggested that new, Fed-led stimulus may not be imminent, surprising...
03/04/2012
  Mortgage markets improved in a holiday-shortened week last week, drawing mortgage rates lower throughout East Lansing and nationwide. Few new economic releases reached the markets, but those that did suggested recovery — especially with respect to housing and employment, two key drivers of the ...
02/26/2012
Mortgage markets worsened last week as the Eurozone moved closer to a bailout agreement with Greece, and the U.S. economy displayed more signs of growth. In response, mortgage rates climbed last week. Rate shoppers should not be surprised that rates ticked north. Since mid-2011, weakness in Greec...
02/20/2012
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Don Grimes

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