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RECENT BLOG POSTS
Mortgage rates and the major stock market indices rose last week in response to a strong jobs report and lower national unemployment rate. The Department of Labor’s Non-farm Payrolls report for February surpassed expectations with 236,000 new jobs reported against expectations of 170,000 new job...
03/10/2013
U.S. Budget Stalemate, Italian Elections Stir Concerns Mortgage rates were lower last week as investors sought safety in bonds in the wake of US legislators’ failure to agree on budget cutbacks, and after Italy’s elections failed to reveal a leader committed to continuing economic reform. When bo...
03/03/2013
A quiet past week in economic news caused mortgage rates to worsen slightly. This week, however, will be packed with economic reports which may have an impact on interest rates going forward. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from...
02/24/2013
Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in Michigan and across the country. Acco...
02/10/2013
Mortgage rates worsened last week amid evidence of an improving economy. Conforming mortgage rates climbed in Michigan and nationwide, rising to a 4-month high. Freddie Mac has the average 30-year fixed rate mortgage rate at 3.53% for borrowers willing to pay 0.7 discount points plus a full set ...
02/03/2013
Mortgage rates rose last week as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed. Last week’s economic news...
01/27/2013
Mortgage rates rose last week nationwide during a week of sparse economic news. Thursday’s weekly jobless claims report showed 371,000 new claims, which was 1,000 fewer jobless claims than for the prior week. Wall Street expectations of 365,000 new jobless claims turned out to be too optimistic....
01/13/2013
-->Mortgage bonds improved last week, pushing mortgage rates lower in Michigan and nationwide. Positive economic news and strong housing data was trumped by ongoing Fiscal Cliff discussions on Capitol Hill. The “Fiscal Cliff” is meant to represent January 1, 2013 — the date on which mandatory spe...
12/30/2012
Mortgage markets worsened last week amid ongoing discussions budget and tax conversations in Washington, D.C., and the release of key housing and economic data. Mortgage rates climbed in Michigan and nationwide. Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.37 percent nat...
12/23/2012
>Mortgage bonds worsened last week, moving mortgage rates higher. Economic news was mostly positive and the Federal Open Market Committee (FOMC) changed some of Wall Street expectations for future monetary policy. Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.32 percent n...
12/16/2012
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Don Grimes

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