Don Grimes's (grimesd) Blog

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RECENT BLOG POSTS
Mortgage bonds worsened last week as Fiscal Cliff talks moved closer to resolution and as the U.S. economy showed continued signs of growth. Conforming mortgage rates in Michigan rose slightly, edging off the all-time lows late in November. According to Freddie Mac’s weekly mortgage rate survey, ...
12/09/2012
Low mortgage rates are pumping up home affordability. Average 30-year fixed-rate mortgage rates made a new all-time low in November, continuing this year Refinance Boom and giving fuel to the budding housing market recovery. At month-end, Freddie Mac’s survey of 125 banks nationwide put the bench...
12/02/2012
When Michigan homeowners get ready to list, advice will often come from all corners of their personal and social network — what within the home to upgrade; what to repair; what to replace. And, although some advice remains valuable, much of it can be ignored. The costs of an expensive upgrade are...
11/25/2012
The Federal Reserve released its October Federal Open Market Committee (FOMC) meeting minutes last week, revealing a Fed in disagreement about the future of the U.S. economy and about what, if any, stimulus may be warranted in the next 12 months. The “Fed Minutes” recaps the conversations and deb...
11/18/2012
Mortgage markets ended the week slightly better last week. Wall Street took its cues from U.S. economic data, from developments in Europe, and from the Federal Reserve, moving mortgage rates lower in Michigan and nationwide. Pricing for both conforming and FHA mortgage rates improved between Mond...
10/28/2012
Mortgage markets worsened last week as hope for a European economic rebound and stronger-than-expected U.S. economic data moved investors out of mortgage-backed bonds. Mortgage rates all of types — conventional, FHA and VA — lost ground last week, harming home affordability in East Lansing and re...
10/21/2012
Mortgage markets worsened last week for the first time in a month as the U.S. economy showed signs of improvement, and the Eurozone stepped closer to launching its $500 billion euro rescue fund. Conforming mortgage rates in Michigan rose last week on the whole — even though Freddie Mac’s Primary ...
10/08/2012
Mortgage rates dropped to another all-time low last week as concerns for global economic growth helped U.S. home buyers and refinancing households nationwide. U.S. mortgage rates responded to non-U.S. events and, for rate shoppers and home buyers in East Lansing , home affordability improved. Ear...
09/30/2012
Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high. A series of economic reports showed strength in housing and a stability in jobs. Wall Street looked past it, however, to send mortgage rates to their lowest levels in histor...
09/23/2012
Mortgage markets improved last week as the Federal Reserve introduced new economic stimulus. The move trumped bond-harming action from the Eurozone, and a series better-than-expected U.S. economic data. The 30-year fixed rate mortgage rate dropped last week for most loan types, including for conf...
09/16/2012
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Don Grimes

NMLS ID #130686
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