Michael 's Mortgage Blog

Good Evening, For the second straight year I am proud to announce that my company is again fielding 10 participants to ride as "Team Partners" this year at the annual Pan-Mass challenge.  The Pan-Mass Challenge or "PMC" http://www.pmc.org/ is a terrific event that raises money for cancer research...

Good Afternoon, I hope that everyone had a nice Memorial day weekend.This week, May 4th-June 1st, is a 4 day week jam packed with the release of seven important economic reports. Four of which are considered to be highly important to the bond market and mortgage/interest rates.  I apologize for t...

This week of May 21-25 brings the release of three important monthly reports for the markets to digest. Of the three, only one of them can be considered highly important to mortgage rates. All of the releases are scheduled to be posted the middle and latter part of the week, therefore, expect tod...

Good afternoon,Here are the new changes being released on Saturday.  Please let me know if anyone has any additional questions or you can contact Fannie Mae's customer service division at 1-877-722-6757.Michael Savas- REMINDER - Effective with new loans submitted to DU on or after May 19, 2007Und...

Good Morning, I am sure that most of you are completely unaware of this as was I until one of the many lenders that I do business with called me late last night to tell me of these dramatic new changes.  On Saturday, May 19th there will be significant changes to DU being released. It would behoov...

Good afternoon, Below you will find the 2007-2003 tax bracket thresholds for Single, Married/Jointly/Married/Separately, and Head of Household.  As a trusted advisor to my customers, I find this information to be instrumental in helping to determine the best financial strategy for my clients uniq...

Good Morning Again, normally I do not blog more than once a day, but I felt compelled to share this interesting and positive information with the AR community.Best regards,  Michael Savas  U.S. Mortgage Applications Rise for Third Straight WeekTopics:Real Estate | North AmericaBy Reuters | 09 May...

Good Morning, Just as expected the Fed held rates steady yesterday and decided against a rate hike or decrease.  They did however say that inlfation remains stubbornly persistent and their # 1 enemy. This in turn caused bond traders to initiate a minor sell off while Wall Street enjoyed a nice bo...

Good Afternoon,         This week of May 7th - 11th is pretty light in terms of economic reports scheduled for release that could impact rates.  For all of you readers wondering what exactly drives interest rates, I will offer a brief summary. Interest Rates are driven by the bond market, which i...