Michael Shotnik's Blog

The anticipated U.S. Employment Situation Report for October released today revealed:"Total nonfarm payroll employment rose by 204,000 in October, and the unemployment rate was little changed at 7.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in leisure and h...

Did you know mortgage rates hit new 4-month lows yesterday?According to Mortgage News Daily, mortgage rates continue to fall. This makes it an ideal time to lock in a loan before rates rise. Our team checks the news daily to keep up with the economic trends to bring you the most accurate data. Yo...

Those in the Real Estate, Broker and Lender business check the news each day; wondering how the Government shutdown is affecting the ability and confidence of people to refinance and purchase a new home.According to the Wall Street Journal, the mortgage market is still functional and home-buyers ...

As long as the shutdown doesn't last much longer, the effect on the mortgage and housing market will be minimal.   However, the Federal Reserve's decisions on stimulus spending efforts depend on unemployment reports which are being held up by the Bureau of Labor Statistics. BLS cannot collect dat...

Let's face it, we're all confused about the extent to which we are affected by the government shutdown. If you visit certain agency websites, they can't stay updated because of employees on furlough.The USA.gov website can provide much of the information you might be looking for. It details whic...

There is a lot of inconsistent information circulating about the impact of the current government shutdown. We would like to share what we have learned so far as of this afternoon.   Fannie Mae, Freddie Mac, and VA are business as usual.   FHA is mostly business as usual. The FHA Connection is st...

At 2 P.M. today, the Senate will reconvene to continue their deliberation over budget proposal disagreements that threaten to shut down the government until a compromise can be reached about the funding of Obamacare.What does this mean for the U.S.? Federal workers will be put on furlough with un...

According to National Mortgage Professional, even though the mortgage market is improving and rates are more affordable, 30 percent of Americans don't qualify for a mortgage due to their credit score. Hopeful borrowers with credit scores under 620 (one-third of Americans) are unable to qualify fo...

Colorado Mortgage has a special relationship with our Real Estate agents and customers. The power of networking, social media and word of mouth are influential tools in growing your client base and successful home purchase transactions.   We like to stay connected to our agents; sharing their lis...

  In this fierce market you need every tool possible to assist your buyers. That’s where we come! The Mortgage Credit Certificate program is the perfect tool to maximize your buyer’s purchasing power. The program will allow them to qualify for 10%-20% more. How it works: The MCC must be applied a...