The Coronavirus has wreaked havoc on the financial markets so far in March 2020. Investors have been fleeing from stocks and investing in lower risk assets such as Bonds, Treasury Notes and Mortgage Backed Securities. This has helped us hit the lowest mortgage rates in history. The news is quick to report on the low… Read more »
Author: Anthony Bird
Making the Decision to Buy vs Rent in Michigan
A decision that many people face in life is deciding whether it is cheaper to rent vs buy a home in Michigan. The answer is not the same for any two people since there are so many variables in basing your housing decision. The best place to start is by researching your options and to… Read more »
How New FICO 10 Credit Score Changes Affect Home Buyers
A brand new FICO credit scoring model will be used in the summer of 2020. These credit changes will affect millions of home buyers. Every 5 years or so FICO rebuilds their score model. This new scoring model will look at your credit history for the last 24 months, whereas the current model only looks… Read more »
How to Become a Mortgage Broker in Michigan
Mortgage Broker Growth What is a Mortgage Broker? Mortgage Broker Benefits Loan Support Transparency on Rates and Fees Loan Options How to become a Mortgage Broker With the recent shift in the mortgage industry, many loan originators are wondering how to become a mortgage broker. The rise of a major trade organization, the Association… Read more »
New Maximum Conforming Loan Limits for 2020
Conventional Loans are now bigger and better. The Federal Housing Finance Agency (FHFA) announced the new conforming loan limits for mortgages sold to Fannie Mae and Freddie Mac in 2020. In most of the U.S., the new 2020 maximum conforming loan limit for one-unit properties will be $510,400. This is an increase from $484,350 in… Read more »
Refinancing a Mortgage After a Divorce
Getting a divorce is never a fun experience. Moving on after a breakup does not have to be hard when refinancing a mortgage after a divorce. Unfortunately 50% of marriages end in divorce and 60% of these couples are homeowners. This means that you are not along when it comes to refinancing after a divorce.… Read more »
Feds Cut Rates But Not Mortgage Rates
You may have heard that the Federal Reserve has been cutting rates to slow economic slowdown. Industry experts predict that they may cut the Fed rates again this week. It would be a surprise to the economy if they did not follow through with another cut. With this said, it is important to know that… Read more »
What are Today’s Mortgage Rates?
There is a lot of confusion when it comes to mortgage rates. You may see rates on the news, TV commercials, internet ads and promotions at your bank but what really are the today’s mortgage rates? The answer to this question is not straight forward to understand. When it comes to mortgage rates, there is… Read more »