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Market Comment Mortgage bond prices finished the week lower which put upward pressure on rates. We saw selling pressure almost every day. The Fed rate hike dominated sentiment throughout most of the week. The data was mixed but generally showed solid economic growth and tame inflation readings. FHFA housing rose 0.7% as expected. Consumer confidence … Continue reading MIG Market Watch, July 31st, 2023
Market Comment Mortgage bond prices finished the week near unchanged which held rates steady. Rates remained volatile with sharp up and down movements but fortunately we ended the week flat. A lot of tame data helped stem upward pressure on rates. Industrial production fell 0.5% vs the expected unchanged reading. Capacity use was 78.9% vs … Continue reading MIG Market Watch, July 24th, 2023
Mortgage Investors Group (MIG) has been recognized by the Tennessee Housing Development Agency (THDA) as the top lender in the state for the 20th consecutive year. This remarkable achievement reflects MIG’s unwavering commitment to expanding homeownership opportunities, particularly in rural communities where traditional financing options may be limited. The THDA, an organization dedicated to promoting … Continue reading 20 Years of Excellence: Mortgage Investors Group Recognized as Tennessee’s #1 THDA Lender
Market Comment Mortgage bond prices finished the week sharply higher which put significant downward pressure on rates. Rates improved almost every day last week. There were not a lot of economic releases but most of the ones we had helped considerably. Consumer prices rose 0.2% vs 0.3%. The core, which excludes volatile food and energy … Continue reading MIG Market Watch, July 17th, 2023
Getting approved for a mortgage is a key element of your homebuying journey. It dictates whether you can buy a home and how much of one you can afford. When you apply for a mortgage, you’ll need to share your entire financial picture with your loan officer. This includes your credit score, income and assets. … Continue reading Trying to Qualify for a Mortgage? Here’s Why Assets Matter in Home Loan Approval
The real estate industry is complicated. You’ll undoubtedly hear lots of unfamiliar terms during the homebuying process. One of them is escrow fees. What does that mean, and how does it affect you? Read on for a full explanation of what escrow fees are, who pays them, and how much they cost. What Are Escrow … Continue reading Everything You Need To Know About Escrow Fees Before Buying a Home
There are many avenues for finding homes to buy. One of them is buying a home that’s in foreclosure. Is that a good idea? Do you save money? How do you get started? Let’s dive into these questions and more. Is Buying a Foreclosed Home a Smart Idea? A foreclosed home is a property that … Continue reading Unlocking Opportunities: Strategies for Buying a Home in Foreclosure
Market Comment Mortgage bond prices finished the week sharply lower which put upward pressure on rates. Rates went back and forth to start the week but pushed significantly higher following the Fed minutes Wednesday afternoon and stronger than expected ADP data Thursday morning. ADP employment was 497K vs 228K. The rest of the data was … Continue reading MIG Market Watch, July 10th, 2023
Buying a home for the first time is a big deal. It’s probably one of the biggest financial decisions you’ll ever make. We’ve created a list of our top tips to help first-time homebuyers get ready for the journey. Do an Internal Life Check Are you ready to buy a house? Ask yourself some questions … Continue reading 10 Tips for First-Time Homebuyers
Buying a home is often the biggest financial investment consumers make in their lifetimes. If there’s one piece of advice to follow on the journey, it’s to avoid buying more house than you can afford. Here are some tips for setting financial boundaries when buying a house. Make a realistic budget Writing out a budget … Continue reading The Power of a Homebuying Budget: Why Setting Financial Boundaries Matter
After you find your new home, get approved for a mortgage, and make it through closing, it’s smooth sailing, right? Not quite. Homeownership ushers in additional responsibilities and obligations you need to be prepared for. After you close on your home, avoid making these seven mistakes. No. 1: Misplacing Your Closing Documents All those documents … Continue reading Top 7 Things To Avoid Doing After Closing on a Home
Market Comment Mortgage bond prices finished the week lower which put upward pressure on rates. Rates worsened almost every day. The data generally showed strength which fuels the Fed’s argument that more aggressive rate hikes may be needed. FHFA house prices rose 0.7% vs 0.3%. Consumer confidence was 109.7 vs 104. New home sales were … Continue reading MIG Market Watch, July 3rd, 2023
