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Market Comment Mortgage bond prices finished the week considerably lower which put sharp upward pressure on rates. Rates worsened throughout most of the week with only a slight reprieve Friday morning. Elevated oil prices and high inflation weighed heavily on trading. The Fed kept rates unchanged but signaled there could be another rate hike before … Continue reading MIG Market Watch, September 25th, 2023
If your elderly parents don’t qualify for a mortgage loan, you may be considering purchasing a home on their behalf. The good news: There’s help for this situation from the Family Opportunity Mortgage by Fannie Mae. Is it right for you? Let’s give it a closer look. What Is the Family Opportunity Mortgage? Fannie Mae … Continue reading Buying a Home for Your Aging Parents? Consider the Family Opportunity Mortgage
Market Comment Mortgage bond prices finished the week a little lower which put upward pressure on rates. Rates generally worsened throughout most of the week. Elevated oil prices, high inflation, and softening consumer attitudes impacted trading. Consumer prices rose 0.6% as expected. The core, which excludes volatile food and energy, rose 0.3% vs 0.2%. Producer … Continue reading MIG Market Watch, September 18th, 2023
Sometimes refinancing your home makes good financial sense. Other times, it’s best for borrowers to stay the course and work with the mortgage loan they currently have. How can you know if refinancing is right for you? Ask yourself these questions to decide which path to take. Do I understand what refinancing involves? When a … Continue reading Refinancing 101: Why and When to Refinance Your Mortgage
At the beginning, moving into a new place may sound simple. You throw your stuff in boxes and hire movers to transport your belongings from one place to another, right? The process rarely goes that smoothly. Without proper planning, you can make several moving mistakes that can cost you time and money, and create tons … Continue reading Ensure a Successful Move by Avoiding These Moving Mistakes
Market Comment Mortgage bond prices finished the week a little lower which put upward pressure on rates. The up and down trading pattern continued. We started the week with significant rate increases and finished the week with some slight positive rebounds. Oil prices shot higher recently as Russia and Saudi Arabia announced production cuts. The … Continue reading MIG Market Watch, September 11th, 2023
If you’re thinking about buying a home within the next two years, it’s time to start working on your credit. Lenders use credit scores as big indicators of whether borrowers are ready to handle a mortgage loan. Your credit heavily weighs into the mortgage decision. If affects the interest rate you pay and the type … Continue reading How To Improve Your Credit Score for a Better Mortgage Offer
When you start your homebuying journey, you need to determine your budget, where you want to live, the type of home you’re interested in, and who your real estate agent will be. However, getting preapproval for a loan should be the first thing you do. It’s not as in-depth or complicated as you may think … Continue reading Demystifying the Mortgage Pre-Approval Process
Market Comment Mortgage bond prices finished the week higher which put a little downward pressure on rates. The up and down trading pattern continued. We started the week with rate improvements amid weak data. FHFA housing rose 0.3% as expected. Confidence was 106.1 vs 116. Q2 Gross Domestic Product rose 2.1% vs 2.4%. ADP payrolls … Continue reading MIG Market Watch, September 4th, 2023
If you think all mortgage lenders are the same, you could be setting yourself up for a frustrating experience. Working with the right lending partner is one of the most vital decisions you’ll make. With so many mortgage companies vying for your attention, the choice can be overwhelming. To help you decide, we’ve created a … Continue reading 7 Key Factors To Consider When Choosing a Mortgage Lender
