Sales Manager, Sr. Loan Officer NMLS#162273
Monday’s MBS Update Week of August 23, 2021, in Review Existing and New Home Sales both beat expectations in July. Consumer inflation also remains hot and Fed Chair Jerome Powell delivered some key remarks. Sales of existing homes rose 2% from June to July, reaching an annual pace of 5.99 million units. Sales are also up 1.5% when compared to July of last year and are still at strong Read More…
MBS Road Signs 8-23-21 Week of August 16, 2021 in Review July’s Housing Starts reached their weakest level since April, while supply chain bottlenecks continue to impact builders. Initial Jobless Claims hit a post-pandemic low, while Fed chatter about tapering continues. Housing Starts fell 7% in July, which was well short of expectations. More importantly, starts for single-family homes alsoRead More…
MBS Road Signs 8-16-21 Week of August 9, 2021, in Review Inflation remains elevated at both the consumer and wholesale levels, while Initial, Continuing, and Pandemic Jobless Claims all showed nice declines. Consumer inflation as measured by the Consumer Price Index (CPI) rose by 0.5% in July while the year-over-year reading remained at 5.4%, which is still the highest year-over-year increase iRead More…
Given how hot the housing market has been, you may have heard talk of a housing bubble in the media. Let’s break this down and analyze what causes a housing bubble. In typical bubble-like conditions, as we saw during the last housing bubble, there is a decline in demand and a large amount of supply. Back in 2007, there were roughly 3.7 million homes for sale and not enough demand to sop up thRead More…
With interest rates still sitting on the low end of the spectrum, we would like to continue discussing the topic of using your home’s equity to make repairs and improvements that often get overlooked via a cashout refinance. We’ve gathered a few updates and improvements that, if done early, can prevent costly repairs down the line. Irrigation Systems Gone are the days of messing with timers Read More…
Despite today’s low-interest rates and strong home values, some homeowners have delayed refinancing their homes. If that’s you, then recent industry news gives you another reason to move forward. The Federal Housing Finance Agency (FHFA) has removed an “adverse market fee” that was previously driving up costs to refinance. Depending on how it was calculated into the loan, it added eiRead More…
FEDERAL HOUSING ADMINISTRATION TAKES STEPS TO REMOVE BARRIERS TO HOMEOWNERSHIP FOR THOSE WITH STUDENT LOAN DEBT Updates to Single Family student loan monthly payment calculation expand access to FHA-insured mortgage financing for creditworthy individuals, particularly in communities of color WASHINGTON – The Federal Housing Administration (FHA) on Friday announced updates to its student loan mRead More…
Home Prices Feeling the Heat CoreLogic released their Home Price Index report for April, showing that home prices increased 2.1% from March. Prices also rose 13% year over year, which is up from the 11.3% annual gain reported for March. Within the report, the hottest markets once again were Phoenix (+21%), San Diego (+16%) and Denver (14%). CoreLogic forecasts that home prices will rise 1Read More…
This Week’s Update from Victor The weather isn’t the only thing warming up today for our ‘Michigan Weather’ at it’s finest; home construction is on the rise while consumer inflation is heating up! March brought some good news for homebuyers struggling with limited inventory. Housing Starts (which measure the beginning of construction on homes) were up almost 20% from February when bad weatheRead More…
WOW! What a first quarter in the real estate and mortgage world. Today I would like to update everyone on a personal health issue I had to deal with. Back in quarter 4 of 2020, my father was diagnosed with stage 3 vascular dementia, then Alzheimer’s, and then a brain tumor the size of a golf ball. Most times he does not even know I am his son. This weighed heavily on me in December regarding Read More…