Vic’s Forecast of our Market with the Virus

I wanted to take a moment to share my opinions, forecast, and insight on the effect of the Coronavirus on the Mortgage and Real Estate industry. I will try to put this in an easily understandable sequence and offer some explanations to the Mortgage and Real Estate industry in recent weeks. As the virus takes hold of the world, economy, and our way of life, we will all feel the pinch. It appearsRead More…

Mortgages and the World Economy

The Feds took a bold move yesterday and lowered interest rates to an all-time low of 0 -.25%. What does this mean to the consumer? When the Feds lower interest rates, Businesses, and Banks can borrower from the Feds at nearly no costs. These are short term loans to be paid back generally 90 to 180 days. This will not necessarily affect MORTGAGE interest rates but it will help. It will affect Home Read More…

Coronavirus effecting Interest Rates

Some Perspective on the Markets from the local expert: Jeffrey R. Saunders, JD, CFP® Recent market drops make it easy to remember Paul McCartney’s lyrics, “yesterday, all my troubles seemed so far away…” It was just February 19th that the markets were at an all-time high. Just over a week, later the major averages had dropped nearly 15%. What was starting out as a good first quarter Read More…

Real Estate Fact of Fiction from MBS

It’s amazing to me, but, right here in Livingston County, there are over 7,000 residents who are currently renting but can afford to purchase a home. They are qualified to buy a home, so why wouldn’t they? Some people think that the housing market isn’t stable, but home prices in Livingston County are forecasted to appreciate by 2.8% over the next year, and 16.3% over the next 5 years. DoRead More…

HRM Builds new Corp. Office

HERE WE GROW AGAIN AT HIGHLANDS! Last April my team and I made a smart and beneficial move to Highlands Residential Mortgage. This INC 500 company has achieved record-breaking numbers since the time they originated. Our latest growth, NEW CORPORATE OFFICE! Read the article here for more information about the build-out of the new building in Allen, TX “We have experienced tremendous growthRead More…

MBS Highway Weekly Newsletter 11.4.19

Weekly ReviewThe major stock market indexes ended higher, setting new all-time highs.  Mortgage Bonds were also higher for the week, surviving an action-packed news week and stronger than anticipated Jobs Report. The Bureau of Labor Statistics (BLS) reported that there were 128,000 jobs created in the month of October, which higher than the 90,000 expected.  Additionally, there were, 95,000 in Read More…

A, B, C’s of Mortgage

Amortization – Number of years it will take you to repay the mortgage loan in full. Banker –  A company that originates mortgages, using their own or borrowed funds. Compliance – This Department adheres to external rules and internal controls to protect the company and investors alike. Debt to Income Ratio (DTI) – Monthly Debt Payments / Monthly Gross Income = DTI. This has to do with a Read More…

Understanding the Mortgage Payment

The mortgage principal is not the sole contributor to a mortgage payment. What is in a mortgage payment consists of 4 main components: PITI – Principal, Interest, Taxes, and Insurance PRINCIPAL The loan amount borrowed and spread over the life of the loan. INTEREST The fee agreed to pay as a borrower when you took out you agreed on your home loan. Interest is measured as a percentagRead More…

DETAILS OF MSHDA

  The Michigan State Housing Development Authority (MSHDA) is a federal tax credit issued in cnnection with the purchase of a h ome. It allows homebuyers to credit 20% of the annual mortgage interest paid against their year-end federal income tax liability. The maximum credit is $2,000 per year. The MSHDA provides products and programs to not only homebuyers but sellers as well. MSHDA iRead More…

MSHDA RATES DROP!

Homeownership Special Announcement from MSHDA New MSHDA Rates Effective Wednesday, July 10, 2019 RATE DECREASE will go into effect on WEDNESDAY, JULY 10, 2019. MI Home Loan no DPA 3.75% APR 3.851% MI Home Loan with up to $7,500 DPA 4.375% APR 4.479% • Loans previously reserved must adhere to existing/original rate, no rate drop. • Expired/Expiring reservations will be extendeRead More…