MORTGAGE NEWS YOU CAN USE - 12/21/06 02:18 PM
 
Rate Watch - Freddie Mac reported on Dec. 14 that 30-year fixed-rate mortgages averaged 6.12%, up from 6.11% two weeks back. 15-year loan rates increased from 5.86% from 5.84%.  With mortgage rates remaining near their lowest levels, exotic mortgage borrowers are now jumping into the safety of fixed-rate loans.
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As expected, the … (1 comments)

Option ARM and Interest Only Loans - 12/14/06 02:34 PM
According to data from Loan Performance, one in three homeowners refinancing today is choosing the financially riskier Interest Only and payment options ARM's loans.  For years I have provided both loans to my clients.  I love interest only loans for financially responsible people.  I like the idea of spending the least … (1 comments)

Mortgage News You Can Use - 12/13/06 02:35 PM
 
Rate Watch - For the week ended Dec. 8 the 30-year fixed rate rose to 6.02% from 5.98% last week.  Fixed 15-year mortgage rates decreased from 5.75% to 5.66%.
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Economic and Market Watch Report - (Based on information from the Ann Arbor Area Board of Realtors Multiple Listing Service for the period … (2 comments)

PMI / Mortgage Insurance is soon to be tax deductable - 12/12/06 03:37 PM
Well the government finally got this one right.  Starting in 2007 PMI and/or mortgage insurance will be tax deductible for people with incomes under $100,000.  This can be a real cash savings for those who buy a home in 2007 using a loan that has PMI (mortgage insurance).  This law has … (9 comments)

Zero Down Loans - 12/11/06 01:38 PM
More and more of my clients in the Ann Arbor area are buying homes with no down payment loans.  In the 1990's it was very rare for someone to buy a home in Washtenaw County without some sort of down payment (except for VA loans which always offered a no down … (5 comments)

Mortgage News You Can Use - 12/08/06 01:51 PM
Mortgage News You Can Use!!
Rate Watch - Mortgage rates fell for the fifth consecutive week, sending rates to the lowest level in nearly a year. For the week ending Nov. 30th, 30-year fixed rates averaged 6.14%, down from 6.18% the previous week.  A year ago 30-year rates were at 6.26%.
All eyes … (2 comments)

 
Loan Officer: David Crisp (Ann Arbor Mortgage)
David Crisp
Ann Arbor, MI
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Ann Arbor Mortgage

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