What’s Ahead For Mortgage Rates This Week : August 15, 2011 - 08/15/11 12:10 PM
  Mortgage markets improved again last week. The combination of global economic uncertainty plus a dour outlook from the Federal Reserve pushed mortgage bonds to highs for 2011, and drove mortgage rates below their all-time lows. Bonds were volatile, driven by the stock market’s gyrations.
On 4 consecutive days, the Dow Jones Industrial Average moved by more than 400 points. Rate shoppers in Michigan had no choice but to go along for the ride. 
The week began with the market’s reaction to Standard & Poor’s U.S. credit rating downgrade. Mortgage bonds caught a boost on the news, and pushing rates lower … (0 comments)

What’s Ahead For Mortgage Rates This Week : August 8, 2011 - 08/08/11 10:15 AM
  Mortgage markets were especially volatile last week, taking rate shoppers in Michigan on a roller-coaster ride. The week’s news schedule was full. It included debt ceiling debates, jobs figures, and ongoing maneuverings within the Eurozone. Each story a material impact on mortgage rates and, as a result, rates varied wildly from day-to-day.
Throughout the early part of the week, mortgage rates fell.
Monday, bond markets improved as leaks of the congressional debt ceiling agreement surfaced. Investors approved of the accord’s general terms and bought U.S.-backed debt to prove it. Tuesday, when the final agreement was reached and the terms were made … (0 comments)

What’s Ahead For Mortgage Rates This Week : August 1, 2011 - 08/01/11 09:18 AM
  Mortgage markets improved last week as the U.S. debt ceiling debate continued on Capitol Hill. Bonds traded in a range Monday through Thursday before breaking higher Friday morning. 30-year fixed conforming mortgage rates improved in Michigan last week, falling to levels just north the product’s all-time low set in November 2010.
5-year ARMs improved last week, too. The benchmark adjustable-rate mortgage’s average national rate is now tied with its all-time low, also set last November.
This week, the direction of mortgage rates depends on two events:
The resolution of the U.S. debt ceiling debate, due Tuesday The July Non-Farm Payrolls report, due … (0 comments)

 
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Don Grimes

Don Grimes

Okemos, MI

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Michigan Mutual Mortgage

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