rates: Michigan Mortgage Rates
- 03/10/08 03:46 AM
Michigan Mortgage Rates are some of the lowest rates that we have had in years. One bank has a one year ARM that is under 4%. That is an amazing number, but the biggest problem with a loan like that is you will incur 2 sets of closing costs within 1 year. This could offset any amount of savings. The best Michigan Mortgage Rates right now are on 5 year ARMs. Todays 5 year ARMs rate is 6%. This is for a cash out mortgage. If you are doing just refinancing for a better rate the rates will be better than 6%. For … (0 comments)
rates: Michigan Mortgage Rates
- 03/04/08 06:05 AM
Rate watching is becoming a real common trend with people anymore today, but one thing I will advise people is to proceed with caution when looking to refi, because it is not going to be the easiest thing to do in Michigan. This is in large part because of the housing market being so bad. The banks are trying to eliminate loans that are cash out above a certain Loan to Value, which is difficult to even get a true appraisal on anything in Michigan. Banks have officially started viewing foreclosures as part of the housing norm. If you are looking … (2 comments)
We will talk about a number of random things. I do not limit my conversations to just real estate, but to things that are on my mind for that day. I am a bit of a rambler, so be prepared, but let's mention Howell, Brighton, and Hartland, so I can get some google love.
Michigan Mortgage Rates are some of the lowest rates that we have had in years. One bank has a one year ARM that is under 4%. That is an amazing number, but the biggest problem with a loan like that is you will incur 2 sets of closing costs within 1 year. This could offset any amount of savings. ;)
;)
