Minute with the Mavens

01/30/2024

01/04/2024

Great News to start the New Year! MSHDA's MI Home Loan ⬇️Rate Decrease⬇️ goes into effect Friday, January 5th!

11/17/2023

MSHDA rate increase effective today, November 17, 2023. Still an amazing program for homebuyers!

09/25/2023

***FREE HOMEBUYERS SEMINAR***
Want to learn about all your homebuying options 🏠, available down payment assistance programs💰, and how to maximize your credit score⬆️?
Join us this Thursday, Sept 28th at 6:30 at Realty Executives Home Towne!
Call or text your RSVP to Lisa at 586-914-5031 or Kathy at 586-770-2248.

09/14/2023

Want to learn about all your homebuying options 🏠, available down payment assistance programs💰, and how to maximize your credit score⬆️?
Join us Thursday, Sept 28th at 6:30 at Realty Executives Home Towne!
Call or text your RSVP to Lisa at 586-914-5031 or Kathy at 586-770-2248.

08/14/2023

*****30-Year Fixed Mortgage Rate Projections*****
While predicting future mortgage rates remains challenging, and recent forecasts have often missed the mark, here’s where 8 leading research firms expect rates in Q4 2023 and beyond.

• The MBA: The trade group projects that the 30-year fixed mortgage rate will average 5.9% in Q4 2023. Beyond this year, the group expects mortgage rates to slide to 4.9% by Q4 2024.
• Morningstar: Economists at Morningstar project that the average 30-year fixed mortgage rate will average 6.25% in 2023, 5.0% in 2024, and 4.0% in 2025.
• Goldman Sachs: The investment bank projects that the 30-year fixed mortgage rate will end 2023 at 6.4%. In 2024, Goldman Sachs expects the 30-year fixed mortgage rate will average 5.9%.
• The National Association of Realtors: Economists at NAR forecast that the 30-year fixed mortgage rate will slide to 6.4% before the end of 2023, and then to 6.0% in 2024.
• Morgan Stanley: The Agency MBS strategists at Morgan Stanley project that the 30-year fixed mortgage rate will start 2024 at 6.0%.
• Moody’s Analytics: The financial intelligence arm of Moody’s still projects that the 30-year fixed mortgage rate will average 6.5% through most of 2023.
• Realtor.com: Economists at the home listing site believe the 30-year fixed mortgage rate will start 2024 at 6.1%.
• Fannie Mae: Economists at Fannie Mae forecast that the 30-year fixed mortgage rate will average 6.6% in Q4 2023. Then Fannie Mae expects mortgage rates to grind down to an average of 5.9% in Q4 2024. For the calendar year, Fannie Mae expects mortgage rates to average 6.1% in 2024.

08/14/2023

MSHDA rate increase effective 8/4/2023!

02/28/2023

FHA is reducing the cost of their monthly mortgage insurance effective March 20th, 2023! Have questions? Contact me at 248-833-5161!

02/22/2023

Big news! This morning the Federal Housing Administration (FHA) announced a 30 basis point reduction in the annual premium charged to mortgage borrowers. The cut will result in mortgage insurance premiums (MIP) of 55 bps for most borrowers, down from 85. What does this mean in plain English? Lower monthly mortgage insurance equates to a lower monthly mortgage payment for FHA loans!

HUD No. 23-041 HUD Public Affairs (202) 708-0685 FOR RELEASE Wednesday February 22, 2023 BIDEN-HARRIS ADMINISTRATION TO SAVE FHA HOMEBUYERS AVERAGE $800 ANNUALLY ON MORTGAGE PAYMENTS THROUGH PREMIUM REDUCTION 30 basis point reduction in FHA annual mortgage insurance premium supports Biden-Harris Adm...

12/08/2022

⬇️RATE DECREASE ALERT⬇️
Need down payment assistance?
MSHDA decreased their rates!

Effective tomorrow, December 9th, MSHDA is decreasing their rates for their MI Home Loan Program!!

MI Home Loan no DPA 5️⃣.8️⃣7️⃣5️⃣% APR 5.989%

MI Home Loan with up to $7,500 DPA 6️⃣.3️⃣7️⃣5️⃣% APR 6.493%

MI Home Loan up to $10,000 DPA 6️⃣.3️⃣7️⃣5️⃣% APR 6.493%

☎️Call to see if you qualify!
(248) 833-5161