Category: home loans in michigan

Three of the Latest Reports Show Housing Market Is Strong

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Three of the Latest Reports Show Housing Market Is Strong The residential Metro Detroit Michigan real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one. 1. Ivy Zelman’s Real Estate Broker … Continued

Home Sales Hit a Record-Setting Rebound

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Home Sales Hit a Record-Setting Rebound With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to … Continued

Mortgage Rates Hit Record Lows for Three Consecutive Weeks

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this … Continued

What Are Experts Saying about Home Prices?

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What Are Experts Saying about Home Prices? Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which … Continued

What Are Experts Saying About the Rest of 2020?

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What Are Experts Saying About the Rest of 2020? One of the biggest questions on everyone’s minds these days is: What’s going to happen to the Metro Detroit Michigan housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for … Continued

Is the Economic Recovery Already Underway?

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Is the Economic Recovery Already Underway? The Wall Street Journal just released their latest monthly Survey of Economists. In an article on the findings, they reported: “The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects … Continued

Three Reasons Homebuyers Are Ready to Purchase This Year

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Three Reasons Homebuyers Are Ready to Purchase This Year A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move … Continued

Real Estate Tops Best Investment Poll for 7th Year Running

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Real Estate Tops Best Investment Poll for 7th Year Running Every year, Gallup conducts a survey of Americans to determine their choice for the best long-term investment. Respondents are asked to select real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds. For the seventh year in a row, real estate has come out on top as the best long-term … Continued

Real Estate Will Lead the Economic Recovery

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Real Estate Will Lead the Economic Recovery With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work … Continued

The Shocking News in the Unemployment Report

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The Shocking News in the Unemployment Report Last Friday, the U.S. Bureau of Labor Statistics released their May Employment Situation Summary. Leading up to the release, most experts predicted the unemployment rate would jump up to approximately 20% from the 14.7% rate announced last month. The experts were shocked. The Wall Street Journal put it this way: “The May U.S. jobless rate … Continued
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