The Mortgage 1 Team's Blog

MMG Weekly | 8.8.2022

A Look Into the Markets This week home loan rates continued to gradually improve since the Fed hiked rates by .75% in both June and July. The elevated chance of a recession and the Fed hiking rates into the slowing economy has pushed rates to the best levels since April. Let's break down what...

MMG Weekly | 8.1.2022

A Look Into the Markets The Federal Reserve raised the Fed Funds Rate by .75% in a widely expected move while home loan rates continue to be well off the highest levels in June. Let's discuss what the Fed Chair Powell said in his press conference and what it means going forward. Boom The...

MMG Weekly | 7.25.2022

  A Look Into the Markets The quiet before the storm. This past week, Fed officials were literally "quiet" with no speeches ahead of next week's Fed Meeting where a .75% rate hike is widely expected. Let's discuss what will be an important week ahead. Another Big Fed...

MMG Weekly | 7.18.2022

A Look Into the Markets This past week we experienced a couple of soaring inflation numbers which has injected new uncertainty surrounding inflation peaks, Fed rate hikes and the likelihood of a recession. Let's discuss what happened and what to watch for in the coming weeks. Consumer Prices...

MMG Weekly | 6.27.2022

A Look Into the Markets This past week Federal Reserve Chair Jerome Powell delivered his semi-annual testimony to Congress on Capitol Hill. Let's walk through what the Chair said and how the financial markets reacted as well. "At the Fed, we understand the hardship high inflation is...

MMG Weekly | 6.20.2022

A Look Into the Markets This past week, the Federal Reserve raised the Federal Funds Rate by .75%, the first such hike since 1994. Let's walk through what the Fed said and how the financial markets reacted heading into the weekend. "Clearly, today's 75 basis point increase is an...

MMG Weekly | 6.13.2022

A Look Into the Markets This past week, home loan rates increased slightly from the previous week as we are just a couple of days away before the next Fed Meeting. Let's walk through what happened and discuss what to look for in the week ahead. As we approach the highly anticipated Fed...

MMG Weekly | 6.6.2022

A Look Into the Markets Home loan rates increased slightly from the previous week as we are just a couple of weeks before the next Fed meeting. Let's walk through what happened and discuss what to look for in the week ahead. "As I will explain, this very tight labor market has implications...

MMG Weekly | 5.23.2022

A Look Into the Markets This past week, home loan rates improved slightly in response to growing fears of a recession. Let's walk through what happened and discuss what to look for in the week ahead. "What we need to see is inflation coming down in a clear and convincing way, and we're...

MMG Weekly | 5.16.2022

A Look Into the Markets This past week, home loan rates bounced around in a volatile fashion in response to more of the same...Fed speaks, inflation readings, and uncertainty. Let's walk through what happened and discuss what to look for in the week ahead. "Although the task is difficult,...

MMG Weekly | 5.9.2022

A Look Into the Markets This past week, the Federal Reserve hiked the Fed Fund Rate by .50%, the largest rate increase in 22 years. Let's discuss what other action the Fed took, how the market reacted and what to look for in the week ahead. "I would like to first speak to the American...

MMG Weekly | 5.2.2022

A Look Into the Markets This past week was a bit quiet as no Federal Reserve officials were talking to move the market. However, this changes next week, as we approach the highly anticipated FOMC (Federal Open Market Committee) Meeting. Let's discuss what to look for as we wait on the Fed. This...

MMG Weekly | 4.18.2022

A Look Into the Markets This past week, home loan rates hit the highest levels in nearly a decade as inflation readings came in touching 40+ year peaks. Let's discuss what happened and what to watch for next week. Headline Consumer Inflation vs Core Consumer Inflation Interest rates...

MMG Weekly | 4.11.2022

A Look Into the Markets This past week, home loan rates touched the highest levels in three years in response to the same theme…inflation fears and forthcoming Fed rate hikes, and balance sheet reduction. Let's discuss what happened and what to watch for next week. "Given that...

MMG Weekly | 4.4.2022

A Look Into the Markets This past week, home loan rates improved from the worst levels in three years. Let's walk through what happened this week and talk about what to watch in the weeks ahead. 1) Ukraine/Russia Showing Optimistic Signals Early in the week, there was word that...

MMG Weekly | 3.28.2022

A Look Into the Markets Home loan rates ticked up to fresh three-year highs as a parade of Federal Reserve officials spoke throughout the week about the need to hike rates more aggressively to combat inflation. Let's walk through what happened this week and talk about the big reports coming...

MMG Weekly | 3.21.2022

A Look Into the Markets Interest rates hover near three-year highs as the Federal Open Market Committee (FOMC) raised the Federal Funds Rate by 0.25%. This was the first rate hike in three years. Let's break down what the Fed said in their Statement and press conference and look at what the...

MMG Weekly | 3.14.2022

A Look Into the Markets Interest rates ticked up this week, despite the ongoing and uncertain Russia/Ukraine war. Let's break down what happened this week as we prepare for an important Fed meeting next week. This is probably a good week to remind everyone that inflation is an economic...

MMG Weekly | 3.7.2022

A Look Into the Markets Interest rates retreated from 2019 peaks as the Ukraine invasion by Russia escalates and grows more uncertain. However, there were other big developments here at home that erased a good portion of the rate improvement. Let's break down what happened and what to look...

MMG Weekly | 2.28.2022

Interest rates improved slightly this week in response to the Russian invasion of Ukraine. This story is evolving every moment and the current uncertainty is helping bonds and rates.

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MSHDA Mortgage Credit Certificate

Mortgage Credit Certificate   The Michigan State Housing Development Authority’s (MSHDA) Mortgage Credit Certificate (MCC) is a federal tax credit issued in connection with the purchase of a home. This allows homebuyers to credit 20% of the annual mortgage interest paid against their...

FHA Mortgage Limits for 2018

The Federal Housing Administration (FHA) announced Thursday, December 6, 2017 that the maximum mortgage limits will be increased for loans across the country.  These new loan limits will take effect for FHA Case Numbers issued on or after January 1st, 2018. State of Michigan FHA Mortgage...