David Crisp's (dcrisp) Blog

 Rate Watch - Freddie Mac reported on Dec. 14 that 30-year fixed-rate mortgages averaged 6.12%, up from 6.11% two weeks back. 15-year loan rates increased from 5.86% from 5.84%.  With mortgage rates remaining near their lowest levels, exotic mortgage borrowers are now jumping into the safety of f...

According to data from Loan Performance, one in three homeowners refinancing today is choosing the financially riskier Interest Only and payment options ARM's loans.  For years I have provided both loans to my clients.  I love interest only loans for financially responsible people.  I like the id...

  Rate Watch - For the week ended Dec. 8 the 30-year fixed rate rose to 6.02% from 5.98% last week.  Fixed 15-year mortgage rates decreased from 5.75% to 5.66%.----Economic and Market Watch Report - (Based on information from the Ann Arbor Area Board of Realtors Multiple Listing Service for the p...

Well the government finally got this one right.  Starting in 2007 PMI and/or mortgage insurance will be tax deductible for people with incomes under $100,000.  This can be a real cash savings for those who buy a home in 2007 using a loan that has PMI (mortgage insurance).  This law has been neede...

More and more of my clients in the Ann Arbor area are buying homes with no down payment loans.  In the 1990's it was very rare for someone to buy a home in Washtenaw County without some sort of down payment (except for VA loans which always offered a no down payment loan).  In 1996 we were able t...

Mortgage News You Can Use!! Rate Watch - Mortgage rates fell for the fifth consecutive week, sending rates to the lowest level in nearly a year. For the week ending Nov. 30th, 30-year fixed rates averaged 6.14%, down from 6.18% the previous week.  A year ago 30-year rates were at 6.26%. All eyes ...