In the last week rates have dropped below 6%. Mortgage applications in the last week have risen because of the better rates. It is a great time for people who bought last year. Many people that bought last year have rates over 6% and now is a great time. You may be eligible for a no-cost loan or you may just be able to lower your payment.
Also if you have an adjustable rate that is due to expire, it may be the time to look at refinancing. It is a time to think about refinancing your adjustable rate. The bottom line is look at both the costs, the payment, and the APR. For more on Michigan mortgages feel free to go to my website www.russravary.com
My website is full of useful information on Michigan real estate, search Oakland County real estate, Start your Michigan Condo Search, buyers tips.
Have a great night and feel free to contact me with any mortgage or real estate questions.
Russ Ravary
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