Drew's Mortgage News

A record drop in home prices combined with record low mortgage rates, may result in 2009 being the best time to buy a home since the Great Depression.  January 31, 2009 -- BLOOMFIELD, MI - With record drops in home prices (from their peaks) combined with record low interest rates, 2009 may go dow...

Changes in mortgage guidelines are occurring at a record pace.  Many in the industry are not keeping up, causing painful lessons for consumers. January 24, 2009 -- BLOOMFIELD, MI - Most consumers have come to believe all that matters in getting a mortgage is shopping for the lowest rate & closing...

Mortgage rates should be lower than they are. Why are banks smiling about this? January 17, 2009 -- BLOOMFIELD, MI - On November 25th of 2008, the Federal Reserve announced a program to reduce the cost and increase the availability of credit for the purchase of houses.  Over several quarters, the...

News stories are only covering half the facts on falling interest rates, creating unrealistic consumer expectations. January 11, 2009 -- BLOOMFIELD, MI - Everywhere you turn today is news about how low mortgage interest rates have fallen.  Whether newspapers or internet, you can find coverage on ...

What are the chances of repeating last year's actions and getting better results? January 3, 2009 -- BLOOMFIELD, MI - What a challenging ride the year 2008 was.  A worsening mortgage meltdown, the nationwide decline of real estate values, lack of credit liquidity causing a banking bailout, a bail...