Michael Deery's (michaeldeery) Blog

The FHA have just announced they are going to increase buyers mortgage insurance "MI" payments AGAIN on April 18th by .25%. This is now the 2nd increase in just the last 7 months, as they also hiked MI payments last October. This will mean another significant increase in a new buyers overall mort...

Should you buy now or wait another 12-18 months to buy? That is a decision that many buyers in the market are facing today. As many experts are advising that housing values are already in or are going into a double dip soon, it is a fair argument that buyers want to hold off on buying right now. ...

Did you know the $8k Federal home buyer tax credit is still available for some VA buyers until June 30th 2011? I have been surprised by how many Agents and VA buyers I have talked to recently who were not aware this tax credit extension still exists. This presents a great opportunity for any VA b...

With rates jumping from 4% to 5% in just over a few months, it might be fair to say we may have hit bottom in the housing market when factoring in what the overall cost is to buy a home? Because did you know that with every 1% rise in rates, the buyer loses 10% in purchasing power. It is now very...

What do you say when someone asks "Why are interest rates going up so fast"" or "Where do you see interest rates in a few months if I choose to wait to buy"? Mortgage rates are a very hot topic right now, especially as they have spiked up over 5% again after being as low as 4% a few months ago. B...