Mortgage rates surged again today after the Consumer Price Index (CPI) was higher than expected. If you are shopping for your new home, be sure to check with your mortgage professional to see how the recent rate increases have changed your payment and amount you qualify for. Also, keep in mind that lenders will continue to try and show lower mortgage rates due to the recent spikes. Be sure to ask (or read the fine print) whether or not you are paying points to buy down the interest rate. Obtaining a written estimate is best to see the breakdown of all the costs and interest rate.
If you have questions about Michigan mortgage rates or would like a customized quote please contact me.
See how much you qualify for and what loan options best fit your personal needs, by visiting my pre-qualification page at www.LoanJim.com/PreQualify.