housing market

housing market

Housing Market Update Friday September 19th with AmeriFirst Home Mortgage

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Welcome to your Housing Market Update with AmeriFirst Home Mortgage. I’m your host Dan Moyle. Today is Friday September 19-th... This week in housing… is the housing market “too regulated to succeed?” A commentary in The Federalist recently dove into how the government is a little to “hands-on” in the housing market right now. The writer Erik Telford is with The Franklin Center for Government & Public Integrity. That organization focuses its journalists on overseeing the reporting on our government. So Telford spends a lot of time focusing on D-C. He says in the article that the government needs to let mortgage investment entities Freddie Mac and Fannie Mae do their thing in the market, and quit trying to run them through the Treasury Department. Telford says the move by the government to continue to meddle and sell off major parts of these G-S-Es is like the administration telling shareholders of McDonalds they need to sell their stocks. The article has some strong opinions and a focused point of view. For a look at the AmeriFirst opinion on this, we talked to AmeriFirst Home Mortgage president and co-founder Mark A. Jones on what this means to him and to the average home buyer. [MARK SOT] *# Thank you Mark for those insights. Now to a local housing market in the AmeriFirst Home Mortgage family… this week I talked to Kalamazoo branch manager Sandra Cartwright about how the market is for southwest Michigan home buyers. In August, more than 50 local families got the chance to finance their home buying dreams with the Kalamazoo branch. Sandra says the summer was a great market for home buyers as they found fixer uppers and good deals from South Haven to Kalamazoo, from Three Rivers to Allegan. Looking at overall numbers for the year, the Kalamazoo branch is strong with purchase business, meaning people are buying homes around the area, not just refinancing. The refi-boom is essentially over, as interest rates have crept up from the bottom a bit. They’re still very low, but not as low as they were a year ago. Basically, if you haven’t refinanced to get into a lower rate, you’re probably already set. This means the Kalamazoo area housing market is strong. That’s good for the economy, for sellers and for buyers. One note from Sandra – a very popular loan option for southwest Michigan home buyers has been the USDA rural development loan. It’s a mortgage that doesn’t require a down payment – helpful to a LOT of buyers. The caveat to the loan is that the home must be in a particular area considered “rural.” But that doesn’t mean it’s a farm. USDA considers a lot of smaller towns, villages and communities rural. Pretty interesting. *# That’s your housing market update with AmeriFirst Home Mortgage for Friday September 19-TH. Be sure to subscribe to our channel to get your weekly update and more, each week. I’m Dan Moyle, and I’ll see you next time. Reference link: http://thefederalist.com/2014/09/09/housing-market-not-too-big-to-fail-but-too-regulated-to-succeed/ Branch link: http://www.amerifirst.com/michigan#kalamazoo AmeriFirst Home Mortgage 950 Trade Centre Way, Suite 400 Kalamazoo, Michigan 49002 AmeriFirst Home Mortgage is a home buyer’s resource center and community mortgage banker. We focus on educating homeowners and home buyers in the details of the housing market and more. AmeriFirst Home Mortgage is a division of AmeriFirst Financial NMLS ID 110139 | Equal Housing Lender