What Makes Michigan Refinancing Rates Change?
Published April 22, 2010 | 
Here is a great video I found that discusses how and why mortgage interest rates move, or change. This video will help you understand why your Michigan refinancing options, will fluctuate with market conditions, until you lock in your mortgage interest rate.
They did a really good job explaining the basic outline of the mortgage securitization process and mortgage bond pricing, which is what ultimately affect your Michigan refinance mortgage rates.
Candlestick charts are also introduced, which are the preferred method to watch and track mortgage bond movement by many professionals.
This video explains that when bond prices increase, mortgage rates decrease and talks about how the converse relationship is also true. The reality is that Mortgage bond prices change and the mortgage rates, actually follow the prices.
It also clarifies the relationship between the 10 year Treasury bonds and the Mortgage backed securities (mortgage bonds) and how to predict which direction mortgage rates may be headed.
This video is only about 7 minutes long, but it will answer the basics to the question of What Makes Michigan Refinancing Rates Change?
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How Do I Know That I am Working With a Properly Licenced Michigan Loan Officer?
Published March 17, 2010 | When you begin your Michigan refinancing project, it is highly recommend that you verify your Michigan loan originator’s credentials, as well as the company he or she works for.
Here are a few resources to help you check out the loan originator you are thinking of helping you with your Michigan refinancing.
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National Mortgage Licensing System (NMLS) – Check for Licensing (Individual and Company)
With the implementation of the S.A.F.E. Act of 2008, every loan originator / loan officer and mortgage company must be registered with the national mortgage licensing and registry system. There are some variations, but the loan originator working on your Michigan refinancing should be at least registered on the national system.
Click the link below to begin your search.
National Mortgage Licensing System (NMLS) Consumer Site Link
Link: http://www.nmlsconsumeraccess.org/
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State of Michigan – Check for Licensing ( Company)
State of Michigan Company Search Link
Link: http://www.dleg.state.mi.us/fis/ind_srch/ConsumerFinance/Search.asp
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Better Business Bureau – Check the Company Rating (Company)
Better Business Bureau Search Link
Link: http://www.bbb.org/us/
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When you are considering your Michigan refinancing options,it only makes sense to verify that the person you are working with is properly licensed and has passed all of the criminal background checks, as well as met the minimum standards set by the regulators.
If you have further questions about Michigan refinancing, and Michigan mortgage licensing requirements, please leave a comment below or contact me.
