John Higgins's Blog

MMG Weekly | 11.28.2022

A Look Into the Markets A little history about the Thanksgiving Holiday: Sarah Joseph Hale campaigned for a national Thanksgiving in the United States during the 19th century, eventually winning President Abraham Lincoln's support in 1863. He and subsequent presidents proclaimed a National...

MMG Weekly | 11.21.2022

A Look Into the Markets This week, interest rates touched the lowest levels in two months on the idea that inflation may have peaked. Let's break down what happened and look into Thanksgiving Week. 0-yr Note Touches 3.67% The 10-yr Note yield touched 3.67% this week, a large rate improvement...

MMG Weekly | 11.14.2022

A Look Into the Markets This week, interest rates moved a bit sideways after Election Day and only added to the uncertainty as ballots continue to be counted. Let's discuss what happened and look into the week ahead. Consumed By Uncertainty It has been nearly a year since the Federal...

MMG Weekly | 11.7.2022

A Look Into the Markets This week interest rates revisited 2022 highs in response to the Fed meeting, where the Federal Reserve raised the Fed Funds Rate by .75%. Let's discuss what happened and investigate the week ahead. "It's very premature in my view to be thinking about or...

MMG Weekly | 10.31.2022

A Look Into the Markets This past week we watched interest rates improve nicely on the notion that central banks around the globe will be hiking rates less going forward. Let's break down what happened this week as we approach the important Fed meeting next Wednesday. "We've made...

MMG Weekly | 10.24.2022

A Look Into the Markets This past week we watched the 10-year yield hit a fresh 14-year high, closing above 4.00%. As a result, home loan rates also ticked higher. Let's discuss what happened and investigate the week ahead. Inflation Is High Everywhere Global yields continue to push...

MMG Weekly | 10.17.2022

A Look Into the Markets This past week, we witnessed the highest consumer inflation reading in 40 years and the markets responded. Let's walk through what happened and investigate the week ahead. Consumer Prices Still Rising On Thursday, the Personal Consumption Index (CPI) was reported...

MMG Weekly | 10.10.2022

A Look Into the Markets This past week, a leading indicator of labor market health was reported ugly, which helped stocks and bonds perform well. However, we still witnessed some incredible volatility and uncertainty thanks to more Fed member speeches. Let's walk through what happened and...

MMG Weekly | 10.3.2022

A Look Into the Markets This past week, we watched the sharpest one-day decline in Treasury rates since 2008. The rate relief was relatively short-lived as uncertainty and volatility reign supreme in the financial markets. Let's recap what happened and investigate the big news in the week...

MMG Weekly | 9.26.2022

A Look Into the Markets This past week, the Federal Reserve raised the Fed Funds Rate by .75% and issued its quarterly economic projections. In response, home loan rates ticked up to a new 2022 high. Let's discuss three things we learned from the Fed Meeting and what to watch in the weeks...

MMG Weekly | 9.19.2022

A Look Into the Markets This past week, we saw some surprisingly hot inflation numbers which hurt the financial markets and pushed rates to the highest levels of 2022. Let's walk through what happened and look into the week ahead. Inflation Remains High Last Tuesday the Consumer Price...

MMG Weekly | 9.6.2022

A Look Into the Markets The financial markets had a rough week, with stocks falling and rates spiking since Fed Chair Powell spoke in Jackson Hole last Friday. Let's walk through what happened and look into the week ahead. Pain It Is "While higher interest rates, slower growth,...

MMG Weekly | 8.29.2022

A Look Into the Markets August has not been kind to bonds and interest rates. Even though the Federal Reserve did not hold a meeting in August and is not slated to raise rates again until the end of September, long-term rates moved higher. Let's break down what happened and look into the week...

MMG Weekly | 8.22.2022

A Look Into the Markets For the past couple of weeks, interest rates remained within a range and haven't moved higher or lower, seemingly waiting for the next big market event. That event could be next week as Central Bankers around the globe and our Fed Chair Jerome Powell are set to speak...

MMG Weekly | 8.15.2022

A Look Into the Markets This past week an important reading on consumer inflation showed that we might have seen inflation peak in July. In response, the financial markets celebrated with stocks shooting higher and long-term rates ticking lower from the previous week's highs. The highly...

MMG Weekly | 8.8.2022

A Look Into the Markets This week home loan rates continued to gradually improve since the Fed hiked rates by .75% in both June and July. The elevated chance of a recession and the Fed hiking rates into the slowing economy has pushed rates to the best levels since April. Let's break down what...

MMG Weekly | 8.1.2022

A Look Into the Markets The Federal Reserve raised the Fed Funds Rate by .75% in a widely expected move while home loan rates continue to be well off the highest levels in June. Let's discuss what the Fed Chair Powell said in his press conference and what it means going forward. Boom The...

MMG Weekly | 7.25.2022

  A Look Into the Markets The quiet before the storm. This past week, Fed officials were literally "quiet" with no speeches ahead of next week's Fed Meeting where a .75% rate hike is widely expected. Let's discuss what will be an important week ahead. Another Big Fed...

MMG Weekly | 7.18.2022

A Look Into the Markets This past week we experienced a couple of soaring inflation numbers which has injected new uncertainty surrounding inflation peaks, Fed rate hikes and the likelihood of a recession. Let's discuss what happened and what to watch for in the coming weeks. Consumer Prices...

MMG Weekly | 6.27.2022

A Look Into the Markets This past week Federal Reserve Chair Jerome Powell delivered his semi-annual testimony to Congress on Capitol Hill. Let's walk through what the Chair said and how the financial markets reacted as well. "At the Fed, we understand the hardship high inflation is...

MMG Weekly | 6.20.2022

A Look Into the Markets This past week, the Federal Reserve raised the Federal Funds Rate by .75%, the first such hike since 1994. Let's walk through what the Fed said and how the financial markets reacted heading into the weekend. "Clearly, today's 75 basis point increase is an...

MMG Weekly | 6.13.2022

A Look Into the Markets This past week, home loan rates increased slightly from the previous week as we are just a couple of days away before the next Fed Meeting. Let's walk through what happened and discuss what to look for in the week ahead. As we approach the highly anticipated Fed...

MMG Weekly | 6.6.2022

A Look Into the Markets Home loan rates increased slightly from the previous week as we are just a couple of weeks before the next Fed meeting. Let's walk through what happened and discuss what to look for in the week ahead. "As I will explain, this very tight labor market has implications...

MMG Weekly | 5.23.2022

A Look Into the Markets This past week, home loan rates improved slightly in response to growing fears of a recession. Let's walk through what happened and discuss what to look for in the week ahead. "What we need to see is inflation coming down in a clear and convincing way, and we're...

MMG Weekly | 5.16.2022

A Look Into the Markets This past week, home loan rates bounced around in a volatile fashion in response to more of the same...Fed speaks, inflation readings, and uncertainty. Let's walk through what happened and discuss what to look for in the week ahead. "Although the task is difficult,...

MMG Weekly | 5.9.2022

A Look Into the Markets This past week, the Federal Reserve hiked the Fed Fund Rate by .50%, the largest rate increase in 22 years. Let's discuss what other action the Fed took, how the market reacted and what to look for in the week ahead. "I would like to first speak to the American...

MMG Weekly | 5.2.2022

A Look Into the Markets This past week was a bit quiet as no Federal Reserve officials were talking to move the market. However, this changes next week, as we approach the highly anticipated FOMC (Federal Open Market Committee) Meeting. Let's discuss what to look for as we wait on the Fed. This...

MMG Weekly | 4.18.2022

A Look Into the Markets This past week, home loan rates hit the highest levels in nearly a decade as inflation readings came in touching 40+ year peaks. Let's discuss what happened and what to watch for next week. Headline Consumer Inflation vs Core Consumer Inflation Interest rates...

MMG Weekly | 4.11.2022

A Look Into the Markets This past week, home loan rates touched the highest levels in three years in response to the same theme…inflation fears and forthcoming Fed rate hikes, and balance sheet reduction. Let's discuss what happened and what to watch for next week. "Given that...

MMG Weekly | 4.4.2022

A Look Into the Markets This past week, home loan rates improved from the worst levels in three years. Let's walk through what happened this week and talk about what to watch in the weeks ahead. 1) Ukraine/Russia Showing Optimistic Signals Early in the week, there was word that...

MMG Weekly | 3.28.2022

A Look Into the Markets Home loan rates ticked up to fresh three-year highs as a parade of Federal Reserve officials spoke throughout the week about the need to hike rates more aggressively to combat inflation. Let's walk through what happened this week and talk about the big reports coming...

MMG Weekly | 3.21.2022

A Look Into the Markets Interest rates hover near three-year highs as the Federal Open Market Committee (FOMC) raised the Federal Funds Rate by 0.25%. This was the first rate hike in three years. Let's break down what the Fed said in their Statement and press conference and look at what the...

MMG Weekly | 3.14.2022

A Look Into the Markets Interest rates ticked up this week, despite the ongoing and uncertain Russia/Ukraine war. Let's break down what happened this week as we prepare for an important Fed meeting next week. This is probably a good week to remind everyone that inflation is an economic...

MMG Weekly | 3.7.2022

A Look Into the Markets Interest rates retreated from 2019 peaks as the Ukraine invasion by Russia escalates and grows more uncertain. However, there were other big developments here at home that erased a good portion of the rate improvement. Let's break down what happened and what to look...

MMG Weekly | 2.28.2022

Interest rates improved slightly this week in response to the Russian invasion of Ukraine. This story is evolving every moment and the current uncertainty is helping bonds and rates.

Mortgage In a SNAP - Revolutionizing Mortgage PreApprovals

Right now you can determine your eligibility for a mortgage based on your specific situation instantly with The Mortgage 1 Team’s “Mortgage in a SNAP.”

MSHDA Mortgage Credit Certificate

Mortgage Credit Certificate   The Michigan State Housing Development Authority’s (MSHDA) Mortgage Credit Certificate (MCC) is a federal tax credit issued in connection with the purchase of a home. This allows homebuyers to credit 20% of the annual mortgage interest paid against their...

FHA Mortgage Limits for 2018

The Federal Housing Administration (FHA) announced Thursday, December 6, 2017 that the maximum mortgage limits will be increased for loans across the country.  These new loan limits will take effect for FHA Case Numbers issued on or after January 1st, 2018. State of Michigan FHA Mortgage...