• Southeast Michigan Home Values Continue to Rise

  • UPDATE: New Case-Shiller Home Price Index numbers were released showing a 18.5% gain in housing prices in Metro Detroit for March over 2012 numbers.  Many homeowners are now finding themselves having equity on their home and are considering selling or refinancing their home. Call First Commerce Financial to know the options you have available to you and to see what your home may be worth now 248-912-1000.

    18 Months of Home Value Growth Has Opened Up Refinance Options for Michigan Homeowners

    Rising Home Values in Michigan have brought many homeowners out from being underwater, and opened up great refinancing opportunities!It is no surprise that the home values continue to rise here in Southeast Michigan. This trend has been going on for over 18 months now and does not appear to be stopping anytime soon.

    We have witnessed strong home buyer confidence lately which has dwindled the inventory of homes available and as a result, significant appreciation has taken place.

    Fewer Michigan Homeowners Are Underwater – Refinancing an Appealing Option

    The secret that most folks don’t even realize is that they now have the ability to refinance their mortgage and take advantage of the following:

    • Reduce or eliminate the Private Mortgage Insurance (PMI)
    • Allow you to refinance without using HARP 2.0
    • Cash-out Refinance options now available – access up to 85% of the value of your home
    • Reduce your term for long term interest savings – 15 Year Fixed hit lowest levels ever this week

    We speak to many folks that think they are “stuck” because their home is underwater. The negative press that took place during the recession and the auto industry collapse has left many folks numb and stuck in 2008.

    How Refinancing Can Fit Into Your Budget

    The 30 year fixed is a wonderful option for most folks who are trying to keep the household budget in check. Check out our current rates and use the Mortgage Calculator to see what happens to your payment.

    If you would like a free, personalized rate quote, please fill out the fast & easy Select Your Rate form on the right!

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