Michael Bolinger, NMLS# 2024862 CIBM Mortgage

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Indianapolis, IN
Michael Bolinger, NMLS# 2024862 CIBM Mortgage

CIBM Mortgage is a division of CIBM Bank, NMLS # 2024862. Equal Housing Lender. Member FDIC

An Integral resource devoted to help you, your friends and family with the the BEST options, rates and service for all your
Mortgage needs!

09/30/2026

The Right Home May Not Wait for Lower Rates—Secure the Home You Want Today and Explore Refinancing if Rates Improve Later

02/14/2024

Looking to buy a home? A mortgage pre-approval letter will let you know how much you can afford and reassure sellers that you can close the deal. Reach out, and let's get started on yours. CIBM Mortgage is an Equal Housing Lender.

11/06/2023

When selling your home, remember YOU are paying both Realtors Commission Fees! Make sure you negotiate these fees up front. Especially if you are using the same realtor for selling your home and buying your new home. Read below: change is coming and call me with any mortgage questions or solutions.

Missouri Jury Convicts Realtors and Brokerages of Commission Inflation Conspiracy

A Kansas City jury has found the National Association of Realtors, HomeServices of America, and Keller Williams guilty of colluding to inflate commission rates through NAR's Clear Cooperation Rule. The defendants have been ordered to pay $1.78 billion in damages, which could potentially reach $5.36 billion with triple damages. This verdict may lead to similar lawsuits in other states. The jury's decision came after two weeks of testimony, in which the plaintiffs argued that the defendants knowingly violated their own antitrust rules to maintain high commission rates.

Judge Stephen Bough is yet to issue his final judgment, which could include banning the cooperative compensation rule nationally or keeping certain elements while requiring a minimum offer in "cooperative compensation." RE/MAX and Anywhere settled in this suit, with both companies promising to appeal the ruling. The verdict may impact the real estate market, making it more challenging for buyers and sellers and potentially leading to changes in the industry's practices.

07/27/2023

FYI Mortgage Rates Changing again! Call me with any questions or details.

The Federal Funds Target Rate range was increased 25 basis points from a range of 5.00%-5.25% to a range of 5.25-5.50% effective today. The fed commented they will continue to assess the lagged responses on the economy, hiring and inflation from both past monetary tightening actions and the tighter credit conditions in the economy to determine what, if any, additional actions to take in the foreseeable future. At this time fed funds rate futures pricing suggests a 50% chance that 1 more rate increase will occur before the end of 2023 and that the federal funds rate will begin to decline in 2024.

06/19/2023

I get asked many times a week "What is the current mortgage rate to buy a new home and the housing market?" that answer does vary day by day. So, I wanted to share this excerpt with everyone in my network about the current rates and where the housing market is trending.

Increased Mortgage Demand as Rates Ease

For the second week in a row, mortgage rates declined from their previous highs, which triggered demand from current and aspiring homeowners. Compared to the prior week, the number of mortgage applications increased by 7.2%, according to the Mortgage Bankers Association. More applications for loans with a 20% down payment were received due to the average interest rate for 30-year fixed-rate mortgages dropping to 6.77% with a modest decline in points.

Refinance applications increased by 6% from the previous week, although they were still much lower than they had been at the same time last year. Despite the decreased rates, some borrowers choose not to refinance because mortgage rates are still over a percentage point higher than a year ago. House purchase applications increased by 8% for the week but were still 27% fewer than in the same period last year.

Higher rates than last year and a low supply of homes have been cited as reasons for restricting home-buying activity. Mortgage rates could be affected by the Federal Reserve's policy meeting and revised rate projections in the upcoming week, with expectations of increased pressure if the Fed signals more rate hikes in 2023.

Please reach out to me with any additional questions and once again thank you for your trust and allowing me to help you out with your next mortgage needs.

Address

5645 Castle Creek Parkway
Indianapolis, IN
46250

Website

https://www.cibmmortgage.com/

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