The following is a listing of all home transfers in Metro Detroit reported from Sept. 23 to Sept. 29. There were 11 transactions posted during this time. During this period, the median sale for the area was a 1,

The interest rate cut that Metro Detroit home buyers were waiting for finally arrived, but experts say it will take a bigger drop to revive the sluggish market. The big picture: Local home sales fell more than 11% in August compared with the same time last year,

If you ever thought about refinancing your mortgage, your goal is probably to find a lower interest rate and reduce your monthly payments. After all, most homeowners aren't inclined to trade in their current mortgage rate for a more expensive one.

Key Takeaways - When Should You Refinance an Adjustable-Rate Mortgage? Adjustable-rate mortgage loans grew more popular in 2022 thanks to a record surge in mortgage rates. Favorable short-term introductory rates can make ARMs an attractive option for some homebuyers.