About Michael
With 30+ years in the mortgage industry, I am currently the Market Growth Manager/Branch Manager at Advisors Mortgage Group in Carmel, Indiana. I am a people person and a team leader helping to boost mortgage professionals earnings & enhance their quality of life. Advisors Mortgage Group’s Greater Indianapolis office offers solutions, not excuses.
I have been recognized by Mortgage Originator Magazine as one of the top 3 mortgage producers in the state of Indiana for 9 straight years and was named one of the 5 most creative mortgage bankers in America by a leading industry publication. My views on various industry topics have been published in USA Today, MSNBC and various other local media outlets.
In line with Advisors’ mantra of Family. Customers. Community, I have established and led the Indiana Region Community Action Committee that assists children, adults and families in need. Its impact on those served and those who serve has been extraordinary.
A special thank you to the mortgage vendors and service providers that I’ve worked with over the past 30+ years. They play a major role in the success of any thriving lender.
To those of you who have entrusted me with your organizations, business, referrals, talent and friendship throughout my career, I am forever grateful.
Licensed in FL, IN
Free guides from Michael
First-Time Buyer Guide
Why own, the 7-step path, the document checklist and the do’s and don’ts — read it here, no download.
Where to find Michael
Michael works out of our Carmel, IN office. Branch NMLS #33041.
What clients say about Michael
10 client reviews
Verified client reviews via Experience.com
Michael made sure I had all of the facts and took time out of his day to answer all of my questions. He made sure that I could get the best loan possible!
Becca was also very communicative and knowledgeable. Great team!
Michael was top notch the whole way and awesome to work with!
Michael Mohr and the entire Advisors Mortgage team were instrumental in getting me into my first home and ensuring that the entire process went smoothly. As someone who had never purchased a house before, it could be an overwhelming experience at times but Michael walked me through each and every step and gave me the confidence I needed. I'm glad to have them in my corner.
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Overall great experiance!
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Great service. I looked using the portal to upload my information. It made me feel like it was safe and secure.
Michael helped us get a mortgage at a great rate and our closing costs were substantially lower than the other financial institutions we included in our search. All the staff we worked with were fantastic with their help and follow up to our questions too.
Michael was very knowledgeable and helped us throughout the whole process!
Latest market updates
The latest PCE inflation report came in cooler than expected, giving both stocks and bonds a boost. Headline inflation rose just 0.3% for the month, while the year-over-year rate fell from 3.7% to 3.4%, better than forecasts. Core inflation, which excludes food and energy, increased only 0.2% and declined from 3.3% to 3.0% annually.
The softer inflation data could reduce pressure on the Federal Reserve to raise rates immediately. New York Fed President John Williams indicated there is no urgency to act following September’s rate hike, although he still expects another increase may be needed later this year.
One area of concern is consumer finances. The savings rate dropped from 4.6% to 4.1%, its lowest level in four years, suggesting consumers continue to spend while saving less.
The inflation report was encouraging for financial markets and showed meaningful progress toward lower inflation, which could help ease some of the upward pressure on interest rates if the trend continues.
Source: MBS Highway
The housing market is shifting in buyers’ favor as more homes become available and competition eases. Redfin reported that,“Sellers outnumbered buyers by 58% in August, the biggest gap in Redfin’s records, driven by a surge in listings and stagnant demand”.
This is the widest gap since Redfin began tracking in 2013. Also interesting is that housing supply reached its highest level in more than a decade, giving buyers more choices and negotiating power.
Affordability remains a challenge, with mortgage rates around 7% and the median existing-home price rising 1.6% year over year. Pending sales and mortgage applications have declined, as high costs and economic uncertainty keep some buyers on the sidelines. Many homeowners are also hesitant to trade their existing low mortgage rates for higher ones.
In some markets, homes are taking longer to sell, prompting sellers to adjust prices and increase marketing efforts. Buyers with substantial cash or home equity are especially well positioned, although the overall sales pace through August remained largely unchanged from last year.
For buyers who are financially ready, greater selection and less competition offer an encouraging opportunity to find a home that fits their needs and budget.
The Federal Reserve raised its benchmark interest rate by 0.25 percentage points, bringing the target range to 3.75%–4.00%. The Fed made the move because they feel that inflation remains elevated, while consumer spending, business investment and the labor market continue to show resilience. Higher rates are intended to slow demand and help return inflation to the Fed’s 2% goal.
Although the Fed does not directly set mortgage rates, its decisions influence the bond market and investors’ inflation expectations. When the Fed hikes rates it can be seen as deflationary since it makes borrowing money more expensive and slows down the movement of money. Bond investors’ arch enemy is inflation so a push from the Fed to fight inflation can garner more attention from investors to purchase more bonds which would help mortgage rates decrease. However, the comments following the policy change put pressure on the bond market since Fed Chair Warsh’s comments were seen as “thin” and he also mentioned inflation is still hanging around.
If inflation cools and the Fed wins the trust of the markets by continuing to fight inflation, we could see rates have a chance to improve, but if the opposite occurs rates could continue their trend and increase more. Oil is also a large factor and if we can get it to drop in price it could also assist mortgage rates to improve.
Source : Federal Reserve
