Michigan Mortgage News

When buyers evaluate a mortgage, they focus heavily on qualification numbers. Income, debts, credit scores, and approval amounts dominate the conversation. Pre-approval letters feel like the finish line. But there is another factor that often gets ignored, and it carries just as much weight over time. Emotional affordability.

In an unexpected turn, the Consumer Price Index (CPI) showed that inflation came in cooler than expected for the month of January, falling to a five-year low. The jobs report showed that unemployment numbers came in worse than expected, perhaps signaling further hesitation from the Federal Reserve, despite inflation data coming in favorably.

Homeownership does not begin with a signed contract or a set of keys. It begins quietly; through the financial habits you build long before buying a home feels real. Many consumers assume the homebuying process starts when they are ready to shop, but everyday choices made months or years earlier often determine what options are available later.