by Alterna Mortgage | Aug 2, 2024 | Financing, Interest rates
The Federal Reserve appears to be very much on track for an interest rate cut in September after a “vast majority” of officials said such an action was likely, according to the minutes of the U.S. central bank’s July 30-31 meeting. Markets are fully...
by Alterna Mortgage | Jul 15, 2024 | Financing, Housing Market, Interest rates, Refinancing
Jerome Powell concluded his visit to Capitol Hill as part of his twice-yearly report on the state of the economy this week. Powell said the risks to the economy have become better balanced, allowing him to broaden his focus beyond getting inflation down. He’s watching...
by Alterna Mortgage | Jul 11, 2024 | Financing, Interest rates, Real Estate, Refinancing
‘We expect rates to continue to come down over the summer months,’ Freddie Mac says. Mortgage rates fell to their lowest level since early April as the U.S. economy showed indications of a slowdown. The 30-year fixed-rate mortgage averaged 6.86% as of June 27,...
by Alterna Mortgage | Jul 10, 2024 | Financing, Refinancing
PMI is typically required when you take out a conventional conforming mortgage and put down less than 20%. Your loan servicer must automatically drop PMI when your mortgage balance reaches 78% of your home’s purchase price. It’s possible to cancel PMI in other cases,...
by Alterna Mortgage | Jun 6, 2024 | Home Buying, Housing Market, Real Estate
Homeownership has slipped out of reach for millions of Americans thanks to the astronomical rise in mortgage rates and an ongoing inventory shortage. Now, there is another obstacle to buying a home. Investors and hedge funds are snatching up properties at the fastest...
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