by Alterna Mortgage | Oct 14, 2024 | Financing, Home Buying, Housing Market, Interest rates, Real Estate
Do they continue to cut the rates? Do they pause? It could go either way. The Federal Reserve on Wednesday September 18th enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort...
by Alterna Mortgage | Aug 24, 2024 | Home Buying, Housing Market, Real Estate
Sales of existing homes broke a four-month slide in July. Prices continued their increase for the 13th straight month with the median national sales figure rising to $422,600. Easing inflation helped accelerate the decline in mortgage rates in mid-July and rates...
by Alterna Mortgage | Aug 6, 2024 | Financing, Home Buying, Interest rates
Some Fed officials said a half-point Fed rate cut in September would become more likely if there were signs of a further slowdown in hiring. The longer the Fed keeps borrowing costs high, the more it risks weakening the economy too much and causing a recession. Yet,...
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...
by Alterna Mortgage | Jun 3, 2024 | Home Buying, Housing Market, Interest rates, Mortgage Programs, Real Estate
Refinance to a Shorter Term: Refinancing your mortgage to a shorter term, such as a 15-year mortgage, can result in higher monthly payments but a lower overall interest cost. Make Extra Payments: One of the most straightforward ways to pay off your mortgage faster is...
by Alterna Mortgage | May 22, 2024 | Home Buying, Interest rates, Mortgage Programs, Real Estate
Down payment assistance programs continue to be a valuable resource for homebuyers across the country. The 0% Down Purchase program for qualified borrowers to receive a 3% down payment assistance loan, up to $15,000. Here’s how it works: First lien mortgage...
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