by Alterna Mortgage | Oct 1, 2024 | Financing, Interest rates, Refinancing
The number of people claiming unemployment benefits in the US rose by 33,000 from the previous week to 258,000 on the period ending October 5th, significantly exceeding market expectations of 230,000. This marks a new 14- month high and highlights the ongoing trend of...
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 | 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...
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