What happens to my loan if I refinance?
As we have mentioned before, refinancing isn’t for everyone. Educating homeowners about the refinance process is an important service we provide at Alterna Mortgage. Since mortgage rates at an all-time low, refinancing has become a hot topic for homeowners as a...
Important things to consider when thinking about refinancing
Interest rates are generally low right now and you may be able to swap out your old, higher interest rate mortgage for a new one with lower rates. Refinancing may seem like a no-brainer...but it is not a wise financial move for everyone. Before you jump in with both...
Federal Reserve Signals Bond Purchases May Slow
Federal Reserve officials are expected to slow the asset purchases used to support the US economy during the COVID pandemic. Officials also indicated that they might raise interest rates in 2022. Both of these can be signs that policymakers are preparing to move away...
10-year mortgage refinance rates remain low
Of course there are still day-to-day fluctuations in the market, but mortgage refinance rates remain at historic lows. In many cases, homeowners looking to pay off their mortgages sooner may find 10-year rates particularly appealing. Since July 19, 2021, 10-year...
Mortgage rates still low, but many experts see higher rates ahead
Rates across the country’s most popular mortgage types have remained historically cheap for another week, at levels that are relatively close to their all-time lows, according to a long-standing weekly survey. The ongoing wave of COVID delta variant infections has...
Refinancing with a Broker is Better
Working with Alterna Mortgage is better than working with a bank. PROS OF WORKING WITH ALTERNA MORTGAGE We do all the legwork for you, working on your behalf with the lender We compare wholesale mortgage rates from a large number of banks and lenders all at once We...
Low mortgage rates are back…but for how long?
If you've been waiting to move ahead with a refinance, you are in luck: low mortgage rates are back. Many homeowners recently decided to enter the refinance market as the average rate on a 30-year mortgage dropped last week to 2.78%. This is not too far from the...
Interest rate changes expected in the not too distant future
Consistently historic low mortgage rates have led to unprecedented demand for home purchasing since the onset of the COVID-19 pandemic. As a result, home prices have been surging. Worries about inflation have finally forced the Federal Open Market Committee (FOMC) to...
One way to be a competitive buyer during a housing boom
Even though some home prices and sales are finally leveling out after months of a bullish real estate market, those looking to purchase a home aren't in the clear just yet. Competition is relatively high given the limited housing inventory, so it is good to be as...
Shortening Your Mortgage Term
With rates still low...you may want to consider shortening the term of your mortgage. Shortening your mortgage term is a great way to save money on interest. Often, shortening your term means you'll receive a better interest rate. A better interest rate and fewer...