by Alterna Mortgage | Jul 9, 2022 | Financing, Home Buying, Housing Market, Interest rates, Refinancing
While rates were on the rise at the beginning of the year, the 30-year fixed-rate mortgage averaged 5.30% in the week ending July 7. This was down from 5.70% the week before. Economic concerns have pushed them lower in recent weeks. Rates are still higher than they...
by Alterna Mortgage | Jun 25, 2022 | Home Buying, Housing Market, Inflation, Interest rates, Real Estate
This report from the Oregon Office of Economic Analysis said nearly 168,000 households in the Portland area have been priced out of the housing market this year. “30-year mortgage rates have risen from around 3% at the end of 2021 to just over 6% in recent days,” the...
by Alterna Mortgage | Jun 16, 2022 | Home Buying, Housing Market, Inflation, Interest rates
The Federal Reserve announced on Wednesday it raised benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994, as it seeks to combat the fiercest surge in U.S. inflation in four decades. Chair of the Federal Reserve Mr. Powell also...
by Alterna Mortgage | Jun 14, 2022 | Home Buying, Housing Market, Real Estate
Signs of a slowing real estate market are growing—existing-home sales and new-home sales are slipping. Many home sellers are worried that they could miss out on the typical buyer frenzy. The inventory of homes for sale went up by 9% last week compared to 2021. New...
by Alterna Mortgage | Jun 7, 2022 | Home Buying, Housing Market, Interest rates, Real Estate, Uncategorized
Despite the rise in home prices and rates, and in some cases a lack of inventory, it can still a good time to buy a home. Case in point: if you’re already ready to buy a home, you could lock in a favorable interest rate before things shift. Rates seem high at 5+%, but...
by Alterna Mortgage | Feb 28, 2022 | Financing, Home Buying, Housing Market, Inflation, Interest rates
Things Are Not All that great with the economy In addition to the inflation problem, the economy is decelerating. Economic growth is slowing. The consumer is assuming more credit card debt to pay for items and fuel costs are soaring. This is a very difficult...
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