by Alterna Mortgage | Mar 13, 2023 | Financing, Interest rates, Mortgage Programs, Refinancing
Today the national average 30-year fixed mortgage rate for the beginning of March 2023 is at 7.02%. This is the rate for big banks and large banking firms. Since Alterna Mortgage is an independent broker our average rate today for a 30-year fixed is 5.99%. That is a...
by Alterna Mortgage | Mar 9, 2023 | Financing, Home Buying, Interest rates
The Federal reserve is going to continue to increase rates. This is not news. It seems more to be the norm. However, if they are lower than the market is anticipating then mortgage rates may decrease regardless of the increased rate. Markets expect the U.S. Federal...
by Alterna Mortgage | Feb 20, 2023 | Financing, Home Buying, Housing Market, Inflation, Interest rates
“We are going to react to the data” – Powell Here the Fed Chair reminds the markets that last Friday’s Jobs report was strong, but backward looking and lagging while other economic indicators show signs of s slowdown. The Fed does not want to over...
by Alterna Mortgage | Sep 16, 2022 | Financing, Home Buying, Interest rates
In September, the Fed is slated to double the current caps to $95B. What does this mean? Starting next month, the first $60B in Treasuries and $35B in MBS proceeds the Fed receives through bond maturing, refinance or purchase activity will be given back to the...
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...
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