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 | 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...
by Alterna Mortgage | Jul 11, 2024 | Financing, Interest rates, Real Estate, Refinancing
‘We expect rates to continue to come down over the summer months,’ Freddie Mac says. Mortgage rates fell to their lowest level since early April as the U.S. economy showed indications of a slowdown. The 30-year fixed-rate mortgage averaged 6.86% as of June 27,...
by Alterna Mortgage | Jul 10, 2024 | Financing, Refinancing
PMI is typically required when you take out a conventional conforming mortgage and put down less than 20%. Your loan servicer must automatically drop PMI when your mortgage balance reaches 78% of your home’s purchase price. It’s possible to cancel PMI in other cases,...
by Alterna Mortgage | May 9, 2023 | Financing, Interest rates, Refinancing
They are fighting a new type of economic battle with the same approach. Even though they hint the issues may be different this time. On Wednesday May 3rd the Federal Reserve’s policy committee lifted interest rates by a quarter of a percentage point, the 10th hike of...
by Alterna Mortgage | May 3, 2023 | Financing, Home Buying, Interest rates, Refinancing
There are several factors that can affect your ability to qualify for a lower interest rate on a mortgage, including: Good credit score: Your credit score is one of the most important factors in determining the interest rate you qualify for on a mortgage. The higher...
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