Alterna Mortgage

05/08/2025

Fed Chair Jerome Powell left its key interest rate unchanged again Wednesday May 7th and gave no hint of plans to lower the interest rate anytime soon, as tariffs raise the risks of either another inflation spike or recession. The central bank lowered the rate by a percentage point late last year as a pandemic-related price surge eased but has paused since as it gauges the impact that tariffs may have on the economy....

Fed Chair Jerome Powell left its key interest rate unchanged again Wednesday May 7th and gave no hint of plans to lower the interest rate anytime soon, as tariffs raise the risks of either another …

05/08/2025

Expectations for a flurry of Federal Reserve interest rate cuts this year spiked as financial markets reeled in the wake of President Trump’s wave of global tariffs. The central bank is now expected by money markets to slash its key rate by 100 basis points before the end of the year, probably in four 25-point reductions, after trillions of dollars were wiped from US equities and bond yields plunged in the days following Trump’s announcement....

Expectations for a flurry of Federal Reserve interest rate cuts this year spiked as financial markets reeled in the wake of President Trump’s wave of global tariffs. The central bank is now expecte…

05/08/2025

The agency, which has returned $21 billion to consumers since its inception, could lose 1,500 of its 1,700 employees, a union warned. The full scope of the cuts was not immediately clear, but by late afternoon, hundreds of workers across all of the agency’s major divisions had received reduction-in-force notices. The bureau, which was created by Congress in 2011, monitors banks and other lenders....

The agency, which has returned $21 billion to consumers since its inception, could lose 1,500 of its 1,700 employees, a union warned. The full scope of the cuts was not immediately clear, but by la…

05/08/2025

Federal Reserve chair Jerome Powell said the Trump administration’s tariff war will likely drive inflation higher and slow the US economy but dismissed the prospect of an imminent interest rate cut as those risks grow. The Fed chief described the extent of Trump’s tariffs as “significantly larger than anticipated” in remarks that sent US stocks plunging as fears grew of a sharp economic downturn....

Federal Reserve chair Jerome Powell said the Trump administration’s tariff war will likely drive inflation higher and slow the US economy but dismissed the prospect of an imminent interest rate cut…

05/08/2025

Its dual mandate is low unemployment and inflation, two often competing goals. Raising interest rates can slow inflation but increase job losses, while cutting interest rates can increase hiring but risk faster inflation. A potential rock-hard-place moment for the Fed has Powell increasingly cautious, fearful that cutting or raising interest rates may have severe consequences. Americans are already pinching pennies because of higher prices over the past three years, and layoffs are rising....

Its dual mandate is low unemployment and inflation, two often competing goals. Raising interest rates can slow inflation but increase job losses, while cutting interest rates can increase hiring bu…

02/27/2025

Mortgage interest rates have inched down for the most part. According to Zillow, the 30-year fixed rate has decreased by four basis points to 6.50%, and the 15-year fixed rate is down by four basis points to 5.83%. Rates are inching up and down sporadically, but there haven't been major shifts in a while — and there probably won't be any significant drops in 2025....

Mortgage interest rates have inched down for the most part. According to Zillow, the 30-year fixed rate has decreased by four basis points to 6.50%, and the 15-year fixed rate is down by four basis…

02/27/2025

US inflation rose in January, strengthening the Federal Reserve’s case to keep interest rates on hold despite President Trump’s fresh demands for rate cuts. The consumer price index posted its biggest increase since August 2023, government data released Wednesday showed, jumping by 0.5% as the price of groceries and gas ticked upwards. The headline inflation figure now sits at 3%, while the core consumer price index (CPI) – which excludes food and energy costs – saw a bigger-than-expected climb to 3.3%....

02/27/2025

The U.S Department of Housing and Urban Development (HUD) plans to eliminate up to 50% of its 9,600 employees in the latest round of job cuts for federal agencies. The General Services Administration (GSA) is also facing a possible 50% reduction in its workforce, as government officials have announced they are looking to cut the agency’s budget in half. Plans to meet that goal were due today, according to news sources....

The U.S Department of Housing and Urban Development (HUD) plans to eliminate up to 50% of its 9,600 employees in the latest round of job cuts for federal agencies. The General Services Administrati…

02/27/2025

Two leading officials at the Consumer Financial Protection Bureau (CFPB) who were placed on administrative leave this week have resigned as the chaos engulfing the key mortgage regulator continues. Department of Government Efficiency (DOGE) head Elon Musk, who has long called for the consumer protection bureau to be dismantled, posted “CFPB RIP” from his X account. Acting director Russell Vought told staff by email Saturday that they should not issue any proposed rules and should stop pending investigations, refrain from opening new investigations, issue no public communications and freeze stakeholder engagement....

Two leading officials at the Consumer Financial Protection Bureau (CFPB) who were placed on administrative leave this week have resigned as the chaos engulfing the key mortgage regulator continues.…

10/15/2024

Do they continue to cut the rates? Do they pause? It could go either way. The Federal Reserve on Wednesday September 18th enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, affirming market expectations that had recently shifted from an outlook for a cut half that size....

Do they continue to cut the rates? Do they pause? It could go either way. The Federal Reserve on Wednesday September 18th enacted its first interest rate cut since the early days of the Covid pande…

10/15/2024

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 a weakening labor market, bolstering forecasts that the Federal Reserve may introduce rate cuts in each of its remaining decisions this year....

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 230,0…

10/15/2024

Buyers: Home Prices Won't Come Crashing Down Good things may come to those who wait, but patience doesn't always pay off in the housing market. Two-thirds of homebuyers are waiting for mortgage rates to fall this year before buying a home. In the time that homebuyers have been holding out for lower rates, home prices have continued to rise. Real estate markets are expected to stabilize next year – but buyers shouldn't expect housing prices to come crashing down, at least not on a national level....

Buyers: Home Prices Won’t Come Crashing Down Good things may come to those who wait, but patience doesn’t always pay off in the housing market. Two-thirds of homebuyers are waiting for …