GREENWAY BLOG

1 March 2024

MarketMinute | New Home Sales are a Bright Spot

Orders for long-lasting manufactured goods fell by the most in 4 years in January, a sign the economy lost momentum at the start of the year.  Consumer confidence fell in February after 3 straight monthly increases due to concerns about the labor market and the presidential election. The Fed's favored inflation gauge, the PCE index, showed prices picked up in January, though it was the smallest annual increase in almost 3 years. New home sales ticked up in January. Single-family home sales rose...

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23 February 2024

MarketMinute | Housing Inventory is Inching Up

New unemployment claims fell unexpectedly last week, suggesting that job growth likely remained solid in February.  Minutes from their last meeting showed Fed members were more worried about the risk of cutting rates too soon than keeping them high too long. After 2 months of solid improvements, consumer sentiment hit a lull in February. Sentiment still ticked up slightly. Single-family production improved slightly in January, though a decline in multifamily construction pushed overall housing...

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20 February 2024

Pre-Qualification vs Pre-Approval: What’s the Difference?

  In the exciting journey of homeownership, understanding the distinctions between pre-qualification and pre-approval is crucial. While the terms may sound similar, their implications vary significantly, especially for eager homebuyers. In this blog, we'll examine the key differences and help you decide whether to start with a pre-qualification or jump straight into the pre-approval process. Mortgage Pre-Qualification: Testing the Waters What is Mortgage Pre-Qualification? Before fully committing to the homebuying process, getting pre-qualified acts as a preliminary step. During this phase, you provide an overview of your financial situation,...

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16 February 2024

MarketMinute | What's Gen Z's top platform for homebuying education?

Shelter prices contributed to higher-than-expected inflation for January, lowering the odds that the Fed will cut rates soon.  Fed members continued spreading the message that they are hesitant to start cutting rates yet and want to see more data first. Consumer spending fell more than expected in January, after making gains in December. Retail sales dropped 0.8%, more than the expected 0.3%. As mortgage rates rose last week, total applications fell 2.3%. Purchase apps dropped 3% for the week and...

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16 February 2024

Monmouth County, NJ’s First-Time Homebuyers Assistance Program

  Are you dreaming of owning your first home but struggling to navigate the complex world of down payments and closing costs? Look no further! The Monmouth County, NJ First-Time Homebuyers Assistance Program is here to turn your homeownership aspirations into reality. In this blog, we'll explore the ins and outs of this program, including eligibility criteria, program details, and the participating municipalities that could become your new home. Understanding the Program The Monmouth County, NJ First-Time Homebuyers Assistance Program is tailored to provide financial support to low-income families aiming to purchase an affordable home. The program offers a...

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