GREENWAY BLOG

12 January 2024

MarketMinute | How does today's housing inventory compare to last year's?

Consumer inflation came in slightly higher than expected, led by housing costs. However, the pace of core inflation slowed a little.  Jobless claims dropped to 202K last week, coming in less than expected at the lowest level since October. Markets continue to price in the likelihood of a March Fed rate cut, despite Fed officials’ signals they will hold rates longer. A recent Fannie Mae survey showed more consumers think it is a good time to buy a home. More also expect rates to fall in...

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9 January 2024

New Year, New Home: A Resolution Worth Unlocking in 2024

  As we usher in the promise of a new year, many of us contemplate resolutions that bring positive change into our lives. If buying a new home is on your list of goals for 2024, we've got you covered. In this guide, we'll walk you through five crucial steps to ensure you're in the best financial shape to embark on the exciting journey of homeownership. Step 1: Start Saving for a Down Payment (Boost Your Savings) The hurdle of saving for a down payment is a common concern for prospective homebuyers However, here's the good news: 3% down payment options are now common! The key is to kickstart your savings early. Check out our website or give us a...

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5 January 2024

MarketMinute | Agents Greet 2024 With Optimism

Minutes from the Fed's last meeting suggest the policy rate could remain higher "for some time" until inflation moves lower.  Demand for workers fell to its lowest level in more than 2½ years in November, while hiring and layoffs both slowed. Manufacturing contracted in December. The pace of decline slowed amid a modest rebound in production and improvement in factory employment. As mortgage rates fell to end the year, refi apps were 15% higher than the same week a year ago....

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29 December 2023

MarketMinute | Hope for the 2024 Housing and Finance Markets

Investors are full of optimism for 2024 as the S&P 500 Index sits within striking distance of its first all-time high in nearly 2 years.  Initial jobless claims rose 218K last week, more than estimated but still consistent with a resilient labor market. Inflation around the globe is slowing faster than expected. Experts say levels could return to normal in 2024 for the first time in 3 years. The FHFA reported home prices rose 6.3% year over year in October, faster than September’s 5.5%...

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19 December 2023

Insider Tips for Getting the Best Mortgage Interest Rate

  Before you chase the lowest interest rate for your next mortgage, consider a few tips from Grenway Mortgage. Be wary of comparing only APRS The annual percentage rate (APR) expresses the total cost of interest AND fees as an interest rate over the full term of a loan. The problem is, most people pay fees up front and have their loan for far less than the full terms. This makes the APR inaccurate. Insider Tip: Compare loan costs and monthly payments separately for a better understanding of exactly what you'll pay and when. If you plan to sell or refinance in a few years, any savings from a lower rate may not make up for high upfront...

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