GREENWAY BLOG

18 December 2023

December 2023 Rate Watch: Fed Keeps Policy Rates Unchanged

  The Federal Reserve Board left policy rates unchanged at their most recent meeting, as expected. Mortgage rates had already fallen in anticipation .    Looking ahead to 2024 In conjunction with their meeting, the Fed released its most recent set of economic projections. Officials expect inflation to fall more quickly than previously anticipated , reaching their target of 2% in 2026. While individual board members have been saying that further rate increases are still on the table, the projections showed expectations for up to three cuts in 2024 . If rate cuts are expected, should you wait to buy, refi or access equity? Not...

READ MORE

18 December 2023

The FHA Raises Loan Limits 2024

  The FHA Raises Loan Limits 2024 The Federal Housing Administration (FHA) has just increased the amount of money that can be borrowed through its mortgage programs by more than $26K in most areas. In high-cost locations, the increase is even greater. New limits will take effect in 2024. This news could make a big difference for homebuyers! The increases will allow more borrowers to take advantage of FHA’s benefits: Low down payment options Lower total cash-to-close requirements with gift or seller contributions More lenient and streamlined refinancing Ability to combine purchase and rehab financing In some high-cost...

READ MORE

12 December 2023

Why Winter is Your Secret Real Estate Weapon For Buying and Selling

  Feeling a bit Grinchy about diving into the real estate market during the holiday season? Think again! With interest rates hitting a welcoming low, now is the perfect time to reconsider your stance on buying or selling a home. In this blog post, we'll explore three compelling reasons why this winter could be the ideal time for you to make a move. Affordability Soars with Lower Interest Rates One of the most significant factors influencing the current real estate market is the decline in interest rates from their recent highs. Your dream home just became more affordable than ever! With lower rates, your monthly mortgage payments decrease, making...

READ MORE

8 December 2023

MarketMinute | Are Refinances Making a Comeback?

Weakening demand spurred a 3.6% decline in factory orders in October, more than expected and the biggest monthly drop in more than 3 years. Job openings slid to 8.7 million in October, below estimates and the lowest level since March 2021, signaling a loosening labor market. Oil prices plunged to a 6-month low due to booming crude supplies. The drop helped push bond yields lower, supporting lower mortgage rates. Falling mortgage rates reignited refinancing activity. Refi apps were up 14% for the week...

READ MORE

5 December 2023

10 Must-Know Tips for New Homeowners

  Welcome to the exciting world of homeownership! As you step into the realm of owning your own space, a myriad of possibilities and responsibilities unfolds. Understanding what to expect is key, and that's why we've crafted these 10 essential tips. Consider this your starting point, guiding you in the right direction and ensuring a smooth journey into the exciting world of homeownership. #1. Tackle Projects Methodically Prioritize tasks and take projects on one at a time. This approach not only helps manage your time and resources efficiently but also ensures that no aspect of your new home is overlooked. Plus, it's a financially savvy...

READ MORE