Greenway Mortgage Blog

27 March 2023

Doctor Loan | Greenway Mortgage

Medical professionals have enough to think about in their day-to-day patient care. That’s why Greenway Mortgage developed an exclusive home loan for medical professionals which simplifies the mortgage process and offers up to 100% financing. What is the Doctor Loan? The Doctor Loan is a tailored home loan to meet the needs of doctors looking to purchase a home. These loans offer low to no down payment options, no mortgage insurance and require a minimum credit score of 680. Who is Eligible for the Doctor Loan? The Doctor Loan is available to Doctor of Medicine, Doctor of Osteopathic Medicine, Doctor of Podiatric Medicine, and Doctor of...

24 March 2023

MarketMinute | The markets don't believe the Fed!

The Fed raised rates by 0.25% this week, calling for more hikes to come. Despite this, markets anticipate the Fed will have to cut rates by July. Unemployment applications unexpectedly declined for a 2nd week. The job market remains tight with employers reluctant to lay off workers. Short-term inflation expectations fell in March to the lowest level in 2 years, but consumer sentiment still fell due to persistently high prices. Existing home sales rose 14.5% in February for the 1st monthly gain in 12 months and the largest...

23 March 2023

Rate Watch: The Fed Increases Rates Again

The Fed again increased rates by 0.25% at their most recent meeting, though some had anticipated a pause in rate hikes. This is the ninth time the Committee has increased rates in the last 12 months. Here’s why they kept pushing forward. The Fed statement released after the meeting indicated economic signals, including continuing inflation and the strong labor market, warranted the rate hike, while also expressing confidence in the U.S. banking system. The Committee signaled that some additional rate increases may be appropriate before inflation is brought to the Fed’s target range of 2.0%. Please Note: Mortgage rates are impacted by market forces...

17 March 2023

MarketMinute | Signs of hope for a stabilizing housing market?

Inflation fell for the 8th straight month in February, reaching the lowest level since September 2021. It remains higher than the Fed's 2% goal. Although more jobs were created in February than expected, wage growth came in slightly slower, which helps the outlook of reduced inflation. Retail sales fell in February after surging in January, suggesting that consumer spending is slowing down in the face of high inflation. Single-family homebuilding and permits for future construction rebounded in February, offering hope the...

10 March 2023

MarketMinute | What might a return to normalcy look like?

In his semiannual testimony before Congress this week, Fed Chair Powell signaled a possible higher-than-expected Fed rate hike in March. Job openings declined slightly in January but still far outnumber available workers, as the labor picture remains tight. Labor market strength and strong economic and consumer spending data have pressured mortgage rates higher recently. Despite rising interest rates, mortgage application volume improved 7.4% last week. Purchase apps rose 7%, and refi apps grew 9%....

GREENWAY BLOG

Doctor Loan | Greenway Mortgage

MarketMinute | The markets don't believe the Fed!

Rate Watch: The Fed Increases Rates Again

MarketMinute | Signs of hope for a stabilizing housing market?

MarketMinute | What might a return to normalcy look like?