If you’re in the market to buy a home in the coming months, you may already have discovered that the competition is tight and the inventory is low in many areas of the country. This housing shortage is the result of a few key factors according to Gay Cororaton, senior economist and the director of housing and commercial research at the National Association of Realtors (NAR). With less than a 2-month supply of homes for sale on the market, the inventory in January 2021 fell nearly 26 percent compared with January 2020, NAR reports. “All in all we’re short now about 3 million homes,” Cororaton said. “That’s a...READ MORE
Consumer prices were up 5% year over year in May, the fastest pace since August 2008. Prices are rising as a rush of demand meets shortages in materials and labor. The core inflation rate, which strips out food and energy prices, rose 3.8% annually, the sharpest increase in nearly three decades due to last year's pandemic-related shutdown. The labor market recovery continues to gain steam. Unemployment claims fell for the 6th straight time last week, hitting the lowest level in nearly 15 months. Homeowner equity has more than doubled over...READ MORE
Whether it’s a quick refresh or getting your house ready to be listed for sale, making changes doesn't have to be a big project, sometimes simple updates can go a long way. Here are 5 ways you can add curb appeal to your home without breaking the bank. 1. Front Door Refresh 2. Planting a tree or adding flower boxes 3. Add potted plants for symmetry 4. Upgrade your mailbox 5. Adding furniture #1 | Brighten up the outside of your home by adding some color to your door. This simple trick...READ MORE
The core PCE rose 3.1% in April, more than expected. The index is generally considered a wide-ranging measure for inflation, and its growth reflects economic expansion. Oil prices are rising, supported by an OPEC+ decision to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the U.S. According to the Fed, the economic recovery picked up steam in the past 2 months, sparking price pressures as businesses contended with labor shortages and rising costs. High prices and low...READ MORE
June is National Homeownership Month and Greenway Mortgage is celebrating all month long. For many generations, owning a home has been a source of pride and security. In fact, it has always been considered a major part of the American Dream. From rural counties to bustling cities, owning a home offers an opportunity to lay down roots, start a family and embark on new beginnings. And now, more than ever, our homes have become an integral part of our lives. With millions of people stuck in their homes this past year, the pandemic has definitely changed the meaning and the experience of “home”. They’re much more than the houses we live in....READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.