Freddie Mac's weekly average interest rate on 30-yr., fixed-rate mortgages hit its lowest level in the survey's 49-year history. This is the 8th time this year for record lows. The ISM manufacturing index increased to 54.2 in July, indicating manufacturing expansion for the 3rd consecutive month after the spring's steep collapse. Initial jobless claims fell more than expected last week to the lowest since the pandemic started. The broad decline across nearly all states suggests labor market improvement....READ MORE
Download Your Free Home Comparison Chart Here . Purchasing a home is a major milestone that tops many people's lifetime to-do lists—and maybe their list of financial fears too. But it certainly doesn't have to be a scary or stressful experience. With time, care, and research, you can take control of the home-buying process. When looking for a home to buy, it becomes easy to get individual houses confused with one another because there are so many details. That's why Greenway Mortgage has created a Home Comparison Chart to help keep everything in order! Our handy checklist identifies important...READ MORE
At this week's regular meeting, the Fed pledged to keep policy rates near zero until the economy stabilizes. Bond purchases will also continue in support of the markets. Jobless claims rose for a 2nd week in a row to 1.43 million, after several weeks of improvement. The increase was slight, with only 12,000 more claims than the week before. Consumer confidence fell more than expected in July, as some businesses had to close again or halt reopenings amid a flare-up in COVID-19 infections across the country. ...READ MORE
With COVID-19 cases on the rise and the extra $600/wk in unemployment assistance set to expire next week, Congress is facing mounting pressure to pass another aid package. Optimism about a potential vaccine, fiscal stimulus, and economic improvement has helped the benchmark S&P 500 rise 1.4% this year, recouping most of its virus-induced losses. Jobless claims rose last week for the first time since March, signaling a labor market stall. The increase is likely due to states' reversing course on re-opening businesses. ...READ MORE
Planning ahead for your mortgage application will save you time and trouble once you start making offers. Here's a list of things you'll need to gather! Income Provide your last two paystubs along with your W2s and Federal tax returns for the last two years (include all schedules). State returns are not needed. If you are self-employed, ask me for the additional documentation requirements. If you receive bonus or commissions or have changed your job or position, let’s talk. Assets Combine all the funds needed to close into one account at least two months prior to your application. Document any other deposits here as each...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.