GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

Condo Buyer’s Guide: What you need to know when buying a condo

Condo Buyer’s Guide: What you need to know when buying a condo

  Thinking about purchasing a condo? For city dwellers, singles, couples, and anyone looking for a low-maintenance lifestyle, condos offer a unique homeownership experience. They’re often more affordable than detached homes, making them appealing for first-time buyers or those who want to downsize. What is a Condo, Exactly? A condo lets you own your individual unit while sharing ownership of common spaces with other residents. Your monthly “condo fee” helps cover maintenance and repairs in these areas, providing a convenient lifestyle with fewer home maintenance demands. Condo options range from high-rise apartments to townhouse-style setups,...

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MarketMinute | A crystal ball into the 2025 market? See what one economist predicts

MarketMinute | A crystal ball into the 2025 market? See what one economist predicts

October consumer inflation data was in line with expectations. Housing costs pushed the rate up but showed signs of moderating. Wholesale inflation also came in as expected for October, keeping the Fed on track to cut the policy rate at its December meeting. Last week's jobless claims hit the lowest level since May, signaling a still-healthy demand for workers after recent storms and strikes. Purchase mortgage applications rose 2% for the week and were 1% higher than one year ago....

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MarketMinute | How are older Americans impacting the market?

MarketMinute | How are older Americans impacting the market?

October's jobs report showed only 12K new jobs were created versus the expected 100K, yet unemployment remained at 4.1%. Jobless claims increased slightly last week but remained below expectations. The 4-week average fell, indicating a stable labor market. Stocks continued to surge to record highs. All 3 major indexes reached record levels as investors bet on lower taxes and deregulation. Purchase mortgage applications dropped 5% last week but were still up 2% over the same week a year ago....

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Does Waiting for Lower Interest Rates Make Sense for Renters?

Does Waiting for Lower Interest Rates Make Sense for Renters?

  Does Waiting for Lower Mortgage Rates Make Sense? Many renters are waiting for mortgage rates to fall before purchasing a home. However, if home values rise while you wait for rates to drop, you may not save as much on your payment as you think. Plus, you could end up spending a lot of money on rent! Let’s explore some examples of initial principal and interest payments on a hypothetical 30-year fixed-rate mortgage of $400,000 compared to a payment one year later after rates have dropped and home values have risen. Example 1: One-Point Drop in Rates with 5% Appreciation Loan Amount if Bought Now : $400,000 Interest...

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MarketMinute | Did Apps Go Down As Rates Went Up?

MarketMinute | Did Apps Go Down As Rates Went Up?

Consumer confidence grew in October at its fastest single-month pace since March 2021. Inflation increased slightly in September, according to the Fed’s favored PCE index. The 12-month rate was 2.1%, near the Fed target. Job openings in September fell to a 3-1/2 year low, and August's data was revised downward, pointing to a future easing in labor market conditions. Due to a September dip in rates, pending home sales jumped a surprising 7.4% for the month, the highest level since March....

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