GREENWAY BLOG

3 May 2024

MarketMinute | Fed Rate Actions and Home Price Movement

The Fed kept its policy rate unchanged at this week's FOMC meeting but kept alive hopes for at least one rate cut this year.  Job openings fell to a 3-year low in March, and fewer people quit their jobs. Declining labor market conditions could be good for rates. Consumer confidence dropped to a 21-month low in April, falling for the 3rd straight month amid concerns about the cost of food and gas. The FHFA House Price Index climbed at a faster than expected 1.2% rate for the month in...

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2 May 2024

Rate Watch: The Fed holds rates steady and offers hints for the future

  When will the elusive rate cuts arrive?  As expected, the Federal Reserve Board left policy rates unchanged at their most recent meeting. Investors – those who actually control mortgage interest rates – were listening for hints of future action.   Are rate cuts still on the board for 2024? In March, Board members projected three policy rate cuts in 2024. At the May 1st press conference, Chairman Jerome Powell reaffirmed the Board's commitment to reaching 2% inflation. He also said, given current data, the Board expects achieving this goal to take longer than previously thought. As always stated, Powell affirmed that...

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1 May 2024

Top 5 Home Renovations

  Love it or List It? We've all played out that scenario in our minds at some point, haven't we? The choice between renovating your current home or hunting down the perfect fully renovated dream home. Whichever path you choose, one thing's for sure: a well-executed home renovation can work wonders for your space, not only enhancing its charm but also boosting its resale value. However, not all renovations are created equal in terms of maximizing your return on investment (ROI). So, which upgrades are worth their weight in gold? We've got the lowdown on the top five in today's blog and provide solutions to help finance these projects. Let’s dive...

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26 April 2024

MarketMinute | Buyers make moves despite higher rates

Orders for durable goods jumped 2.6% in March, mostly in transportation. Limited increases elsewhere signaled manufacturing weakness.  The economy grew last quarter at the slowest pace in 2 years. Consumer and government spending cooled amid a sharp uptick in inflation. The first-quarter measure of underlying inflation advanced at a greater-than-expected 3.7% clip, the first quarterly acceleration in a year. Sales of newly built single-family homes, which make up about 10% of the market, jumped...

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19 April 2024

MarketMinute | Mortgage apps rise despite higher rates

Retail sales jumped 0.7% in March, much more than expected. It was the 2nd straight monthly increase and another sign of a resilient economy.  As progress stalled on lowering inflation, Fed officials signaled they are likely to keep rates higher for longer this year. Last week’s jobless claims were flat at 212K, showing no signs of rising layoffs in the strong labor market. Builder sentiment was flat in April as mortgage rates hovered close to 7% and 1st quarter inflation data failed to show...

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