GREENWAY BLOG

7 July 2023

MarketMinute | What's the deal with homeowners insurance these days?

Manufacturing contracted for an 8th month in June, slipping to the weakest level in 3 years. Payroll company ADP reports businesses added the most jobs in a year in June, underscoring the ongoing strength of the labor market. The service sector expanded in June at its fastest pace in 4 months, pointing to a resilient economy. Mortgage applications dropped to the lowest level in a month. Purchase apps fell 5% for the week and 22% year over year. Homeowners...

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5 July 2023

What I Wish I Knew When I Bought My First Home

  Buying your first home is an exhilarating milestone, signaling a significant investment and the fulfillment of a lifelong dream. It's a place to call your own, a sanctuary where memories are made. However, amidst the excitement, the homebuying process can become overwhelming, leaving you juggling multiple tasks and making crucial financial decisions. Even with the support of experienced friends and family, there are often hidden aspects that catch you off guard. Have no fear. We’re here to shed light on those untold secrets and provide you with invaluable insights. Armed with this knowledge, you'll be better equipped to navigate the journey of purchasing...

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30 June 2023

MarketMinute | Prices, new home sales and apps are on the rise!

Consumer confidence jumped in June, reaching its highest level since January 2022. A strong labor market and economy helped. The 3rd and final estimate of 1st quarter GDP showed economic growth at 2.0%, up from the previous estimate of 1.3%. Unemployment applications fell last week by the most since October 2021. Despite the drop, demand for workers has slowly eased. House prices rose slightly in April, up 0.7% from March, according to the FHFA. Prices rose 3.1% year over year....

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23 June 2023

MarketMinute | New home construction surges dramatically!

In his bi-annual testimony before Congress, Fed Chair Powell hammered home the message that the Fed is not done raising rates to fight inflation. Jobless claims held steady at a 20-month high, remaining elevated for a 3rd straight week and signaling the labor market may be softening. Consumer sentiment rose 8% last month to the highest level in 4 months, reflecting greater optimism about inflation and the economy. Single-family homebuilding projects surged 21% in May, the most in more than 3 decades....

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20 June 2023

First-Time Homebuyer Perks

  Buying your first home is a monumental step in life, brimming with excitement and a touch of trepidation. It's a decision that carries both the thrill of newfound independence and the weight of significant responsibility. As you embark on this journey, it's normal to experience a mix of emotions, but fear not, for you are not alone. We understand the blend of excitement and overwhelm that accompanies this milestone, which is precisely why we're here to assist you every step of the way. At Greenway Mortgage, we believe the path to homeownership should be paved with guidance and support. Whether you're at the beginning of your savings journey or have...

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