GREENWAY BLOG

19 May 2023

MarketMinute | Demand Still Outweighs Supply

Retail sales increased in April for the first positive reading since January. They still fell short of expectations, as consumers struggled with inflation. Unemployment claims fell by the most since 2021 after fraudulent claims in at least one state boosted the previous week’s numbers. Total consumer debt hit a fresh new high in the 1st quarter of 2023, at just over $17 trillion. Debt increased in all categories. New mortgage originations, including refinances, totaled just $323.5 billion for the...

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18 May 2023

Understanding Loan-Level Pricing Adjustments (LLPA): A Complete Guide

  Tracey Morgan once said, “Bad news travels at the speed of light; good news travels like molasses.” It seems like just overnight the internet was overflowing with news regarding a “new” unfair tax on mortgage borrowers with higher credit scores and that those with lower credit scores could get a better deal. What is this all about? Well before you stop paying your bills on time and end up with a poor credit score, we’re here to explain! Let’s clear the air. You will not get a better deal on a mortgage rate if your credit score is lower. This news all has to do with changes to Loan Level Price Adjustments (LLPAs) imposed by...

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15 May 2023

2023's Top 10 Home Renovation Projects For Max ROI

  Key Points May is Home Remodeling Month The home improvement industry is flourishing Not all home renovations deliver the same ROI Top 10 home renovation projects with max ROI (according to Zonda Media’s 2023 Cost vs. Value Report) Greenway’s Home Renovation Loans   Happy May and Happy Home Remodeling Month! We’re excited to share with you this some of this year's top 10 home improvement projects that have the highest ROI. If you’re planning on selling your home in 2023 or if you’re simply looking to do some home renovation projects you’ve come to the right place....

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12 May 2023

MarketMinute | How many millennials own homes?

Consumer inflation continued its slow-but-steady deceleration last month to the lowest level since April 2021, slightly better than March. Wholesale inflation is also cooling, coming in better than expected. Producer prices increased at the slowest pace since early 2021. The labor market is showing signs of fatigue as well. New unemployment claims hit a 1-1/2-year high. Continuing claims also rose. According to NAR, home prices are still rising in most areas of the country. However, prices fell in 31% of metro areas, some as much as 10%. Purchase mortgage applications rose 5% last week despite still being lower than...

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5 May 2023

MarketMinute | The Fed Has Spoken Again

The Fed raised its policy rate by 0.25% this week. This 10th consecutive hike puts the rate above 5% for the first time since 2007. Job openings fell more than expected in March to the lowest level in nearly two years, a sign the job market is loosening. Applications for unemployment benefits also rose by the most in six weeks, while continuing claims fell by the most since July. Purchase mortgage applications dropped 2% last week and were down 32% from a year ago. Tight inventory continues to...

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