GREENWAY BLOG

11 April 2023

Mortgage Terms to Know

  Knowing key  housing terms  and how they relate to today’s market is important.  When  mortgage rates  and  home prices  rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home's value) and the inspection contingency ( which gives buyers essential information on a home's condition) directly impact the transaction.  The homebuying process can be intimidating if you're not familiar with certain key terms used throughout the process. That's why we've complied this quick guide to help get you started! Let’s dive right in. Appraisal...

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7 April 2023

MarketMinute | Can rate relief overcome inventory woes?

Private payrolls grew less than expected in March. ADP reported an increase of 145K, down significantly from 261K in February. The Fed's key inflation gauge rose 0.3% in February. The less-than-expected growth provides hope the Fed may soon pause policy rate hikes. Job openings fell below 10 million in February for the first time in 2 years, a sign the Fed’s efforts to slow the labor market may be working. Home prices rose in February after 7 straight monthly declines, according to Black...

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31 March 2023

MarketMinute | Check out the reports of rising home sales and prices!

Last week's jobless claims came in at 198K, higher than expected and up 7K from the previous week. The economy grew 2.6% during the 4th quarter. This rate was slower than both the 2.9% estimate and last month’s 2.7% growth. The "banking crisis" that drove rates down a couple of weeks ago seems to have stabilized, with no new bank failures reported recently. January’s FHFA House Price Index showed prices for homes purchased with a mortgage grew 0.2% for the month and 5.3% for...

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27 March 2023

Doctor Loan | Greenway Mortgage

  Medical professionals have enough to think about in their day-to-day patient care. That’s why Greenway Mortgage developed an exclusive home loan for medical professionals which simplifies the mortgage process and offers up to 100% financing. What is the Doctor Loan? The Doctor Loan is a tailored home loan to meet the needs of doctors looking to purchase a home. These loans offer low to no down payment options, no mortgage insurance and require a minimum credit score of 680.   Who is Eligible for the Doctor Loan? The Doctor Loan is available to Doctor of Medicine, Doctor of Osteopathic Medicine, Doctor of Podiatric Medicine, and...

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24 March 2023

MarketMinute | The markets don't believe the Fed!

The Fed raised rates by 0.25% this week, calling for more hikes to come. Despite this, markets anticipate the Fed will have to cut rates by July. Unemployment applications unexpectedly declined for a 2nd week. The job market remains tight with employers reluctant to lay off workers. Short-term inflation expectations fell in March to the lowest level in 2 years, but consumer sentiment still fell due to persistently high prices. Existing home sales rose 14.5% in February for the 1st monthly gain in 12...

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