GREENWAY BLOG

7 February 2023

How to Choose the Best Mortgage for You

  Borrowers typically know about 30- and 15-year fixed rate mortgage loans, yet there are dozens of different loan types beyond just those.  Mortgage planning, like financial planning serves many needs. Our mission is always to tailor the right mortgage program or strategy to best suit the overall goals of our clients. Do you need the lowest possible housing payment to maximize other investments? A 30-year fixed rate loan will probably help. Do you need to leverage potentially tax-advantaged funds to pay for major home improvement? A cash-out refi and home equity line of credit are just two possibilities. Are...

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3 February 2023

Rate Watch: Fed Increases Rates

  The Fed announced another hike. As expected, the Fed raised policy rates by 0.25% at their February meeting. This is the smallest increase of the eight made in the last 11 months. More "interesting" is the Fed's signal regarding future increases. The Fed statement released after the meeting hinted that ongoing rate increases are anticipated before inflation is brought to the Fed's target of 2.0%. Investors were hoping the Fed would back off of that sentiment. Please Note: Mortgage rates are impacted by market forces beyond Fed actions and will not necessarily change at the same pace as the Fed's moves. They often shift...

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31 January 2023

The Housing Market in 2023: Your Questions Answered

  We are well into the new year now and the housing market is still experiencing constant shifts and changes which leaves many people wondering what will mortgage rates be like in 2023 and will home prices decline? We have the answers and insight to all these questions and more. Let’s take a look! How will mortgage rates trend in 2023? There are reasons to be optimistic that rates will be improving in 2023. As we all saw, rates more than doubled in 2022. Many forecasters indicate that rates will drop below 6% sometime in 2023. The last Federal Reserve rate hike was only 50 bps instead of the 75 bps of the last few hike s, as...

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27 January 2023

MarketMinute | How high did home prices go in 2022?

Despite recession fears, the economy grew at a pace of 2.9% in the 4th quarter, more than the expected 2.6%. Business activity contracted for the 7th straight month in January. The downturn moderated across both the manufacturing and services sectors. Jobless claims declined again last week, this time to 186K. The drop signals labor market strength despite Fed rate hikes and talk of recession. NAR reports the median home sales price in 2022 was $386,300, up 10.2% from 2021 and the highest on record....

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20 January 2023

MarketMinute | How Much Did Mortgage Application Volume Jump?

A recent Fed survey showed the economy held steady in early January. Some regions experienced modest declines in activity. Prices for wholesale goods and services fell sharply in December, providing another sign that inflation is beginning to ease, though still high. December's retail sales fell by the most in a year, and business equipment production slumped, indicating the economy may be losing momentum. Homebuilder sentiment posted an unexpected gain in January, rising for the first time in 12...

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