GREENWAY BLOG

27 December 2022

5 Biggest Questions This Holiday Season About Real Estate & Mortgages

  As we gather with family and friends this holiday season you know what that means. There’s going to be lots of talk about the real estate market, mortgages, and interest rates; especially if you have an aunt, uncle, mother, father, cousin, or friend who’s house hunting. There’s a lot of speculations about what’s going on and what the future holds. In today’s blog we want to take a few minutes to educate you on what’s really happening. So, sit back and get cozy, we’ve got the answers to 5 of the most popular questions in real estate and mortgages this holiday season. Question #1: What Will Happen with Home Prices?...

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23 December 2022

MarketMinute | Home prices continue their rise

Consumer confidence rose to an 8-month high in December as inflation retreated and the labor market remained strong. In a sign of labor market strength, unemployment filings remain at historically low levels, though they rose slightly last week to 216K. The economy grew faster than previously thought in the 3rd quarter, a sign the Fed's battle to slow it down is having only a limited impact. NAHB reports homebuilder sentiment dropped for the 12th month in December to the lowest level since 2012 but...

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19 December 2022

Great News for Homebuyers | New Loan Limits for 2023

  There could be savings on the table for home buyers in 2023! The Federal Housing Finance Agency (FHFA) has just increased the amount of money that can be borrowed through a standard home loan to more than $726K . In some areas, the limit is even higher. The new limits will take effect in 2023. This is great news for buyers and owners alike. Buyers may be able to borrow more money through a conventional, typically lower-rate loan . Owners may be able to refinance their "jumbo" loan to a lower rate conforming loan and possibly drop mortgage insurance, too. Combining (or avoiding) smaller 1st and 2nd mortgages...

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16 December 2022

MarketMinute | How Much Did The Fed Raise Policy Rates?

Consumer prices came in better than expected in November, up just 0.1% from October and up 7.1% over last year, signaling inflation is ebbing. Consumers pulled back on spending in November, with retail sales for the month declining 0.6%, more than the expected 0.3% drop. The Fed raised policy rates 0.5% this week and signaled more rate hikes to come in 2023 as it continues to fight inflation. Although still lower than a year ago, purchase mortgage applications were up 4% last week. Refinance...

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13 December 2022

The FHA Raises Loan Limits 2023

  The Federal Housing Agency (FHA) has just increased the amount of money that can be borrowed through its mortgage programs by more than $51k in most areas. In high cost locations, the increase is even greater.  New limits will take effect in 2023. The increases will allow more borrowers to take advantage of FHA’s benefits: Low down payment options Lower total cash-to-close requirements with gift or seller contributions More lenient and streamlined refinancing Ability to combine purchase and rehab financing In some high-cost areas, higher loan limits than conventional mortgages Here are the specifics: In most...

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