GREENWAY BLOG

8 July 2022

MarketMinute | Which front door color can add value to a home?

Minutes from the Fed's June meeting showed it remains committed to bringing down inflation and will raise rates at the July meeting. Jobless claims rose unexpectedly last week amid growing signs that demand for labor is cooling. Layoffs surged to a 16-month high in June. It's a big week for jobs data, but investors will be missing the important ADP data report, as ADP is revamping it this summer. The average cost for materials to build a single-family home jumped 42% from 2018 to 2021, adding...

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5 July 2022

Private Mortgage Insurance What Is It and When Can You Cancel PMI?

  If you’ve purchased your home with a down payment lower than 20% of the purchase price, you’re likely paying each month for private mortgage insurance (PMI). We’ve got all the details on PMI, why you need it, how it’s paid, when you can cancel, and more. What Exactly is Private Mortgage Insurance? Private Mortgage Insurance, also called PMI, is a type of insurance you may be required to pay for if you have a conventional loan. PMI protects the lender if you stop making payments on the mortgage loan. PMI is not to be confused with Homeowner’s Insurance, which is required and protects the physical home and property....

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1 July 2022

MarketMinute | Housing and Finance Report

The Fed's preferred inflation gauge rose 4.7% in May from a year ago, slightly less than expected but still stubbornly high. Factory orders for durable goods rose more than expected in May, suggesting business investment remains firm despite economic concerns. Fed Chair Powell insisted this week that the Fed is not deliberately trying to cause a recession and that the economy is on solid footing. Despite gloomy headlines and higher mortgage rates, new home sales unexpectedly rose in May and reversed...

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28 June 2022

Most Medical Debts To Be Removed From Credit Reports

  Changes are coming to medical debt reporting on consumer credit histories. In fact, credit scoring is changing to help consumers – specifically those with medical debt. That's not something you hear every day! Could a change in medical debt reporting help you? Read on for what borrowers should know about changes to how medical collections debt is reported. Medical Debt is a Huge Element of Consumer Debt When you think of consumer debt, overspending on credit cards may come to mind first. However, according to Consumer Financial Protection Bureau  research , there’s $88 billion in medical debt on consumer credit records as of last...

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27 June 2022

Homeownership Serves as a Hedge Against Inflation

  If you've been following the news lately, you've heard about rising inflation. Today,  inflation  is at a  40-year high .  According to the  National Association of Home Builders  (NAHB): “Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an  8% rate and was the largest year-over-year gain since December 1981 .” As prices go up for gas, groceries and more, your wallet is likely feeling the impact. If you're thinking about purchasing a home this year you may have...

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