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MarketMinute | Mortgage apps jumped this week!

Mar 7

7:47

Category | Markets in a Minute

The Fed’s most recent Beige Book showed a mixed employment picture and a slight rise in economic activity since mid-January.

Unemployment applications fell more than expected last week, indicating the labor market remained stable in February.

Payroll processing firm ADP reported private companies added just 77K new workers in January, well below the 148K consensus estimate.

Housing News

Single-family construction spending rose 0.6% in January. Overall spending, including for multifamily and home improvements, fell by 0.4%.

New apartment construction hit a record high last year. Developers completed almost 600K multifamily units, according to the U.S. Census.

Falling mortgage rates lit a fire under demand last week. Mortgage applications jumped 20%, the first increase in 3 weeks.

MarketMinute | Inventory and prices rose in January. Find out what fell

Feb 28

2:59

Category | Markets in a Minute

In February, consumer confidence experienced its largest decline since 2021. The drop was blamed on rising inflation and trade war concerns.

Initial jobless claims hit their highest level of the year last week, a potential sign of weakness in the labor market.

A rise in durable goods orders in January is being attributed to businesses rushing to buy parts and supplies ahead of potential U.S. tariffs.

Housing News

There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024.

The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.

Sales of previously owned homes fell 4.9% for the month in January but were 2% higher than January 2024.

MarketMinute | What's keeping home builders up at night?

Feb 21

6:46

Category | Markets in a Minute

Minutes from last month's Fed meeting showed officials wanted to maintain policy rates amid stubborn inflation and economic uncertainty.

Mortgage rates have held steady to begin the year as inflation fears and concerns over a surge in debt issuance have failed to materialize.

New jobless claims increased moderately last week, suggesting the labor market remains on solid ground.

Housing News

The NAHB reports a sharp decline in builder sentiment in February, due to concerns over tariffs, elevated mortgage rates, and high housing costs.

Winter storms slowed single-family homebuilding in January. A limited rebound is expected amid tariffs and elevated mortgage rates.

Mortgage demand dipped last week. Applications fell 6.6% for the week, as affordability continued to sideline potential buyers.

MarketMinute | Rental and for-sale inventory news

Feb 14

4:07

Category | Markets in a Minute

Consumer prices increased the most in 1.5 years in January, reinforcing the Fed's message that it was in no rush to resume cutting policy rates.

In Congressional testimony, Fed Chair Powell said the economy is doing well and the Fed can take its time to decide on future policy rate cuts.

New applications for unemployment benefits fell last week, suggesting the labor market remained stable early in February.

Housing News

Purchase mortgage applications declined again, falling 2% for the week. Demand was 2% higher than the same week a year ago.

ICE reports a 22% growth in for-sale inventory in 2024. At the current pace, the market would return to pre-pandemic inventory by mid-2026.

Rising rental supply is fostering a renter-friendly market, but slowing multifamily construction may tighten the market after this year.

VA Home Loans: A Hero’s Path to Homeownership

Feb 13

11:44

Category | Markets in a Minute

For those who have served our country, homeownership is more than just a milestone—it’s a well-earned benefit. VA home loans provide veterans, active-duty service members, and eligible spouses with exclusive financing options that make buying a home more affordable and accessible.

What Is a VA Home Loan?

A VA home loan is a government-backed mortgage program designed specifically for military personnel. These loans are guaranteed by the U.S. Department of Veterans Affairs (VA) and offered through approved lenders like Greenway Mortgage. Unlike conventional loans, VA loans come with significant advantages that help veterans achieve homeownership with minimal financial burden.

Why Choose a VA Loan?

VA loans offer a range of benefits that make them a great choice for eligible borrowers:

No Down Payment Required – VA loans allow for 100% financing, eliminating the need for a large upfront payment
No Private Mortgage Insurance (PMI) – Unlike conventional loans, VA loans do not require PMI, helping you save money on monthly payments
Gift Funds Acceptable for Closing Costs – Borrowers can use gift funds from family or other approved sources to help cover closing costs
No Cash Reserve Requirements
A Variety of Terms or Loan Types Available
Refinance Options Available – If you already have a VA loan, refinancing may help lower your rate or provide cash-out options
Special Benefits for Disabled Veterans – Disabled veterans may qualify for reduced fees
No Prepayment Penalty – Pay off your loan early without extra fees
Seller Assistance Allowed – Sellers can cover closing costs and any required repairs

Who Is Eligible for a VA Loan?

VA home loans are available to:

Active-duty service members
Veterans
Members of the National Guard and Reserves
Certain surviving spouses of veterans
Eligibility requirements, exclusions and other terms and conditions apply. Click here to learn more.

To determine your ability to participate in this program, just provide your Certificate of Eligibility (COE) or your Discharge/Separation form (DD214). If you do not have your COE, you can request one using form 26-1880.

Get Started Today

If you’re a veteran or active-duty service member, a VA home loan could be the perfect path to homeownership. Greenway Mortgage is here to guide you through the process and ensure you get the best financing options available.

Ready to take the next step? Contact us today to learn more about VA loans and how they can benefit you!

Reach Out: 888-616-0998 // leads@greenwaylending.com