Please enjoy this quick update on what happened this week in the housing and financial markets. This week the U.S. and China signed the 'phase one' trade deal, an event that helped drive global stocks to record highs. Talks will now begin on a 'phase two' deal. Consumer prices rose slightly in December, but underlying inflation pressures retreated. Weak inflation supports the Fed's desire to keep policy rates unchanged. Producer prices edged up in December as a rise in the cost of goods was offset by weakness in services. This reading was another indication of tame inflation. ...READ MORE
Are you currently looking to purchase a home? If so, it’s important to know what affordable lending options there are. If you're aspiring to own a home within a certain budget, we're here to tell you that there is a loan for you! Take some time to educate yourself on the facts about affordable lending and learn what programs Greenway Mortgage has to offer. There are low or no down payment mortgage programs that make home buying more affordable and offer a variety of benefits for borrowers who qualify. Let’s take a look at some options: FHA LOANS Greenway can help you achieve your dreams of owning a...READ MORE
Please enjoy this quick update on what happened this week in the housing and financial markets. Activity in the services sector rose slightly in December, climbing to 55 from 53.9 in November, as businesses felt relieved by a partial trade agreement with China. The U.S. trade deficit fell more than expected in November, hitting the lowest level since President Trump took office. A reduced deficit could help employment and improve currency value. Stocks rallied this week as tensions eased between the U.S. and Iran. A flight to safety had helped mortgage rates late last week, seeing rates hit the best levels in a month. ...READ MORE
Escrow accounts provide for the timely payment of taxes and insurance on your home. This prevents tax liens, loss of property and any lapse of insurance coverage. As part of your regular mortgage payment, 1/12th of the annual cost is collected. These funds are held and paid out as bills come due. If taxes are $5,000 and insurance is $1,000 for a total of $6,000, you’ll pay $500 into escrow each month. The balance will build until an outgoing payment is made. The minimum required balance is usually a two month cushion to assure that sufficient funds are in the account even if payments are interrupted. ...READ MORE
Please enjoy this quick update on what happened this week in the housing and financial markets. Rates, including those for mortgage loans, hovered near historic lows in 2019 and helped propel the stock market to record highs. Stocks in 2019 gained almost 29%, the most since 2013. Confidence among consumers climbed to the highest level in 5 months in December, as Americans grew more optimistic about the economy and their personal finances. Jobless claims dropped to a 4-week low at the end of last year, the latest signs that the labor market remains robust. This was the 3rd straight drop in unemployment filings. ...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.