GREENWAY BLOG

16 November 2023

What's Happening with Mortgage Rates?

  Inflation is currently down. Does this mean it's time to make a move? The October Consumer Price Index (CPI) showed U.S. prices were unchanged from September to October. Mortgage interest rates immediately fell with the news. What does lower inflation mean moving forward? Many market analysts are projecting the Federal Reserve Board may be done raising rates. However, that doesn't mean rate cuts will come anytime soon. The annual inflation rate was 3.2% in October, still above the Fed target of 2%. It's likely markets will remain volatile as investors try to anticipate the Fed's next moves....

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13 November 2023

New Jersey Smart Start Plus First-Generation Down Payment Assistance Program

  Exciting News for Aspiring Homebuyers in New Jersey! We’re excited to announce that the state of New Jersey will now offer a new home buying program that’s set to transform the landscape of homeownership, offering an enhanced and more affordable path for first-time home buyers to turn their homeownership dreams into a reality. Introducing The Smart Start Plus First-Generation Homebuyer Program Available on October 20, 2023, the Smart Start Plus First-Generation Homebuyer Program is designed to deliver substantial down payment and/or closing cost assistance to qualified homebuyers. Let's delve into the finer details: This new...

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10 November 2023

MarketMinute | Mortgage App Volume Climbed As Rates Fell

This week’s Fed member speakers tried to cool expectations for rate cuts and affirm their resolve to bring down inflation. The segment of U.S. households with $1 million to $5 million in investable assets has jumped almost 60% over the past 16 years. New unemployment claims were down last week. Layoffs remained low even as the still-strong job market showed some signs of cooling. Mortgage application volume climbed 2.5% last week as rates fell. Purchase apps rose 3% for the week, and refi apps...

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7 November 2023

6 Reasons Why Your First Home Should be a Multi Family Property

  Did know your first house could pay for itself? Here are 6 reasons to make your first home a multifamily property. 1. Collecting rent for the unit(s) you will not occupy can go a long way to subsidizing, if not sometimes even covering, your monthly loan payment . 2. The portion of the property that is rented can be depreciated. This lowers your tax liability on the rental income. 3. Expenses for maintenance and repairs can also be deducted for the rented portion of the property. 4. You may be able to purchase a more expensive property . Over time, this may provide a larger accumulation of equity than a lesser priced property. 5. New...

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3 November 2023

MarketMinute | Home Prices Rise While Homeowners Stay Put

The Fed maintained the current policy rate at its November meeting and signaled the cycle of increases may be ending. Despite a booming economy, consumer confidence dropped for the 3rd straight month amid persistent inflation worries. Jobless claims rose for the 6th week, signaling the labor market may be cooling. However, job opening data showed layoffs at a 9-month low. According to ICE, home prices set a record in August for the 4th consecutive month. Prices rose 0.68% over July's level....

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