GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

MarketMinute | How are older Americans impacting the market?

MarketMinute | How are older Americans impacting the market?

October's jobs report showed only 12K new jobs were created versus the expected 100K, yet unemployment remained at 4.1%. Jobless claims increased slightly last week but remained below expectations. The 4-week average fell, indicating a stable labor market. Stocks continued to surge to record highs. All 3 major indexes reached record levels as investors bet on lower taxes and deregulation. Purchase mortgage applications dropped 5% last week but were still up 2% over the same week a year ago....

READ MORE
Does Waiting for Lower Interest Rates Make Sense for Renters?

Does Waiting for Lower Interest Rates Make Sense for Renters?

  Does Waiting for Lower Mortgage Rates Make Sense? Many renters are waiting for mortgage rates to fall before purchasing a home. However, if home values rise while you wait for rates to drop, you may not save as much on your payment as you think. Plus, you could end up spending a lot of money on rent! Let’s explore some examples of initial principal and interest payments on a hypothetical 30-year fixed-rate mortgage of $400,000 compared to a payment one year later after rates have dropped and home values have risen. Example 1: One-Point Drop in Rates with 5% Appreciation Loan Amount if Bought Now : $400,000 Interest...

READ MORE
MarketMinute | Did Apps Go Down As Rates Went Up?

MarketMinute | Did Apps Go Down As Rates Went Up?

Consumer confidence grew in October at its fastest single-month pace since March 2021. Inflation increased slightly in September, according to the Fed’s favored PCE index. The 12-month rate was 2.1%, near the Fed target. Job openings in September fell to a 3-1/2 year low, and August's data was revised downward, pointing to a future easing in labor market conditions. Due to a September dip in rates, pending home sales jumped a surprising 7.4% for the month, the highest level since March....

READ MORE
MarketMinute | How is the election impacting home sales?

MarketMinute | How is the election impacting home sales?

Economic activity has remained flat in most parts of the U.S. since early September, according to the Fed's survey of regional business contacts. Household debt totaled $20.2 trillion through the 2nd quarter. The current debt delinquency rate is 2.74%, the highest in nearly 12 years. Initial jobless claims fell for the 2nd straight week, but continuing claims increased to nearly 1.9 million, the most in 3 years. New single-family home sales jumped 4.1% to 738K in September, 6.3% higher than a year...

READ MORE
Understanding Bank Statements and Deposits in the Mortgage Application Process

Understanding Bank Statements and Deposits in the Mortgage Application Process

  Navigating the mortgage application process can feel overwhelming, but it doesn’t have to be. By following a few straightforward guidelines regarding your bank statements and deposits, you can significantly streamline your application and approval process. Here’s a simple guide to help ensure everything goes smoothly. 1. Provide All Numbered Pages of Each Account Statement When submitting your bank statements, always include all numbered pages of each document. For instance, a statement labeled “Page 1 of 8” might only be a cover sheet, while “Page 8 of 8” could be blank or feature advertisements. Underwriters need to see...

READ MORE
Showing results 51 - 55 of 737