GREENWAY BLOG

26 November 2024

Industry Update | FHFA Announces Conforming Loan Limit Values for 2025

  On November 26, 2024, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming  loan limits  for mortgages acquired by Fannie Mae and Freddie Mac in 2025. The maximum loan limit for one-unit properties will be $ 806,500 , an increase of $39,950 (or 5.2 percent) from 2024. Release . National Baseline The decision was based on the recovery of housing prices under the Housing and Economic Recovery Act of 2008 (HERA). They require that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the average U.S. home price.   FHFA third quarter...

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22 November 2024

MarketMinute | Existing home sales moved up!

Weekly jobless claims for last week hit a 7-month low, suggesting job growth rebounded in November after slowing last month. Prices have risen somewhat faster than expected in the past few months, raising questions about whether the Fed can achieve its 2% inflation goal. Stronger than expected economic and labor market data and increasing inflation concerns could reduce expected future Fed policy rate cuts. Homebuilder sentiment rose to a 7-month high in November as expectations for sales in the next 6...

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18 November 2024

Condo Buyer’s Guide: What you need to know when buying a condo

  Thinking about purchasing a condo? For city dwellers, singles, couples, and anyone looking for a low-maintenance lifestyle, condos offer a unique homeownership experience. They’re often more affordable than detached homes, making them appealing for first-time buyers or those who want to downsize. What is a Condo, Exactly? A condo lets you own your individual unit while sharing ownership of common spaces with other residents. Your monthly “condo fee” helps cover maintenance and repairs in these areas, providing a convenient lifestyle with fewer home maintenance demands. Condo options range from high-rise apartments to townhouse-style setups,...

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15 November 2024

MarketMinute | A crystal ball into the 2025 market? See what one economist predicts

October consumer inflation data was in line with expectations. Housing costs pushed the rate up but showed signs of moderating. Wholesale inflation also came in as expected for October, keeping the Fed on track to cut the policy rate at its December meeting. Last week's jobless claims hit the lowest level since May, signaling a still-healthy demand for workers after recent storms and strikes. Purchase mortgage applications rose 2% for the week and were 1% higher than one year ago....

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8 November 2024

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....

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