Buying a home is certainly one of the biggest financial investments you’ll ever make. Keeping a home as comfortable and up to date as possible is key to loving the home you’re in. However, sometimes it’s difficult to come up with extra cash for home renovations and repairs. If you find yourself in this position, you may want to consider a cash-out refinance which allows you to tap into your home’s equity. A cash-out refinance has many benefits and so much to offer. With a cash-out refi, you can renovate your home, consolidate high-interest debts into a single, low-interest loan, buy that dream vacation you’ve been longing for and so much...READ MORE
The Fed is expected to raise policy rates by 0.5% next week. This move was previously forecast and is already reflected in mortgage rates. Jobless claims moved to the highest level since mid-January last week, totaling 229K, despite signs of an otherwise strong labor market. Credit card balances have spiked to $841 billion and hit new record levels, as consumers deal with the highest inflation in 40 years. Purchase mortgage applications fell 7% for the week and were 21% lower than the same week one year ago....READ MORE
More than ever, we have realized that our homes are so much more than the houses we live in. Over the past couple of years, they’ve become our workplaces, schools for our children, and a safe place where we’ve weathered the most challenging moments of a worldwide pandemic. From rural counties to bustling cities, owning a home offers an opportunity to lay down roots, start a family and embark on new beginnings. As National Homeownership Month kicks off this June, homeowners certainly have many reasons to celebrate. Read on to learn about the non-financial and financial benefits it has to offer. In an annual Gallup poll, Americans chose...READ MORE
The Fed’s preferred inflation gauge, the core PCE, rose 4.9% year over year in April, a deceleration from March and in line with estimates. According to ADP, May saw the fewest jobs added since the pandemic recovery began, despite a record level of job openings. Even with the hiring slowdown, demand for labor remained strong. Both new and continuing unemployment claims fell for the week. According to Case-Shiller, home prices nationally were 20.6% higher in March than in March 2021, despite higher mortgage rates....READ MORE
The value of most homes has been on the rise. If you’re in need of cash to replace the roof, update the kitchen, pay for education, or help finance a new place for the kid who’s back from college and living rent-free in the basement, your home's rising value may provide the leverage you need to make it happen! When homeowners inquire about accessing cash from their homes, they’re often thinking about getting a Home Equity Line of Credit (HELOC). However, there’s another way homeowners can get cash from their home and that’s by choosing a cash-out to refinance instead. In the current environment, many people want to keep the great...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.