GREENWAY BLOG

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

MarketMinute | What did rates do after the Fed meeting?

MarketMinute | What did rates do after the Fed meeting?

The Fed kept its policy rate unchanged at this week's meeting but signaled cuts could come as soon as its next meeting in September. Consumer confidence picked up unexpectedly in July but stayed in the tight range of the past 2 years amid lingering inflation worries. Job openings fell slightly in June, and rates of hiring and quits were both the lowest since 2020, all signs of a softening labor market.  Pending home sales rebounded in June. Increased supply and moderating mortgage rates helped...

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FHA 203K Home Purchase and Rehab In One

FHA 203K Home Purchase and Rehab In One

  With the FHA 203K, you have options Most mortgage loan programs require a property to be in sound condition with no structural defects or required repairs. Not the FHA 203k. It's made for homes needing anything from a light spruce up to major repairs, improvements or new additions. Combine Purchase and Improvements: The 203k loan covers your purchase price and the cost of improvements. The proposed work must be supported by a "value upon completion" appraisal. You can save by financing renovation costs into the original mortgage rather than racking up credit card bills or dipping into reserve savings later. Create the...

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MarketMinute | Is greater supply bringing prices down?

MarketMinute | Is greater supply bringing prices down?

Economic growth accelerated by more than forecast in the 2nd quarter. The 2.8% initial reading doubled the 1st quarter's 1.4% growth rate. Jobless claims remained above 220K for the 9th straight week. The 4-week continuing claims average rose to its highest level since December. Markets continue to speculate the Fed will not cut its policy rate at next week's meeting but will start reducing rates in September.  Home prices continued their rise and set a new high in June. The median price of...

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Financing Home Improvements Without Losing Your Current Rate

Financing Home Improvements Without Losing Your Current Rate

  If you’re lucky enough to have a low, pandemic-era mortgage rate, congratulations! You’re benefiting from record low interest expenses and likely have accumulated a fair amount of equity, too! As time passes since your purchase, you may be considering financing some repairs or improvements to your home. Here are a few ways to access cash from your equity without losing your current interest rate: #1: Home Equity Loans or Lines of Credit: A home equity loan or HELOC allows you to borrow up to 95% of your home’s value beyond your current loan(s). This option typically offers lower interest rates compared to other loans and can be a flexible...

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2024 Mid-Year Housing Update

2024 Mid-Year Housing Update

  For many would-be homebuyers and sellers, 2024 has been a waiting game. Overall, both groups are looking for lower interest rates. And while mortgage rates have fallen from their recent highs, they are still dampening affordability for buyers and keeping current owners locked in.   There's more to the market than meets the eye. We're still helping homeowners and homebuyers every day. And if you need us, we're here to help you too. Here's our take on where things stand today: Homeowners with a mortgage loan have an estimated $16.9 trillion in home equity.* Values are still rising this year, though at a slower pace....

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