GREENWAY BLOG

27 January 2023

MarketMinute | How high did home prices go in 2022?

Despite recession fears, the economy grew at a pace of 2.9% in the 4th quarter, more than the expected 2.6%. Business activity contracted for the 7th straight month in January. The downturn moderated across both the manufacturing and services sectors. Jobless claims declined again last week, this time to 186K. The drop signals labor market strength despite Fed rate hikes and talk of recession. NAR reports the median home sales price in 2022 was $386,300, up 10.2% from 2021 and the highest on record....

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20 January 2023

MarketMinute | How Much Did Mortgage Application Volume Jump?

A recent Fed survey showed the economy held steady in early January. Some regions experienced modest declines in activity. Prices for wholesale goods and services fell sharply in December, providing another sign that inflation is beginning to ease, though still high. December's retail sales fell by the most in a year, and business equipment production slumped, indicating the economy may be losing momentum. Homebuilder sentiment posted an unexpected gain in January, rising for the first time in 12...

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16 January 2023

Investment Funds May Be Hiding In Your Mortgage

  Did you know that investment funds may be hiding in your mortgage? It's true! You may have more to invest than you think.  A mortgage is the single largest liability most people ever assume. Do your realize its proper management is as important as for any investment? 30-Year vs 15-Year Loan Which is best the best option? A 30-year or a 15-year loan? Many homeowners want to pay their home loan off as soon as possible, but the value of putting their money into long-term savings and investments often trumps a rapid amortization of principal. Why pay down the balance on a home loan, only to borrow again later to pay for the kids'...

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13 January 2023

MarketMinute | Looking For Rate Predictions?

More new jobs than forecast were created in December. However, wage growth was lower than expected, helping mortgage rates. Inflation continued to slow in December, signaling prices have peaked and giving markets hope the Fed will slow the pace of interest rate hikes. Weakening demand in December led to the first services industry contraction in more than 2-1/2 years, signaling a slowing economy. Mortgage applications rose 1.2% last week over the previous week, although purchase applications were down...

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6 January 2023

MarketMinute | How Does 2023 Look for Refinances?

  Demand for employment remained high in November as companies looked for workers to fill positions despite worries of a looming recession. Minutes from last month's Fed meeting showed officials were still focused on stamping out inflation but gave few clues about future rate hikes. A December reading of the manufacturing sector showed factory activity slowing down. The prices producers paid their suppliers fell.   A large drop in mortgage applications last week made headlines....

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