The economic recovery gained steam through the 1st quarter, as a rush of consumer spending helped push annual GDP growth to an estimated 6.4%. The Fed left policy rates unchanged at this week's meeting and reiterated plans to maintain the current pace of bond buying, which will help keep mortgage rates low. Jobless claims fell last week to a fresh pandemic-era low as more people got vaccinated and returned to work, signaling the job market is steadily returning to pre-pandemic strength. New home sales...READ MORE
Surging demand stemming from the coronavirus pandemic led sales of consumer packaged goods — like toilet paper and canned soup — to climb 9.4% to $1.53 trillion last year. The European Central Bank announced this week it will continue to buy bonds to support the eurozone economy, indirectly supporting U.S. bonds and helping keep rates low. Jobless claims last week hit a pandemic low, falling to 547,000. Continuing claims also fell, showing the job market continues to rebound. Existing home sales suffered a 2nd straight monthly...READ MORE
Condos come with many perks, but they aren't for everyone. However, they can be a great way to dive into homeownership without worrying about all the upkeep that comes with a single-family home or townhome. And, condo owners can also take advantage of shared amenities, plus having professional management to take care of building maintenance is always a key benefit -or at least we think so! Whether you should buy a condo, a home, or rent really comes down to where you are in life, and what your preferences are. Today, let’s tour the benefits of why a condo might be a great path to homeownership. What is a Condo? Short for condominium, a condo is a...READ MORE
Consumer prices rose more than expected in March, up 0.6% from February and 2.6% from a year ago. However, the Fed expects inflation to be transitory and is not concerned. Retail sales surged 9.8% in March over February, boosted by stimulus funds, warmer weather, and the removal of some pandemic related restrictions. Jobless claims fell last week to the lowest level since March 2020, when the pandemic began. The decrease in claims shows the labor market continues to improve. Home builder confidence increased slightly in April,...READ MORE
Stocks are once again hitting new record highs regularly, as they were before the pandemic. Investors remain optimistic about the recovering economy. The minutes from last month's Fed meeting released this week reiterated the commitment to maintaining easy policy until we see stronger employment and inflation. Continuing jobless claims were down last week, though initial jobless claims jumped for the 2nd week, underscoring the uneven nature of the labor market recovery. President Biden's new infrastructure plan includes a $5...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.