GREENWAY BLOG

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

MarketMinute | Good news for buyers! Inventory and price cuts are on the rise

MarketMinute | Good news for buyers! Inventory and price cuts are on the rise

The labor market softened in July. Just 114K new jobs were added, and unemployment rose to 4.3%, the highest level since October 2021. Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession, as freight demand remains robust. Markets now anticipate the Fed will begin slashing policy rates with a half-point cut in September and a full point by year's end.  Realtor.com reports home sellers slashed prices in July at the fastest pace in 2 years, with...

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How to Avoid First-Time Homebuyer Fatigue

How to Avoid First-Time Homebuyer Fatigue

  In today’s competitive real estate market, where demand often surpasses the supply of available homes, buying a house can feel like a marathon rather than a sprint. If you’re not fortunate enough to find a budget-friendly home immediately and have your first offer accepted, you may experience buyer’s fatigue. This can lead to frustration-fueled decisions or even giving up on the process altogether. To help you stay on track, here are some common mistakes fatigued homebuyers make and how to avoid them. Mistake #1: Skipping Pre-Approval One of the best ways to prevent homebuying fatigue is to set yourself up for success from the beginning by...

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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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