GREENWAY BLOG

2 May 2024

Rate Watch: The Fed holds rates steady and offers hints for the future

  When will the elusive rate cuts arrive?  As expected, the Federal Reserve Board left policy rates unchanged at their most recent meeting. Investors – those who actually control mortgage interest rates – were listening for hints of future action.   Are rate cuts still on the board for 2024? In March, Board members projected three policy rate cuts in 2024. At the May 1st press conference, Chairman Jerome Powell reaffirmed the Board's commitment to reaching 2% inflation. He also said, given current data, the Board expects achieving this goal to take longer than previously thought. As always stated, Powell affirmed that...

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1 May 2024

Top 5 Home Renovations

  Love it or List It? We've all played out that scenario in our minds at some point, haven't we? The choice between renovating your current home or hunting down the perfect fully renovated dream home. Whichever path you choose, one thing's for sure: a well-executed home renovation can work wonders for your space, not only enhancing its charm but also boosting its resale value. However, not all renovations are created equal in terms of maximizing your return on investment (ROI). So, which upgrades are worth their weight in gold? We've got the lowdown on the top five in today's blog and provide solutions to help finance these projects. Let’s dive...

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26 April 2024

MarketMinute | Buyers make moves despite higher rates

Orders for durable goods jumped 2.6% in March, mostly in transportation. Limited increases elsewhere signaled manufacturing weakness.  The economy grew last quarter at the slowest pace in 2 years. Consumer and government spending cooled amid a sharp uptick in inflation. The first-quarter measure of underlying inflation advanced at a greater-than-expected 3.7% clip, the first quarterly acceleration in a year. Sales of newly built single-family homes, which make up about 10% of the market, jumped...

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19 April 2024

MarketMinute | Mortgage apps rise despite higher rates

Retail sales jumped 0.7% in March, much more than expected. It was the 2nd straight monthly increase and another sign of a resilient economy.  As progress stalled on lowering inflation, Fed officials signaled they are likely to keep rates higher for longer this year. Last week’s jobless claims were flat at 212K, showing no signs of rising layoffs in the strong labor market. Builder sentiment was flat in April as mortgage rates hovered close to 7% and 1st quarter inflation data failed to show...

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15 April 2024

The True Value of Homeownership: Understanding Payment vs. Cost

  A lot of would-be homeowners are waiting to buy due to higher interest rates. That can be wise, if the payments are simply out of reach, yet current rates alone should never keep you from making a move. After all, ownership can still have financial benefits. Homeownership Has Financial Benefits How? The real cost of owning is less than the payment and the long-term benefits typically remain regardless of where rates are when you buy. Just look at where rates have been in the past. Recent rates have simply been close to the long-term average. Housing Market in 1990 To see how ownership at higher rates is still beneficial, let’s go back in...

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