GREENWAY BLOG

25 June 2024

5 Effective Ways to Reduce Home Costs for Affordable Living

  Worried about affording a home? You're not alone. Homeownership may seem out of reach, but with the right strategies, you can turn that dream into a reality. Here are 5 effective approaches to help you turn your homeownership dreams into reality: Don't go at it alone: Combine your purchasing power with a coborrower's. It's common for couples to borrow together, yet it's possible to have "non-occupant co-borrowers" too. You can even have more than 2 coborrowers on one mortgage loan. Consider a Hybrid: Increase your buying power with the lower starting rate of a mixed loan program. You'll have a fixed rate and...

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21 June 2024

MarketMinute | How are rates impacting new home construction?

Retail sales rose 0.1% in May, coming in weaker than expected as consumers continued to wrestle with stubbornly high levels of inflation.  New jobless claims fell from their 10-month high last week, but continuing claims rose for the 7th straight week. Fed officials continue to signal that rate cuts aren't likely until more data supports trends toward cooler inflation and higher unemployment. New home construction slumped in May to its slowest pace in 4 years. Higher mortgage rates sapped the...

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14 June 2024

MarketMinute | What's most surprising to new homeowners?

Wholesale inflation unexpectedly declined the most in 7 months, adding to evidence that inflationary pressures are moderating.  Inflation cooled more than expected in May, dropping for the second straight month. Prices were flat for the first time since July 2022. The Fed left its policy rate unchanged at this month's Fed meeting and signaled it may cut rates 1 or 2 times by the end of the year. Anji.com found 19% of owners were most surprised by the cost of improvements during the first 6...

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7 June 2024

MarketMinute | Are these the signs of slowing that led to lower rates?

The services sector snapped back into growth mode in May after a short-lived April contraction, improving by the most in 3 years.  Private employers added the fewest jobs last month since January, and small businesses shed jobs for the first time in 6 months. The ISM Manufacturing Index hinted at a stalled economy in May. The Index fell to a 3-month low based on lower anticipated demand. Construction spending fell unexpectedly for a 2nd month in April, though investment in single-family home...

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4 June 2024

Trading Down Your Home: Is Now the Right Time?

  With listings harder to find and prices still strong, it may be a good time for homeowners who are still in their larger-than-needed homes to sell. The current real estate market offers a unique opportunity to unlock substantial equity, which can be a prudent move towards better enjoying your retirement. The Benefits of Trading Down Can Include: A Newer Home May Require Less Maintenance Moving to a newer, smaller home often means less maintenance and fewer repairs. This can be especially beneficial for retirees who want to spend their time enjoying life rather than managing home upkeep. Reduced Exterior Maintenance Some homes, such...

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