GREENWAY BLOG

2 April 2024

A Closer Look at NAR's Lawsuit Settlement Agreement

  There could be more flexibility in fees! The National Association of Realtors (NAR) recently settled a global lawsuit regarding agent compensation policies and home listing requirements. With court approval, the changes are scheduled to go into effect in mid-July 2024. What are current practices? Home sellers typically pay commissions to both their own agent and any buyer's agent. Commissions vary but are commonly 5% to 6% of the sales price. Selling agents using the NAR's Multiple Listing Service (MLS) show the amount a buyer's agent will earn from the sale. The major changes include: The seller will no longer...

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29 March 2024

MarketMinute | Discover Hints of An Improving Spring Market

Business investments rose, and durable goods orders rebounded in February, possible early signs of a revival in manufacturing.  The economy grew faster than previously estimated in the 4th quarter, lifted by strong consumer spending and business investment. Jobless claims fell slightly last week and continued to hover at very low levels, demonstrating sustained labor market strength. Sales of newly built homes fell slightly in February after mortgage rates increased. However, sales were up 5.9%...

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22 March 2024

MarketMinute | Home Sales and Prices Spiked in February

The Fed left policy rates unchanged at this week's meeting. The Board stood by its earlier projection of 3 rate cuts in 2024.  Unemployment claims fell unexpectedly last week, suggesting job growth has remained strong in March. The S&P Global Manufacturing and Services reports showed continued healthy rates of expansion for the private sector in early March. February home sales spiked 9.5%, the largest monthly gain in a year, as supply improved. The median home price rose 5.7% to...

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20 March 2024

Managing Rising Debt: How Mortgage Refinancing Offers Relief

  There are countless reasons to stay awake at night: dreaming of your next vacation, getting lost in a good movie, or delving into an interesting podcast. But one thing that shouldn't keep you up? High-interest debt. US households have been facing a significant increase in non-mortgage debt payments, nearly matching what they traditionally spend on mortgage interest. According to an article from Bloomberg.com: “Non-mortgage interest payments climbed to an annual rate of $573.4 billion in January. That’s the highest on record even after adjusting for inflation — and within a hair’s breadth of the $578.3 billion in annual mortgage...

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16 March 2024

Spring Homebuying Guide: Navigate the Competitive Market with Confidence!

  Whether you're a seasoned home buyer or embarking on your first home-buying journey, the spring real estate market of 2024 is full of opportunities and challenges alike. At Greenway Mortgage, we're committed to ensuring you have a smooth and successful home buying experience, every step of the way. As interest rates begin to shift and inventory remains tight, preparation is key to staying ahead in this competitive market. That's why we've created a comprehensive Spring Guide to Buying a Home specifically tailored to help you navigate the complexities of today's real estate landscape with confidence.   Why Preparation...

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