Please enjoy this quick update on what happened this week in the housing and financial markets. The economic fallout from the now pandemic COVID-19 coronavirus continues to grow. Stocks have plummeted globally and have now entered a bear market. Mortgage rates have recently spiked higher, despite stocks' losing ground. The media will be late reporting this, as most won't see it until next week's Freddie Mac rate survey. Central banks around the world are announcing stimulus plans to combat the global economic slowdown from the virus. The Fed meets next week and is likely to announce something. The FHFA...READ MORE
In today’s market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. Here are five tips from realtor.com ’s article , “How to Find Your Dream Home—Without Losing Your Mind.” 1. Get Pre-Approved for a Mortgage Before You Start Your Search One way to show you’re serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage. Even if you’re in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your...READ MORE
Please enjoy this quick update on what happened this week in the housing and financial markets. Panic surrounding spread of the coronavirus and the global economic fallout have stocks plummeting. Investors seeking safe havens have turned to bonds, improving mortgage rates. The 10yr Treasury yield has reached record lows, falling below 1.0% for the first time in history. Markets are now extremely volatile, whipsawing between huge losses and gains. The Fed made an emergency policy rate cut of 0.5% this week. This cut to the Fed funds rate does not bring mortgage rates lower but is supposed to stimulate the economy. ...READ MORE
Are you one of the many millennials who sees your friends and family diving head first into the real estate market and are wondering if now is the time for you to do the same? The “cost of waiting to buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time. Let’s take a look at some predications: Freddie Mac forecasts that interest rates will rise to 3.8% by Q4 2020. In addition, CoreLogic predicts that home prices will appreciate by 5.4% over the next4 12 months! So… perhaps it is time to lose the lease in 2020 to save yourself from rising rents and own your...READ MORE
Please enjoy this quick update on what happened this week in the housing and financial markets. Investors are increasingly worried about the spread of the coronavirus outside China. Concerns over the economic impact of the virus are helping rates remain low. Producer prices increased by the most in more than a year in January, but most of the uptick appeared to reflect temporary price swings instead of an underlying increase in inflation. Jobless claims rose modestly last week, suggesting sustained labor market strength that could help support the economy amid risks from the coronavirus. Builder...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.