For the Week Ending September 6, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. The August ISM manufacturing index fell to 49.1%, the lowest reading in 3+ years. A reading below 50% indicates contraction in manufacturing activity. Private payrolls rose more than anticipated, according to ADP. The private sector added 195,000 jobs in August, better than the expected 149,000 increase. The economy grew at a modest pace...READ MORE
Did you know that a good credit score can save you hundreds of dollars a month on mortgage payments – and possibly tens of thousands over the course of your loan? When a borrower has a high credit score, this gives lenders confidence in their ability to repay the loan. In turn, the higher it is, the lower the interest rate they’ll be willing to give you. What is a Credit Score? A credit score is a 3-digit number generated by a mathematical algorithm using information in your credit report and is designed to predict risk. A consumer has 3 FICO scores, one for each credit report: Equifax, Experian and TransUnion. FICO scores range from 300 to 850, where a...READ MORE
The purchase of your first, or even a new home is one of the biggest investments you’ll make in your life. It’s easy to get distracted by all the listing photos available as you scroll through Realtor.com or Zillow, and while a great kitchen is important, it’s the information you won’t find in a photo that can really help ensure you’re making a solid investment for years to come. Here are 5 things to consider when finding the right location for your new home: 1. Increased Household Incomes – look at census data to help find the median household income in a neighborhood you might be considering. Surrounding yourself with neighbors who make a higher...READ MORE
For the Week Ending August 23, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. The Fed released the minutes from July's FOMC meeting, where it cut policy rates by 0.25%. The minutes showed support for future rate cuts only if necessary. Stocks climbed on strong earnings reports from retailers this week. Gains in earnings highlight consumer confidence and ease fears of a slowing economy. Jobless claims fell...READ MORE
For the Week Ending August 16, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Stocks plummeted this week as 10yr Treasury yields fell below those for 2yr bonds. The resulting inverted yield curve could indicate a coming recession. Retail sales surged in July, which could ease worries of a pending recession. Inflation also picked up slightly in July as consumer prices increased. Despite the recent...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.