St. Louis Fed President James Bullard says he sees the unemployment rate possibly falling to 7% in 2020. The prediction was part of a generally optimistic view on the economic recovery. Mortgage rates, as tracked by Freddie Mac, hit a record low for the 6th time since the coronavirus outbreak. Rates are likely to remain low as confirmed cases continue to rise. Initial jobless claims fell last week, but a record 32.9 million were collecting unemployment checks, as the labor market continued recovery from the COVID-19 slump....READ MORE
So, you’re thinking about buying your first home? It’s an exciting time! But before you hit the payment to start shopping there’s a few things you need to know. Understanding your budget should be one of the first steps in the home buying process. You'll also certainly want to get pre-approved for a mortgage before you start house hunting. Why Should I Get Pre-Approved First? Getting pre-approved will save yourself the grief of looking at houses you can’t afford and put you in a better position to make a serious offer when you do find the right house. And the good news is, g etting pre-approved for a...READ MORE
Consumer confidence jumped more than expected in June, as loosened stay-at-home and quarantine restrictions raised hope for an economic recovery. The labor market rebound accelerated in June with the gradual re-opening of the economy. Payrolls rose by 4.8 million, and unemployment fell to 11.1% from more than 13% in May. Fed minutes released from last month's meeting noted a need for "highly accommodative monetary policy for some time," which signals mortgage rates should remain low. ...READ MORE
Mortgage rates continue to hover at record lows, and the FHFA reports April home values up 5.5% over last year. Low rates and strong prices create opportunities for homebuyers and owners. The International Monetary Fund now expects the U.S. economy to contract by 8% this year, more than the 5% they forecast in April. Negative growth can keep rates low. Initial jobless claims were 1.48 million last week, lower than the previous week but above expectations. Continuing claims declined more than expected to 19.5 million. ...READ MORE
Owning a home is one of the biggest investments of your life and when you plan to sell, you’ll want to make a profit. Often, that means figuring out how to increase your home’s value. Homeowners know that when you own, it never seems to be quite finished. In the quest to make it is as comfortable, functional, and up-to-date as possible, there is always something that needs to be repaired, replaced or improved! You don’t have to call in a professional and spend a fortune to complete projects that add value to your home. In fact, there are many smaller improvements that you can do yourself and there’s something for everyone - cheap and easy...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.