GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

Can You Drop PMI to Pay for a HELOC Instead?

Can You Drop PMI to Pay for a HELOC Instead?

  As your loan balances decrease through regular payments and your home values increase over time, you may become eligible to eliminate your Private Mortgage Insurance (PMI). PMI can add hundreds of dollars to your monthly expenses. By removing it, you can keep that money in your pocket instead. Moreover, if you now have sufficient equity to drop PMI, you also have enough to secure a Home Equity Line of Credit (HELOC). A HELOC is a versatile financial tool that can be used for a variety of purposes, from funding home improvements to financing higher education. No Immediate Need For Cash? This is where the beauty of a HELOC truly shines. A HELOC can...

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MarketMinute | Fed Rate Actions and Home Price Movement

MarketMinute | Fed Rate Actions and Home Price Movement

The Fed kept its policy rate unchanged at this week's FOMC meeting but kept alive hopes for at least one rate cut this year.  Job openings fell to a 3-year low in March, and fewer people quit their jobs. Declining labor market conditions could be good for rates. Consumer confidence dropped to a 21-month low in April, falling for the 3rd straight month amid concerns about the cost of food and gas. The FHFA House Price Index climbed at a faster than expected 1.2% rate for the month in...

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Rate Watch: The Fed holds rates steady and offers hints for the future

Rate Watch: The Fed holds rates steady and offers hints for the future

  When will the elusive rate cuts arrive?  As expected, the Federal Reserve Board left policy rates unchanged at their most recent meeting. Investors – those who actually control mortgage interest rates – were listening for hints of future action.   Are rate cuts still on the board for 2024? In March, Board members projected three policy rate cuts in 2024. At the May 1st press conference, Chairman Jerome Powell reaffirmed the Board's commitment to reaching 2% inflation. He also said, given current data, the Board expects achieving this goal to take longer than previously thought. As always stated, Powell affirmed that...

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Top 5 Home Renovations

Top 5 Home Renovations

  Love it or List It? We've all played out that scenario in our minds at some point, haven't we? The choice between renovating your current home or hunting down the perfect fully renovated dream home. Whichever path you choose, one thing's for sure: a well-executed home renovation can work wonders for your space, not only enhancing its charm but also boosting its resale value. However, not all renovations are created equal in terms of maximizing your return on investment (ROI). So, which upgrades are worth their weight in gold? We've got the lowdown on the top five in today's blog and provide solutions to help finance these projects. Let’s dive...

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MarketMinute | Buyers make moves despite higher rates

MarketMinute | Buyers make moves despite higher rates

Orders for durable goods jumped 2.6% in March, mostly in transportation. Limited increases elsewhere signaled manufacturing weakness.  The economy grew last quarter at the slowest pace in 2 years. Consumer and government spending cooled amid a sharp uptick in inflation. The first-quarter measure of underlying inflation advanced at a greater-than-expected 3.7% clip, the first quarterly acceleration in a year. Sales of newly built single-family homes, which make up about 10% of the market, jumped...

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