GREENWAY BLOG

23 February 2024

MarketMinute | Housing Inventory is Inching Up

New unemployment claims fell unexpectedly last week, suggesting that job growth likely remained solid in February.  Minutes from their last meeting showed Fed members were more worried about the risk of cutting rates too soon than keeping them high too long. After 2 months of solid improvements, consumer sentiment hit a lull in February. Sentiment still ticked up slightly. Single-family production improved slightly in January, though a decline in multifamily construction pushed overall housing...

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20 February 2024

Pre-Qualification vs Pre-Approval: What’s the Difference?

  In the exciting journey of homeownership, understanding the distinctions between pre-qualification and pre-approval is crucial. While the terms may sound similar, their implications vary significantly, especially for eager homebuyers. In this blog, we'll examine the key differences and help you decide whether to start with a pre-qualification or jump straight into the pre-approval process. Mortgage Pre-Qualification: Testing the Waters What is Mortgage Pre-Qualification? Before fully committing to the homebuying process, getting pre-qualified acts as a preliminary step. During this phase, you provide an overview of your financial situation,...

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16 February 2024

MarketMinute | What's Gen Z's top platform for homebuying education?

Shelter prices contributed to higher-than-expected inflation for January, lowering the odds that the Fed will cut rates soon.  Fed members continued spreading the message that they are hesitant to start cutting rates yet and want to see more data first. Consumer spending fell more than expected in January, after making gains in December. Retail sales dropped 0.8%, more than the expected 0.3%. As mortgage rates rose last week, total applications fell 2.3%. Purchase apps dropped 3% for the week and...

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16 February 2024

Monmouth County, NJ’s First-Time Homebuyers Assistance Program

  Are you dreaming of owning your first home but struggling to navigate the complex world of down payments and closing costs? Look no further! The Monmouth County, NJ First-Time Homebuyers Assistance Program is here to turn your homeownership aspirations into reality. In this blog, we'll explore the ins and outs of this program, including eligibility criteria, program details, and the participating municipalities that could become your new home. Understanding the Program The Monmouth County, NJ First-Time Homebuyers Assistance Program is tailored to provide financial support to low-income families aiming to purchase an affordable home. The program offers a...

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12 February 2024

4 Things To Love About the Housing Market

  As we find ourselves in the heart of February 2024, the housing market presents a landscape filled with promising developments. Here are four compelling reasons to feel optimistic about the current state of affairs: #1 Favorable Mortgage Rates The trajectory of mortgage rates has taken a promising turn since last fall. After hitting highs, rates have descended, making homeownership more accessible for many. The Federal Reserve Board's projection of potential rate cuts further underscores this positive trend, provided inflationary risks remain manageable. Lower rates not only translate to reduced monthly payments but also signify improved affordability,...

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