GREENWAY BLOG

20 September 2024

MarketMinute | The Fed finally cuts rates, plus more positive housing news

The Fed cut its policy rate by 0.50% this week. Mortgage rates had already fallen. Guidance suggests further improvement as the data warrants. Retail sales showed a surprise gain in August, a sign of ongoing consumer resilience that suggests the economy remains on solid footing. Jobless claims fell last week to the lowest level since May, indicating a healthy job market despite a slowdown in hiring. Homebuilder confidence edged up in September as mortgage rates fell, breaking 4 months of consecutive...

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18 September 2024

Federal Reserve Rate Cut: What It Means for You

  The Federal Reserve recently cut its policy rates by 0.50%, and Fed Chair Jerome Powell hinted at the possibility of further cuts this year. But what does this mean for you? What Did the Fed Say? The Fed's latest statement highlighted a cooling job market and easing inflation. They believe that cutting the policy rate can encourage private sector spending without risking a spike in inflation. While Powell is optimistic about future rate cuts, he emphasized that upcoming decisions will depend on the latest data. Will Mortgage Rates Drop? The Fed doesn’t directly set mortgage rates, but investors often anticipate Fed actions. Mortgage...

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13 September 2024

MarketMinute | Rate movement news homebuyers will love

Inflation declined in August, reaching its lowest level since February 2021 and setting the stage for an expected policy rate cut from the Fed. Jobless claims rose marginally last week to 230K. The pace of layoffs remains low even as the labor market shows signs of cooling. Wholesale prices showed a mild increase of 0.2% in August, reinforcing indications the inflation rate is returning to low pre-pandemic levels. August’s shelter inflation rate was down from its 8.2% peak in March 2023, but the...

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6 September 2024

MarketMinute | Housing Affordability is Improving

The Labor Department reports July job openings slumped to their lowest level since January 2021. In another sign of a slowing labor market, companies added fewer new jobs in August than any month since the start of 2021, according to ADP. However, the US services sector expanded at a modest pace for a 2nd month in August, though there are signs momentum is fading. Mortgage refinance demand is 94% higher than a year ago. Purchase apps rose only 3% for the week and were 4% lower than a year ago....

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1 September 2024

New Real Estate Compensation Rules: How They Impact Buyers, Sellers, and Agents

  Changes to Real Estate Transactions: What You Need to Know As of August 17, 2024, there are new requirements for real estate transactions that could impact your buying or selling experience. Here’s what you need to know to navigate these changes smoothly: What’s New? For Buyers: Written Agreement Required: Before touring homes, either in person or online, you will need to sign a written agreement with your real estate agent if they use the MLS (Multiple Listing Service). This agreement outlines the services the agent will provide and the associated costs. No Agreement Needed for Open Houses: You can still...

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