GREENWAY BLOG

8 January 2025

Costs that Come With Buying A Home

  Buying a home is an exciting milestone, but it comes with financial commitments that go beyond the purchase price. Understanding these costs can help you plan and budget effectively, ensuring you’re prepared for every step of the journey. Here’s a detailed look at what to expect:         Down Payment and Earnest Money Before you even purchase the home, you’ll need upfront cash for your earnest money and down payment. While many people believe you must put down 20%, there are loan programs that require much less—as little as 3.5%, or even 0% for those who qualify. Your...

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3 January 2025

MarketMinute | Housing inventory and pending sales reached recent highs

Weekly jobless claims fell unexpectedly last week, indicating low layoffs and a healthy labor market at the end of 2024. Investors are optimistic about U.S. stock market performance in 2025, anticipating a 3rd consecutive year of growth. The economy faces a potential labor supply shock due to reduced immigration, which could strain job growth and exacerbate inflation.  Pending home sales rose 2.2% in November, marking the 4th consecutive monthly increase and a return to the highest levels since early...

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20 December 2024

MarketMinute | Why are builders optimistic for 2025?

The Fed cut policy interest rates by 0.25%. The Board signaled plans to slow rate cuts in 2025, leading to a significant jump in mortgage rates. Retail sales increased more than expected in November, consistent with strong underlying momentum in the economy as the year winds down. Revised final 3rd-quarter GDP figures show the economy grew 3.1%, more than the 2.8% initial estimate. November existing home sales posted the largest annual gain since 2021, helped by increased inventory. Activity remains...

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10 December 2024

Understanding Why Mortgage Rates Don’t Always Follow the Fed

  When most people start thinking about buying a home or refinancing, one of the first things they do is start checking mortgage rates. And that’s when they might notice something a bit strange: mortgage rates don’t always seem to follow the Federal Reserve’s actions. It’s true, while the Fed’s policies influence many aspects of the economy, they don’t directly set mortgage rates. So why do mortgage rates sometimes seem to go in the “wrong” direction, even after a Fed announcement? Here are the key factors that can cause mortgage rates to move in unexpected ways: 1. The Fed Doesn’t Directly Set...

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6 December 2024

MarketMinute | Where are home prices heading in 2025?

In October, job openings rose to 7.7 million, up 372K from September. However, a slowdown in hiring indicated a mixed labor market. Another reflection of the mixed labor market was an ADP report of lower-than-expected private payrolls growth in November. The Fed's Beige Book showed slight economic growth with subdued employment, modest inflation, and optimism about rising demand. Purchase mortgage applications jumped 6% for the week to the highest level since January, although down 21% from a year...

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