GREENWAY BLOG

11 November 2022

Fed Increases Rates This November

  Let's look beyond the Fed rate increase. As expected, the Fed raised policy rates by 0.75% at their November meeting.  That's not the most interesting thing. Investors were hoping the Fed would signal it's ready to ease off the current pace of rate hikes. And that's what happened. The Fed's statement hinted the Committee may pull back to allow time for the economy to feel the impacts of changes, though it's still committed to using rate increases to tame inflation. As usual, there's no need to assume mortgage rates will rise the same amount as the Fed's rate boost. Other market forces are also at play, and rates often...

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4 November 2022

MarketMinute | Why Are Americans Moving Further?

The Fed raised policy rates by 0.75% this week and signaled that future hikes may be smaller but rates may go higher than initially expected. Manufacturing neared stagnation in October as orders contracted for the 4th time in 5 months, reaching the lowest level since May 2020. According to ADP, wages increased 7.7% and companies added 239K jobs in October, more than expected, showing strength in the labor market. Construction spending unexpectedly rebounded in September, despite a further decline in...

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28 October 2022

MarketMinute | Home Price News

Consumer confidence ebbed in October after 2 straight monthly increases, reflecting concerns about inflation and a possible recession. The economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing recession fears. Weekly jobless claims edged higher to 217K but were still below the 220K estimate and still signaled a strong labor market. Despite cooling at a record pace in August, home prices were 13% higher nationally than last year, according to...

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26 October 2022

What is a 2-1 Buydown Loan? 

  When interest rates were at historic lows, a typical fixed rate mortgage loan was all most people needed. Now, rates have risen. They’re still below long-term averages, yet appreciably higher than before. And of course, higher interest rates lead to higher monthly payments. Here at Greenway Mortgage, we recognize the rising rate environment and how homeownership may feel out of reach for some. That’s why we now offer a 2-1 Buydown Program to help counteract the trend towards higher rates. It’s what everyone’s talking about these days, a 2-1 Buydown.  We’re sure you’ve probably heard of it, but you may not know exactly what...

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25 October 2022

Truth About Mortgage Rates

  Don't let rate news lock you out! Mortgage rates are trending upward. Does that mean you should wait to finance , refinance or access cash from equity ? Maybe. But maybe not. Here's a short video to tell you more about the interest rate environment from our perspective.                     The thing is, people still have home financing needs, even with rising rates. In many cases, we are able to help. In all cases, we're able to have an honest discussion about the available options for a particular scenario.  If your...

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