GREENWAY BLOG

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

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

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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MarketMinute | Are rates impacting sales?

MarketMinute | Are rates impacting sales?

Minutes from last month's Fed meeting showed most members felt a policy rate cut would be appropriate at the next meeting. Markets are already fully pricing in a September cut, which would be the first since the emergency easing in the early days of the pandemic. Unemployment applications barely rose last week. The 4-week average, which smooths out some volatility, fell to its lowest level in a month. Fannie Mae economists say the recent decline in mortgage rates is not enough to increase the number...

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Understanding Rate Locks: Why Longer Locks Come with Higher Costs

Understanding Rate Locks: Why Longer Locks Come with Higher Costs

  Understanding Rate Locks: Why Longer Locks Come with Higher Costs When you apply for a mortgage, one of the most crucial decisions you'll face is locking in your interest rate. But why do longer rate locks tend to cost more? It all comes down to risk—both for you and the lender. The Role of Interest Rate Fluctuations Between the time you apply for a loan and the moment you close, interest rates will fluctuate. Sometimes, these changes are subtle, but they can also be quite volatile, even shifting from one minute to the next. Locking in your rate serves as a safeguard against rising rates, much like purchasing an insurance policy....

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MarketMinute | Are rates impacting sales?

MarketMinute | Are rates impacting sales?

Minutes from last month's Fed meeting showed most members felt a policy rate cut would be appropriate at the next meeting. Markets are already fully pricing in a September cut, which would be the first since the emergency easing in the early days of the pandemic. Unemployment applications barely rose last week. The 4-week average, which smooths out some volatility, fell to its lowest level in a month. Fannie Mae economists say the recent decline in mortgage rates is not enough to increase the number...

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Cutting the Rate on Consumer Debt Can Pay Off

Cutting the Rate on Consumer Debt Can Pay Off

  When people think about refinancing, they often focus on lowering their mortgage interest rate. But what if the opportunity to lower your interest rate applied to your consumer debt rather than your mortgage? While it’s natural to be hesitant about altering a low mortgage rate you currently enjoy, consider this: credit card rates have surged, averaging 22.76% as of May 2024.* This increase in rates can make managing consumer debt a financial burden, even if your mortgage rate remains low. Here’s where refinancing can offer significant benefits. If you have substantial consumer debt and sufficient home equity, refinancing your mortgage to a higher,...

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