Greenway Mortgage Blog

17 February 2023

MarketMinute | How will the Fed respond to good economic news?

The inflation rate dropped slightly in January but came in higher than expected. Core inflation without energy and food was up slightly. Retail sales jumped 3% in January, smashing expectations. No categories saw a decline, following a December in which sales fell 1.1%. Forecasts for future Fed rate hikes have increased on the stronger economic data, with rate hikes now expected through June. NAHB’s Homebuilder Sentiment Index improved in February by the largest amount in a decade due to an uptick in demand....

10 February 2023

MarketMinute | How Are Homebuyers Dealing With Higher Rates?

Unemployment hit a 53-year low last month, with over 500k new jobs created. The labor market remains strong despite the Fed rate hikes. Mortgage rates rose as markets began anticipating 2 additional Fed rate hikes that would raise the policy rate to at least 5%. After constricting in December, the ISM service sector index came in higher than expected in January, a hopeful economic sign. Although still lower than a year ago, purchase mortgage applications rose 3% for the week. Refi apps were up 18%....

7 February 2023

How to Choose the Best Mortgage for You

Borrowers typically know about 30- and 15-year fixed rate mortgage loans, yet there are dozens of different loan types beyond just those. Mortgage planning, like financial planning serves many needs. Our mission is always to tailor the right mortgage program or strategy to best suit the overall goals of our clients. Do you need the lowest possible housing payment to maximize other investments? A 30-year fixed rate loan will probably help. Do you need to leverage potentially tax-advantaged funds to pay for major home improvement? A cash-out refi and home equity line of credit are just two possibilities. Are you looking for a...

3 February 2023

Rate Watch: Fed Increases Rates

The Fed announced another hike. As expected, the Fed raised policy rates by 0.25% at their February meeting. This is the smallest increase of the eight made in the last 11 months. More "interesting" is the Fed's signal regarding future increases. The Fed statement released after the meeting hinted that ongoing rate increases are anticipated before inflation is brought to the Fed's target of 2.0%. Investors were hoping the Fed would back off of that sentiment. Please Note: Mortgage rates are impacted by market forces beyond Fed actions and will not necessarily change at the same pace as the Fed's moves. They often shift before the...

31 January 2023

The Housing Market in 2023: Your Questions Answered

We are well into the new year now and the housing market is still experiencing constant shifts and changes which leaves many people wondering what will mortgage rates be like in 2023 and will home prices decline? We have the answers and insight to all these questions and more. Let’s take a look! How will mortgage rates trend in 2023? There are reasons to be optimistic that rates will be improving in 2023. As we all saw, rates more than doubled in 2022. Many forecasters indicate that rates will drop below 6% sometime in 2023. The last Federal Reserve rate hike was only 50 bps instead of the 75 bps of the last few hike s, as inflation is...

GREENWAY BLOG

MarketMinute | How will the Fed respond to good economic news?

MarketMinute | How Are Homebuyers Dealing With Higher Rates?

How to Choose the Best Mortgage for You

Rate Watch: Fed Increases Rates

The Housing Market in 2023: Your Questions Answered