GREENWAY BLOG

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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25 October 2022

3 Biggest Questions About Real Estate and Mortgages

  As we near the end of 2022, the housing market is still in a constant state of shifts and changes. Some bigger or more impactful than others, but the truth remains the same: while we wish we had a crystal ball, we’ll never be able to predict what’s going to happen. However, one thing will always remain constant: people will always need a place to call home. There are three big questions in real estate and in the mortgage industry right now. We’ll cover them here. So, before you hit the panic button, give this a read! Will Mortgage Rates Continue to Rise? To answer this question, it’s important to understand the why behind the...

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21 October 2022

MarketMinute | Housing Market Bright Spots

Jobless claims fell last week to 214K, indicating the labor market remains tight even as demand for labor is cooling. Consumer spending was basically flat in September, up only 0.4% compared to August, but retail sales were still up 8.2% from a year ago. Fed members this week continued emphasizing the need to raise rates into 2023 to curb inflation, even if it causes a recession. Existing home sales fell to the slowest pace since September 2012. The 8th straight month of declines came as mortgage rates...

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