GREENWAY BLOG

14 October 2022

MarketMinute | Mortgage Rates and Prices Rising At The Same Time?

Both wholesale and consumer inflation reports showed inflation continued to rise in September despite multiple Fed rate increases. The labor market remains strong. Nonfarm payrolls increased more than expected in September, and unemployment fell to 3.5%. Jobless claims were up slightly last week. Claims reached their highest level since August but still showed a stable labor market. Purchase mortgage applications dropped 2% for the week. The average purchase loan fell below $400K for the first time...

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7 October 2022

MarketMinute | How are home prices looking?

Manufacturing activity grew at its slowest pace in nearly 2-1/2 years in September. New orders contracted amid aggressive Fed rate increases. The services industry sector slowed modestly in September, suggesting underlying strength in the economy despite rising interest rates. Fed officials this week continued to spread the message that Fed rate policy needs to remain aggressive until inflation is under control. Purchase mortgage applications fell 13% for the week and were a steep 37% lower year over...

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4 October 2022

Fall Home Maintenance Checklist

  It would be amazing if all you needed to prep your home for fall was hang a wreath and light a bunch of pumpkin spice candles. While yes, those  are  a part of getting ready for the change of seasons, there are more important preparations that come with being a homeowner.  With that said, fall is the perfect season to tackle general home maintenance projects because the weather is generally dry and temperatures are moderate. Before you start your seasonal home maintenance checklist , examine both the interior and exterior of your home. Most of these home maintenance items can be accomplished without the help of a professional, but...

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30 September 2022

MarketMinute | New Home Sales Surprised In August

Orders for capital goods increased in August, suggesting businesses remained keen to invest in equipment despite higher interest rates. Consumer confidence rose for a second straight month in September, supported by a resilient labor market and falling gasoline prices. The 10-year Treasury yield topped 4% this week for the first time in more than a decade, signaling that rates may not have peaked yet. Home prices in July were still higher than they were a year ago but cooled significantly from June...

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27 September 2022

Conforming Loan Limits Increase to $715,000

  At Greenway Mortgage, we’re passionate about opening doors for home buyers. Recording-breaking home price appreciation in 2021 and 2022 has resulted in an increase in conforming loan limits. To reflect changing home prices and to increase home buying power, we’ve increased our Conventional Mortgage loan limits to $715,000 which will give buyers more wiggle room to qualify! Loan Limits Just Got Higher Previously, conforming loans were available up to 647,200. With recent changes, that limit has increased to $715,000! 1 Unit: $715,000 2 Units: $916,000 3 Units: $1,107,000 4 Units: $1,376,000 What can this...

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