GREENWAY BLOG

15 July 2022

Mid-Year Mortgage Update

  Believe it or not, this ride isn't as scary as it may seem! The media is talking about escalating home prices, rising mortgage rates and past housing bubbles. Let me tell you what we're seeing from the trenches of home financing. I think you'll like it. Price growth is slowing. After a record run of frenetically rising home prices, gains are slowing down. Homeowners still have newfound equity in their homes, and moderated prices can help new buyers. Mortgage rates remain in the "low" range. After a couple of years with extraordinarily low mortgage rates, 2022 has seen some increases, yet rates are still well below...

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12 July 2022

Jumbo Mortgage Program

  Our Jumbo Loans Are Sizzling Hot! Jumbo loans are in high demand especially in today's competitive housing market. It might be because of their competitive interest rates and flexible loan requirements. But it’s more than that. Since the pandemic hit many people have spent more time than ever at home and have soon realized the need for more space. Naturally, bigger houses come with a higher price tag and often require a bigger loan. Que Greenway’s Jumbo Mortgage Program which may just be the solution you’re looking for to get you closer to the home of your dreams. Whether you’re buying your forever home or a vacation house,...

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8 July 2022

MarketMinute | Which front door color can add value to a home?

Minutes from the Fed's June meeting showed it remains committed to bringing down inflation and will raise rates at the July meeting. Jobless claims rose unexpectedly last week amid growing signs that demand for labor is cooling. Layoffs surged to a 16-month high in June. It's a big week for jobs data, but investors will be missing the important ADP data report, as ADP is revamping it this summer. The average cost for materials to build a single-family home jumped 42% from 2018 to 2021, adding...

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5 July 2022

Private Mortgage Insurance What Is It and When Can You Cancel PMI?

  If you’ve purchased your home with a down payment lower than 20% of the purchase price, you’re likely paying each month for private mortgage insurance (PMI). We’ve got all the details on PMI, why you need it, how it’s paid, when you can cancel, and more. What Exactly is Private Mortgage Insurance? Private Mortgage Insurance, also called PMI, is a type of insurance you may be required to pay for if you have a conventional loan. PMI protects the lender if you stop making payments on the mortgage loan. PMI is not to be confused with Homeowner’s Insurance, which is required and protects the physical home and property....

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1 July 2022

MarketMinute | Housing and Finance Report

The Fed's preferred inflation gauge rose 4.7% in May from a year ago, slightly less than expected but still stubbornly high. Factory orders for durable goods rose more than expected in May, suggesting business investment remains firm despite economic concerns. Fed Chair Powell insisted this week that the Fed is not deliberately trying to cause a recession and that the economy is on solid footing. Despite gloomy headlines and higher mortgage rates, new home sales unexpectedly rose in May and reversed...

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