In many areas, prospective homebuyers understand how difficult the housing market has been. Inventory is tight, prices are up, and competition is intense. In fact, the nation is experiencing one of the most competitive housing markets in history. If you’ve been searching for a home, you can agree. What’s Happening with The Real Estate Market? Homebuyers are finding it hard to compete with other buyers who are making offers well above the asking price. That’s when a good strategy comes into play to ensure your offer gets accepted. One way is to make a cash offer. Making an all-cash offer is a competitive step to secure the home of their dreams, but...READ MORE
Fed Chair Jerome Powell commented this week that "inflation is much too high" and the Fed would raise policy rates until it is under control. Supply chain issues caused factory durable goods orders to fall more than expected in February, snapping a 5-month streak of increases. Last week's jobless numbers hit the lowest level since 1969. Fed Chairman Powell described the labor market as "tight to an unhealthy level." February’s existing home sales fell more than expected, down 7.2% from...READ MORE
Bidding wars seemed to be the norm in 2021. And if you were searching for a home, you know this to be true. Will bidding wars still be a thing in 2022? According to a Redfin report, 72% (nearly 2 in 3) of homebuyers faced a bidding war last year. Bidding wars made an already challenging, pricy real estate market even more so. Some buyers were forced to waive contingencies, skip inspections, and make offers well above the asking price just to get ahead of the competition! In addition, there were even some homebuyers who made all-cash offers which made the competition even steeper. Surely, this can make anyone feel rushed when trying to make one of the biggest decisions of...READ MORE
Wholesale inflation climbed 0.8% in February, lower than estimates but still up 10% from last year, tying January for the biggest gain ever. February’s retail sales were lower than expected. The 0.3% gain shows consumers continued to spend but were impacted by rising prices. As anticipated, the Fed raised policy rates 0.25% this week to help fight inflation, which has driven up mortgage rates recently. Homebuilder sentiment is still very bullish, though it is down slightly from its recent peak due to higher mortgage...READ MORE
Are you a U.S. Veteran or an active-duty service member looking to build your own home? If so, your journey to building your dream home starts here with Greenway’s VA One-Time Close Construction Loan. This one-time close construction loan provides Veterans with a simple and affordable way to finance the perfect home all with just one application and one closing. The Lowdown on the VA One-Time Close Construction Loan… The U.S. Department of Veterans Affairs (VA) has loan options designed to help veterans make their dream home a reality. VA loans are issued by private lenders, like Greenway Mortgage, but backed by the VA. VA...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.