GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

MarketMinute | Inventory and Mortgage Applications Are Up!

MarketMinute | Inventory and Mortgage Applications Are Up!

Retail sales accelerated in July by the most since early 2023, coming in much higher than expected and signaling a resilient economy. Inflation data showed a drop in both consumer and wholesale inflation. The Consumer Price Index fell below 3% for the first time since 2021. Jobless claims fell for a second week to the lowest level since July, signaling the labor market isn't weakening as much as speculated. Builder confidence declined in August despite falling mortgage rates. Housing affordability...

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When Does It Make Sense To Refinance?

When Does It Make Sense To Refinance?

  An old rule of thumb suggested you would need a 1% rate drop to make refinancing worthwhile. This adage was from a time when average loan amounts were far smaller. However, in today's market, even a smaller decrease in your interest rate can lead to significant savings over the life of your loan. To determine if refinancing will save you money, look at the following 3 factors: How much will it cost?  Refinancing isn't free—there are closing costs, fees, and possibly other charges involved. These costs can vary depending on the size of your loan and the terms of the refinance. It’s essential to know exactly how much it will...

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MarketMinute | Good news for buyers! Inventory and price cuts are on the rise

MarketMinute | Good news for buyers! Inventory and price cuts are on the rise

The labor market softened in July. Just 114K new jobs were added, and unemployment rose to 4.3%, the highest level since October 2021. Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession, as freight demand remains robust. Markets now anticipate the Fed will begin slashing policy rates with a half-point cut in September and a full point by year's end.  Realtor.com reports home sellers slashed prices in July at the fastest pace in 2 years, with...

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How to Avoid First-Time Homebuyer Fatigue

How to Avoid First-Time Homebuyer Fatigue

  In today’s competitive real estate market, where demand often surpasses the supply of available homes, buying a house can feel like a marathon rather than a sprint. If you’re not fortunate enough to find a budget-friendly home immediately and have your first offer accepted, you may experience buyer’s fatigue. This can lead to frustration-fueled decisions or even giving up on the process altogether. To help you stay on track, here are some common mistakes fatigued homebuyers make and how to avoid them. Mistake #1: Skipping Pre-Approval One of the best ways to prevent homebuying fatigue is to set yourself up for success from the beginning by...

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MarketMinute | What did rates do after the Fed meeting?

MarketMinute | What did rates do after the Fed meeting?

The Fed kept its policy rate unchanged at this week's meeting but signaled cuts could come as soon as its next meeting in September. Consumer confidence picked up unexpectedly in July but stayed in the tight range of the past 2 years amid lingering inflation worries. Job openings fell slightly in June, and rates of hiring and quits were both the lowest since 2020, all signs of a softening labor market.  Pending home sales rebounded in June. Increased supply and moderating mortgage rates helped...

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