Greenway Mortgage Blog

26 July 2022

Adjustable Rate Mortgage

Is the home you want out of reach? In a time of rising rates and prices, the home you really want may be out of reach with the typical fixed-rate loan. But stretching further isn't really much of a stretch at all with an ARM—an adjustable rate mortgage. If you're skeptical, be assured they've changed for the better over the years. Here's How Adjustable Rate Mortgages Work: Most ARMs are hybrid. They are fixed for a period of time, usually 5, 7 or 10 years, before being subject to adjustments. During the initial period, rates (and monthly payments) will typically be lower than those offered by fixed-rate loans....

15 July 2022

MarketMinute | The Fed May Raise Policy Rates By How Much?

Inflation rose 9.1% in June, even more than the expected 8.8%. The increase seems to counter the narrative that inflation is peaking. With inflation still increasing, there is talk that the Fed may raise policy rates a historic 1 percent at their July meeting. The labor market remains strong despite recession concerns. Payrolls increased 372K in June, and wages rose 5.1% from a year ago. Demand for mortgages declined for the 2nd week, led by a dip in purchase apps, which fell 4% from the previous week....

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 long-term...

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, these...

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 thousands to the price of...

GREENWAY BLOG

Adjustable Rate Mortgage

MarketMinute | The Fed May Raise Policy Rates By How Much?

Mid-Year Mortgage Update

Jumbo Mortgage Program

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