For the Week Ending July 19, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Retail sales increased in June, pointing to strong consumer spending. This could offset the slowdown from the business sector. Lower import prices in June are evidence of declining inflation. Low inflation helps prevent rising rates. Jobless claims last week were up slightly. However, the overall labor market remains strong....READ MORE
The Monmouth County, NJ First Time Homebuyer Assistance Program is designed to provide financial assistance to low income families to purchase an affordable home in the form of a deferred payment second mortgage loan in an amount not to exceed $10,000 for down payment and closing costs (only). PROGRAM DETAILS & ELIGIBILITY MUST BE a resident of Monmouth County for 1 YEAR before applying for a grant. ALL applicants must complete a pre-purchase housing counseling course and provide a certificate of completion with the First-Time Homebuyer application. MUST BE an individual(s) that never owned a home (except if an applicant...READ MORE
For the Week Ending July 12, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Recent comments by Fed Chair Jerome Powell have markets speculating a 0.25% policy rate cut at this month's FOMC meeting. Some traders think it may even be 0.50%. Although the Fed doesn't set mortgage rates, expectations of a Fed rate cut help keep rates low. Weak inflation data this week also could help keep rates low....READ MORE
#1 What is Refinancing? Refinancing is the process of replacing an existing mortgage with a new loan. Typically, people refinance their mortgage in order to reduce their monthly payments, lower their interest rate, or change their loan program from an adjustable rate mortgage to a fixed-rate mortgage. In addition, some people may need access to cash in order to fund home renovation projects or pay off debts, and will leverage the equity in their house to obtain a cash-out refinance. The process of refinancing works in the same way as when you applied for your first mortgage. Take a look at some of our loan options here. #2 What are some benefits to refinancing?...READ MORE
For the Week Ending July 5, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. A gauge of U.S. service industries dropped to its weakest level in almost 2 years, led by a cooling in employment that may temper labor market optimism. ADP reported private payrolls rose only 102,000 in June, missing expectations. Weakness in the labor market could support a Fed rate cut later this month. The 4th of July...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.