GREENWAY BLOG

16 February 2024

Monmouth County, NJ’s First-Time Homebuyers Assistance Program

  Are you dreaming of owning your first home but struggling to navigate the complex world of down payments and closing costs? Look no further! The Monmouth County, NJ First-Time Homebuyers Assistance Program is here to turn your homeownership aspirations into reality. In this blog, we'll explore the ins and outs of this program, including eligibility criteria, program details, and the participating municipalities that could become your new home. Understanding the Program The Monmouth County, NJ First-Time Homebuyers Assistance Program is tailored to provide financial support to low-income families aiming to purchase an affordable home. The program offers a...

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12 February 2024

4 Things To Love About the Housing Market

  As we find ourselves in the heart of February 2024, the housing market presents a landscape filled with promising developments. Here are four compelling reasons to feel optimistic about the current state of affairs: #1 Favorable Mortgage Rates The trajectory of mortgage rates has taken a promising turn since last fall. After hitting highs, rates have descended, making homeownership more accessible for many. The Federal Reserve Board's projection of potential rate cuts further underscores this positive trend, provided inflationary risks remain manageable. Lower rates not only translate to reduced monthly payments but also signify improved affordability,...

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9 February 2024

MarketMinute | What group is exiting the housing market?

Job growth posted a surprisingly strong increase in January, showing the labor market is solid and poised to support broader economic growth.  Fed officials continue to state that policymakers have time to be patient about the timing of Fed policy rate cuts, pressuring mortgage rates. Jobless claims dropped for the 1st time in 3 weeks, suggesting employers are still largely holding onto workers. REALTOR® (NAR) membership fell in January for the 3rd consecutive month, though there are still over...

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5 February 2024

Old Home vs New Home- How Much Will You Really Pay for Your Home?

  When choosing your home, it’s helpful to consider the monthly cost of ownership rather than the price on the sales contract. Newly constructed homes often carry a higher purchase price than similar older homes. But the lower energy, maintenance and repair costs compared to an older home may make living there less expensive. Here’s some information on the benefits of new construction and some handy comparison tools, too. When choosing between an existing home and a newly constructed home, it’s important to look past the sales price to the actual monthly cost of owning your home. Newly constructed homes are likely to bring lower energy bills and...

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2 February 2024

MarketMinute | House prices are still on the rise

Consumer confidence reached its highest level since December 2021 and was up more than 30% since its April 2020 low.  Job openings rose to a 3-month high in December. The continuing demand for workers demonstrates labor market strength. The Fed left policy rates unchanged at this week's FOMC meeting but signaled a willingness to cut rates as data confirms inflation is cooling. A Harvard study showed rent costs have fallen from prior record highs and are now rising at a significantly slower pace...

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