GREENWAY BLOG

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

MarketMinute | What's Almost Returned To Pre-Pandemic Levels?

MarketMinute | What's Almost Returned To Pre-Pandemic Levels?

Inflation is expected to peak close to 9% in the coming months, as the Russian/Ukraine war drives up the cost of raw materials and energy. President Joe Biden signed an executive order on Wednesday, calling on government to examine the risks and benefits of cryptocurrencies. Jobs data last week showed a surprisingly strong 678K new jobs were created in February, as unemployment fell to 3.8%. The mortgage industry originated a record $4.4 trillion last year, led by record purchase lending volume and surging cash-out...

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Understanding Mortgage Rate Locks

Understanding Mortgage Rate Locks

  You may have heard the term rate lock before. Rate locks can save you thousands of dollars over the time you hold the mortgage loan, but what exactly are they and how do they work? Mortgage interest rates are constantly moving up and down throughout the day and daily. During the underwriting and process stages of a mortgage, rates can fluctuate. Getting a mortgage rate lock is a way to keep your interest rate from moving higher before closing day. What is a mortgage rate lock? A rate lock, also known as rate protection, keeps your interest rate from rising between the time you apply for a mortgage and the time you close on your new loan. A mortgage lender...

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MarketMinute | How Long Have Homeowners Lived In Their Homes?

MarketMinute | How Long Have Homeowners Lived In Their Homes?

According to payroll processor ADP, private companies added 475k new jobs in February. ADP also revised January's report upward by 801K. In his testimony before Congress, Fed Chair Jerome Powell said he still expects a quarter point Fed policy rate hike at this month's meeting. New jobless claims came in at 215k, the lowest this year. Continuing claims' 4-week average fell to 1.48 million, the lowest since 1970.   Pending home sales were down 5.7% in January, continuing what is now a 3-month drop in...

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MarketMinute | How long have typical owners lived in their homes?

MarketMinute | How long have typical owners lived in their homes?

  According to payroll processor ADP, private companies added 475k new jobs in February. ADP also revised January's report upward by 801K. In his testimony before Congress, Fed Chair Jerome Powell said he still expects a quarter point Fed policy rate hike at this month's meeting. New jobless claims came in at 215k, the lowest this year. Continuing claims' 4-week average fell to 1.48 million, the lowest since 1970.     Pending home sales were down 5.7% in January, continuing what is now a 3-month drop in transactions as...

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FHFA Releases Home Price Index and Values are up 17.5% YOY

FHFA Releases Home Price Index and Values are up 17.5% YOY

  The Federal Housing Finance Agency released its House Price Index for Q4 of 2021 and home prices were up 17.5% year over year. Your area's details can be found in my Real Estate Appreciation Data Report. What could this mean for you as a homeowner? You may be able to drop private mortgage insurance  and lower your monthly payment Take cash out  for home improvements, debt consolidation, tuition payments, or any other purpose When values are high, a refinance  could be worth exploring. Are you thinking of buying? High home prices can impact affordability, as can rising interest rates....

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