GREENWAY BLOG

25 August 2023

MarketMinute | Home prices move up despite higher rates

Unemployment claims fell to the lowest level in 3 weeks, showing renewed labor force momentum and a healthy demand for workers. Even with a resilient economy, small business confidence is back at an all-time low, according to a CNBC|SurveyMonkey Small Business Survey. Credit card spending has propped up the economy but is showing signs of slowing, as consumers feel the pinch of higher rates. July home sales fell again as supply dropped to a 25-year low. The number of homes for sale at month’s end...

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18 August 2023

MarketMinute | New home sales take the lead

Retail sales came in stronger than expected in July for the biggest gain in 6 months. Consumers continued to spend despite higher rates. Wholesale prices rose more than expected in July. The increase countered recent signs of easing inflation pressures. Minutes from last month's Fed meeting hinted at more rate hikes to come, as officials remained concerned about the pace of inflation. Housing starts for single-family homes surged in July. Permits for future construction also rose, despite climbing...

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11 August 2023

MarketMinute | Why Will It Be Harder To Get Homeowners Insurance?

June's Consumer Price Index shows inflation rose only 3.2% from a year ago, possibly deterring the Fed from raising policy rates in September. Jobless claims rose last week to the highest levels in a month, coming in higher than expected and signaling some softening to the labor market. Many experts are backing off their predictions of a looming recession, with the latest economic data pointing to a possible soft landing. Available home insurance policies have dropped 53% this year. Companies are...

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8 August 2023

What is an Asset Depletion Mortgage?

  Not all borrowers have traditional means of employment or income. There are many people who may fit into non-traditional income categories such as: Borrowers that have accumulated assets over the years and plan on using those funds to cover all or part of their housing payment each month  A borrower with little to no income but significant assets  A borrower who is retired or soon to be retired  If any of these apply to you and you have significant assets such as savings, investments, or retirement accounts you may qualify for our Asset Depletion Loan Program. What is an Asset Depletion Loan? Asset depletion loans are a...

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4 August 2023

MarketMinute | How much is a starter home these days?

ADP reports the private sector added 324K jobs in July, landing well above expectations and signaling labor market strength. Manufacturing stabilized in July with a gradual improvement in new orders, though factory employment dropped to a 3-year low. Job openings hit their lowest level since April 2021 in June, while layoffs nudged downward, suggesting a softening but resilient labor market. Construction spending increased solidly in June, boosted by outlays in both single- and multi-family housing...

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