GREENWAY BLOG

28 July 2023

MarketMinute | Discover Signs Of Housing Market Recovery

Consumer confidence hit a 2-year high in July, as inflationary pressures eased and the economy continued to show resilience. The Fed raised its policy rate this week to a 22-year high, as expected. Fed actions do not directly impact mortgage rates. The economy picked up unexpectedly in the 2nd quarter, steering clear of a recession despite Fed rate hikes.   The FHFA reported a 2.8% year-over-year home price increase in May. This was the 4th straight month of gains despite a jump in mortgage...

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26 July 2023

Rate Watch | The Fed Hikes Rates At July 2023 Meeting

The Fed hikes rates again! After pausing its cycle of policy rate hikes in June, the Fed implemented another increase at its July meeting. Many rate watchers hope the 0.25% hike will be the final increase of the year.   Future Fed action depends on the economy. In a statement issued after their meeting, the Fed reiterated their goal of keeping inflation at 2%. The Board maintained its commitment to monitoring economic data to make decisions on future adjustments. It's simply too soon to know what will come next. Please Note: Mortgage rates are impacted by market forces beyond Fed actions and will not...

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21 July 2023

2023 Mid-Year Housing Update

  Things are still happening in the housing market. If there’s one thing I want you to learn from this mid-year update on the home financing market, it’s that we’re still here. Even when the media talks about high interest rates and low housing inventory, we’re still helping homeowners and homebuyers every single day. And we’re here to help you too. Here is our take on where things stand today. Homeowners Many of our clients took our advice over the last few years to finance or refinance at historically low rates, and now they are enjoying the ride. Though national home prices fell at the end of last year, the most up-to-date...

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7 July 2023

MarketMinute | What's the deal with homeowners insurance these days?

Manufacturing contracted for an 8th month in June, slipping to the weakest level in 3 years. Payroll company ADP reports businesses added the most jobs in a year in June, underscoring the ongoing strength of the labor market. The service sector expanded in June at its fastest pace in 4 months, pointing to a resilient economy. Mortgage applications dropped to the lowest level in a month. Purchase apps fell 5% for the week and 22% year over year. Homeowners...

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5 July 2023

What I Wish I Knew When I Bought My First Home

  Buying your first home is an exhilarating milestone, signaling a significant investment and the fulfillment of a lifelong dream. It's a place to call your own, a sanctuary where memories are made. However, amidst the excitement, the homebuying process can become overwhelming, leaving you juggling multiple tasks and making crucial financial decisions. Even with the support of experienced friends and family, there are often hidden aspects that catch you off guard. Have no fear. We’re here to shed light on those untold secrets and provide you with invaluable insights. Armed with this knowledge, you'll be better equipped to navigate the journey of purchasing...

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