GREENWAY BLOG

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

MarketMinute | What group is exiting the housing market?

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

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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MarketMinute | House prices are still on the rise

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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Rate Watch: Will the Fed Cut Rates in 2024?

Rate Watch: Will the Fed Cut Rates in 2024?

  The Federal Reserve Board's recent decision to keep policy rates unchanged at their latest meeting has stirred speculation about the possibility of future rate cuts in 2024. Investors are closely monitoring the situation, particularly as board members projected up to three rate cuts this year. Looking for Future Rate Cuts Before the January meeting, the consensus among investors was divided on whether the first cut would occur at the March meeting. The December projections suggested potential adjustments to the rates, keeping the financial market on edge. The Federal Reserve's guidance, as always, hinges on incoming economic data. However,...

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The Housing Market: A Year-End Recap and Insights into 2024 Trends

The Housing Market: A Year-End Recap and Insights into 2024 Trends

  Is the tide turning for the housing market?  If 2023 saw homebuyers and sellers mostly treading water against waves of rising interest rates, 2024 has them preparing to swim into calmer waters. What happened? Inventory rose but was still low. After stalling in the first quarter of 2023, the inventory of homes for sale continued an upward trajectory. November's inventory was about two-thirds of November 2019's level. Rates climbed to multi-decade highs. Pressured by Fed policy rate hikes and high inflation, mortgage rates continued their ascent. They reached their highest point in October. Price...

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