Minutes from the last Fed meeting affirm obvious coronavirus concerns and underscore the Fed's recent actions to keep rates low. Stocks have continued to rally after hitting a pandemic low in March, with some indices reaching new highs. However, mortgage rates have not risen, as often happens when stocks rally. Continuing unemployment claims fell last week, though initial jobless claims unexpectedly rose back above 1 million, perhaps signaling a setback for the struggling job market. ...READ MORE
It’s no secret that buying a home can be a complicated and confusing process. In fact, surveys over the years have shown just how stressful Americans say the process is. We’re here to say, you’re not alone! In fact, many Americans, about 40%, say buying a new home is the most stressful event in modern life, according to a survey of 2,000 Americans by Homes.com . Another 44% said they felt nervous throughout the home-buying process. Think of it like this, buying a home isn’t a single action, but rather a series of small steps that eventually lead you the dream to homeownership. Each step in the process has its own challenges....READ MORE
Freddie Mac's weekly average interest rate on 30-yr., fixed-rate mortgages hit its lowest level in the survey's 49-year history. This is the 8th time this year for record lows. The ISM manufacturing index increased to 54.2 in July, indicating manufacturing expansion for the 3rd consecutive month after the spring's steep collapse. Initial jobless claims fell more than expected last week to the lowest since the pandemic started. The broad decline across nearly all states suggests labor market improvement....READ MORE
Download Your Free Home Comparison Chart Here . Purchasing a home is a major milestone that tops many people's lifetime to-do lists—and maybe their list of financial fears too. But it certainly doesn't have to be a scary or stressful experience. With time, care, and research, you can take control of the home-buying process. When looking for a home to buy, it becomes easy to get individual houses confused with one another because there are so many details. That's why Greenway Mortgage has created a Home Comparison Chart to help keep everything in order! Our handy checklist identifies important...READ MORE
At this week's regular meeting, the Fed pledged to keep policy rates near zero until the economy stabilizes. Bond purchases will also continue in support of the markets. Jobless claims rose for a 2nd week in a row to 1.43 million, after several weeks of improvement. The increase was slight, with only 12,000 more claims than the week before. Consumer confidence fell more than expected in July, as some businesses had to close again or halt reopenings amid a flare-up in COVID-19 infections across the country. ...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.