For the Week Ending November 1, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. The Fed cut policy rates by 0.250% this week, the 3rd cut in as many meetings. A Fed rate cut doesn't directly impact mortgage rates, other than HELOCs. Weekly jobless claims rose more than expected last week. The numbers still support a solid labor market. Consumer spending increased marginally in September, while wages were...READ MORE
Are you feeling overwhelmed by debt? You’re not alone. In fact, many American households are dealing with credit card debt on top of their mortgages, student loans, car loans, medical bills, and the list goes on. THE GOOD NEWS For homeowners, the good news is that you may be able to make the debt you have more manageable by refinancing your mortgage. Why? A refinance can help you consolidate your debt by capitalizing on low mortgage interest rates while tapping into your home’s equity . HOW CAN A REFINANCE HELP PAY OFF DEBT? Are you familiar with cash-out refinances? We’ve talked about cash-out refinances in the past,...READ MORE
For the Week Ending October 25, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. September's factory orders for big-ticket manufactured goods tumbled by the largest amount in 4 months, indicating continuing struggles in the industry. Stocks improved this week as corporate earnings results helped investors shrug off signs that global growth is losing momentum. Despite an overall slowing economy, jobless claims fell last week....READ MORE
What is a USDA Loan? A USDA loan is a mortgage loan backed by the U.S. Department of Agriculture (USDA). In fact, they are available to millions of primary home buyers in eligible areas. So, if you’re looking to buy a home, this might be the right mortgage choice for you. Don’t let the term “rural” fool you. This type of loan is available in many suburban areas as well. Most of the country is in what the USDA considers a qualified rural area. But, it’s still important for prospective buyers to check a home’s eligibility status before going too far! To see if a property is eligible check out the USDA Property...READ MORE
For the Week Ending October 18, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Retail sales declined unexpectedly in September, the first time in 7 months. The report could signal the economy is softening, possibly helping keep rates low. A Phase I trade deal with China was agreed upon, though not yet signed. A finalized deal would eliminate some of the economic uncertainty that has contributed to lower rates. Jobless claims...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.