GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
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MarketMinute | Mortgage apps rise despite higher rates

MarketMinute | Mortgage apps rise despite higher rates

Retail sales jumped 0.7% in March, much more than expected. It was the 2nd straight monthly increase and another sign of a resilient economy.  As progress stalled on lowering inflation, Fed officials signaled they are likely to keep rates higher for longer this year. Last week’s jobless claims were flat at 212K, showing no signs of rising layoffs in the strong labor market. Builder sentiment was flat in April as mortgage rates hovered close to 7% and 1st quarter inflation data failed to show...

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The True Value of Homeownership: Understanding Payment vs. Cost

The True Value of Homeownership: Understanding Payment vs. Cost

  A lot of would-be homeowners are waiting to buy due to higher interest rates. That can be wise, if the payments are simply out of reach, yet current rates alone should never keep you from making a move. After all, ownership can still have financial benefits. Homeownership Has Financial Benefits How? The real cost of owning is less than the payment and the long-term benefits typically remain regardless of where rates are when you buy. Just look at where rates have been in the past. Recent rates have simply been close to the long-term average. Housing Market in 1990 To see how ownership at higher rates is still beneficial, let’s go back in...

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Greenway Mortgage Community Lending Program

Greenway Mortgage Community Lending Program

  We are excited to introduce you to Greenway's Community Lending Program, an incentive-based opportunity for eligible properties created to help underserved customers in achieving their dreams of homeownership. Community Lending Program Highlights Primary Residence Purchase, Rate & Term, Cash-Out Refi Fixed Rate (15, 20 & 30 years), Home Possible/HomeReady (30-year fixed rate only) Not Restricted to First-Time Buyers or Specific Income Levels THE FINE PRINT Min Credit Score 620 (Purchase & Refi) Min 640 credit score; LTV 95.01 to 97% / CLTV 95.01-105% (where...

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MarketMinute | The wait for cuts grows longer

MarketMinute | The wait for cuts grows longer

Minutes from last month's Fed meeting showed officials were concerned that inflation was easing but wasn't moving lower in a convincing fashion.  Mortgage rates rose this week as markets reacted to stronger than expected inflation data that makes it less likely the Fed will cut rates. Jobless claims last week also fell more than expected and continued claims also fell, suggesting the labor market remains tight. The number of new listings continues to grow, with 54,769 listings last week....

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New Jersey Homebuyer Programs available at Greenway Mortgage

New Jersey Homebuyer Programs available at Greenway Mortgage

  Navigating the housing market in 2024 has become increasingly complex, marked by soaring rates, dwindling inventory, and skyrocketing home prices. For first-time homebuyers, saving for a hefty down payment in such circumstances can seem impossible. In February alone, the housing market in New Jersey felt the weight of these shifts, with home prices surging by an astonishing 14.3% year-over-year, while homes sold saw a 1.9% decline, and available listings plummeted by 11.5%, according to data from Redfin.com. Amidst these challenging circumstances, finding your footing as a first-time homebuyer can seem difficult at times. However, Greenway Mortgage offers a variety of...

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