Are you planning to buy a house in the near future? Understanding what your credit score is and what factors influence it can give you a confidence boost when buying a home, plus arm you with knowledge if you need to dispute something. Credit scores are a big factor when buying a home. They are used by mortgage lenders to determine if you’re at risk of defaulting on your loan and even how much they should charge you for the loan. Most consumers don’t really understand what influences their credit score, and even fewer know how lenders calculate the loan pricing. In this blog, we’re going to look at your credit score and the factors that influence it. The...READ MORE
In last month's meeting minutes, the Fed said a strengthening economy and higher inflation could lead to earlier and faster policy rate increases. A record 4.5 million workers quit their jobs in November as workers looked for better jobs and wages. Job openings declined to 10.6 million. Private job growth totaled 807K in December according to ADP, surpassing the Dow Jones estimate of 375K and November’s 505K gain. Mortgage rates crept up this week, hitting a 9-month high. However, rates are still very low when compared historically....READ MORE
Initial jobless claims totaled 198K for the week ending December 25. That was below the 205K forecast and near the lowest level since 1969. A recent analysis shows low- and middle-income households spent an average of $3,500 more in 2021 for the same products bought in 2020 or 2019. U.S. manufacturing, which accounts for 12% of the national economy, grew to a 3-year high in November. Sales of previously owned homes rose 1.9% in November. The increase was likely due to a strengthening job market and concerns over rising rates....READ MORE
Greenway Mortgage has done it again, but better! We’re ending 2021 on a high note as we have raised over $30K in donations for the Halfway Home Animal Rescue Team. With the help from all of you and Greenway's generous match, we raised over $30K for the Halfway Home Animal Rescue Team in just three days. A BIG Thank You to All from Greenway Mortgage Greenway Mortgage wants to thank everyone who donated and those that shared our fundraiser with friends and family! A huge shout out and thank you to Caroline Manzo from the Real Housewives of New Jersey for supporting this cause and for helping us spread the word about our Giving Back Fundraiser...READ MORE
Since the pandemic, the meaning of home has certainly changed for many Americans. For renters, the feelings of security and stability have become more important. The financial benefits that come with rising home equity when owning your own home have become clearer. Many homeowners have decided that their home no longer meets some of their needs as finding spaces for a home office or a home gym has become an obstacle. The need for a home with more space inside and out is now significant as our homes have been operating 24/7. There are still two main obstacles some homebuyers face when it comes to buying a new home and which include: the ability to save for a...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.