GREENWAY BLOG

20 December 2024

MarketMinute | Why are builders optimistic for 2025?

The Fed cut policy interest rates by 0.25%. The Board signaled plans to slow rate cuts in 2025, leading to a significant jump in mortgage rates. Retail sales increased more than expected in November, consistent with strong underlying momentum in the economy as the year winds down. Revised final 3rd-quarter GDP figures show the economy grew 3.1%, more than the 2.8% initial estimate. November existing home sales posted the largest annual gain since 2021, helped by increased inventory. Activity remains...

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10 December 2024

Understanding Why Mortgage Rates Don’t Always Follow the Fed

  When most people start thinking about buying a home or refinancing, one of the first things they do is start checking mortgage rates. And that’s when they might notice something a bit strange: mortgage rates don’t always seem to follow the Federal Reserve’s actions. It’s true, while the Fed’s policies influence many aspects of the economy, they don’t directly set mortgage rates. So why do mortgage rates sometimes seem to go in the “wrong” direction, even after a Fed announcement? Here are the key factors that can cause mortgage rates to move in unexpected ways: 1. The Fed Doesn’t Directly Set...

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6 December 2024

MarketMinute | Where are home prices heading in 2025?

In October, job openings rose to 7.7 million, up 372K from September. However, a slowdown in hiring indicated a mixed labor market. Another reflection of the mixed labor market was an ADP report of lower-than-expected private payrolls growth in November. The Fed's Beige Book showed slight economic growth with subdued employment, modest inflation, and optimism about rising demand. Purchase mortgage applications jumped 6% for the week to the highest level since January, although down 21% from a year...

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4 December 2024

The FHA Raises Loan Limits 2025

  The Federal Housing Administration (FHA) has just increased the amount of money that can be borrowed through its mortgage programs by more than $524,000 in most areas. In high-cost locations, the increase is even greater. New limits will take effect January 1, 2025. This news could make a big difference for homebuyers! The increases will allow more borrowers to take advantage of FHA’s benefits: Low down payment options Lower total cash-to-close requirements with gift or seller contributions More lenient and streamlined refinancing Ability to combine purchase and rehab financing Here are the...

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2 December 2024

We’ve Been Voted One of the Best Mortgage Lenders in Monmouth County, New Jersey

  We’re Honored to be Recognized in the 2024 Asbury Park Press Community’s Choice Awards! We are incredibly excited to share some fantastic news — we’ve been named one of the best mortgage lenders in Monmouth County in the 2024 Asbury Park Press Community’s Choice Awards ! We are proud to have ranked in the top 3, and we couldn’t be more grateful to our community for this recognition. This achievement is not just about our services—it’s a testament to the unwavering support of the wonderful people we have the privilege to serve, work with, and partner with every day. Whether you’re purchasing your first home,...

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