GREENWAY BLOG

2 February 2024

MarketMinute | House prices are still on the rise

Consumer confidence reached its highest level since December 2021 and was up more than 30% since its April 2020 low.  Job openings rose to a 3-month high in December. The continuing demand for workers demonstrates labor market strength. The Fed left policy rates unchanged at this week's FOMC meeting but signaled a willingness to cut rates as data confirms inflation is cooling. A Harvard study showed rent costs have fallen from prior record highs and are now rising at a significantly slower pace...

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1 February 2024

Rate Watch: Will the Fed Cut Rates in 2024?

  The Federal Reserve Board's recent decision to keep policy rates unchanged at their latest meeting has stirred speculation about the possibility of future rate cuts in 2024. Investors are closely monitoring the situation, particularly as board members projected up to three rate cuts this year. Looking for Future Rate Cuts Before the January meeting, the consensus among investors was divided on whether the first cut would occur at the March meeting. The December projections suggested potential adjustments to the rates, keeping the financial market on edge. The Federal Reserve's guidance, as always, hinges on incoming economic data. However,...

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30 January 2024

The Housing Market: A Year-End Recap and Insights into 2024 Trends

  Is the tide turning for the housing market?  If 2023 saw homebuyers and sellers mostly treading water against waves of rising interest rates, 2024 has them preparing to swim into calmer waters. What happened? Inventory rose but was still low. After stalling in the first quarter of 2023, the inventory of homes for sale continued an upward trajectory. November's inventory was about two-thirds of November 2019's level. Rates climbed to multi-decade highs. Pressured by Fed policy rate hikes and high inflation, mortgage rates continued their ascent. They reached their highest point in October. Price...

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26 January 2024

MarketMinute | New home sales are up and new mortgage payments are down

The economy grew faster than expected in the 4th quarter, fueled by strong consumer spending and defying predictions of a recession in 2023.  Initial jobless claims rose 25K last week to 214K. Although that is the highest level in a month, it still signals a strong labor market. Orders for durable goods, or products made to last at least 3 years, were unchanged in December. Economists had expected a slight increase. New home sales surged 8% in December and were up 4% in 2023, even as higher...

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23 January 2024

Your Step-By-Step Roadmap To Mortgage Pre-Approval

  Getting Started On Your Home Buying Journey Getting a home loan may feel like an epic journey at times, but with the right guidance it can be easily conquered. Before you begin, reach out to a Greenway Loan Officer to discuss your financial situation so we can work on a plan to get you into the home of your dreams. Feel free to click below and receive your complimentary Mortgage Pre-Approval Roadmap Brochure . It includes tools to help you monitor your monthly budget as well! Succeed with a Mortgage Pre-Approval After speaking with a Greenway Loan Officer, we’ll be able to assess your financials and determine the size of the...

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