For the Week Ending August 25, 2017 Please enjoy this quick update on what happened this week in the housing and financial markets. Central bankers from around the world are meeting this week for the Jackson Hole Symposium. Markets will be looking for signs of imminent policy changes. Very little economic news this week along with low trading volume has left markets quiet. This environment has helped to keep mortgage rates stable. Despite labor market strength, low inflation remains a...READ MORE
There’s a lot of conflicting advice about whether it’s smarter to rent or buy. Some say renting is like throwing money down the drain when you could be building equity in your own home. Others argue there are better ways to invest your cash, and you’re giving up valuable flexibility. “We typically make big decisions like whether to rent or buy with emotion and defend them with logic, which is why it’s so easy to make a case for either,” explains Dana Bull, a Realtor at Sotheby’s Harborside in Boston. But there are actually several considerations that can make the decision to rent or buy much easier. Here are five signs you’re...READ MORE
On April 25th, Fannie Mae (FNMA), the US's largest entity that provides funding for the mortgage market, released updated guidelines for mortgages they provide financing for. The full text of which can be found here, https://www.fanniemae.com/content/announcement/sel1704.pdf . A lot of industry lingo there so below we've boiled it down to what matters to borrowers and real estate professionals. Many of the changes favor the first-time buyers and Millennials. Factors that may have prevented or deferred a prospective homebuyer from obtaining a home loan now make mortgage qualification a reality. DEBTS PAID BY OTHERS WHAT IT...READ MORE
As expected, the Federal Reserve announced today that it would raise interest rates by a quarter of a percent. “In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 3/4 to 1 percent,” the Federal Open Market Committee said in a statement. “The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2 percent inflation. ” The hike marks only the third time in a decade the Fed has raised its benchmark interest rate. The last hike came in December. This article...READ MORE
For the Week Ending February 3, 2017 Please enjoy this quick update on what happened this week in the housing and financial markets. The Fed concluded the most recent FOMC meeting and announced there would be no policy rate increases. The next FOMC meeting is scheduled for March 14/15. Economic activity in manufacturing expanded in January, surpassing economists' expectations. Manufacturers grew at the fastest pace in more than 2 years. The Consumer Confidence Index dropped in January...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.