Blog


Many would be homebuyers still don't realize that there are lots of low down payment options and think they absolutely need to have 20% down. Greenway offers programs with 10%, 5%, 3% and even 0% down payments. Laura Wicks goes over the details in this week's Mortgage Term Monday video.


For the Week Ending October 26, 2018

 

Please enjoy this quick update on what happened this week in the housing and financial markets.

This week's stock rout drove some traders to seek safety in bonds, causing mortgage bonds to perform well and helping to stabilize rates.
Orders to U.S. factories for big-ticket manufactured goods slowed in September. However, they were still up 0.8% from August, pointing to economic growth.
Although new applications for unemployment aid rose last week, the number of people receiving benefits fell to a 45-year low, signaling labor market tightening.
New home sales dropped 5.5% to a near 2-year low in September. However, numbers were likely affected by Hurricane Florence and could be skewed.
September's pending home sales were slightly lower than a year ago but were up 0.5% over August. Affordability continues to weigh on buyers.
Mortgage applications rose 4.9% from the previous week. Purchase apps rose 2% for the week and were basically flat compared to a year ago.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

 


The process of purchasing a home ends with the closing. Here is Laura to talk about it in the week's #LoanWithLaura video. Learn more about the process and reach out to Laura here.


When closing on a new home there is usually a list a mile long of things that need to get done. While you might be tempted to dive into unpacking, these 5 tasks should be your top priority: 

  1. Change the Locks and Security System – the previous owners could have made copies of keys for family members, dog walkers, etc. so changing the locks will give you peace of mind. In addition, make sure any security systems are updated with your names, contact information and new codes. The code to automatic garage key pads should also be changed.  

  2. Change your address and register to vote – update your address with USPS to start receiving mail at your new home. You can also register to vote with in your new town. If there is an election within the first 60 days of your move, you can vote at your old polling location or mail in an absentee ballot.

  3. Register and License any pets – Some towns have a specific time of year when they push to have all pets licensed. However, if you can remember to take care of this and update the address on any ID tags, it will save you a headache and possibly a licensing fee later. If your pet is microchipped, don’t forget to update the address on file so your furry friend will be returned to you in case of an emergency.

  4. Change your License and Registration – Most states require you to update your license and registration within 30 days of a new move. Some DMV locations offer an online change of address service. If you’ve changed states, your car will need to be registered within 60 days.

  5. Update Insurance Policies and Bank Accounts – Insurance rates can vary depending on location, to make sure to update all insurance policies immediately after your move. Any other important accounts, including your bank account should be updated as well.


 

For the Week Ending October 19, 2018

 

Please enjoy this quick update on what happened this week in the housing and financial markets.

 

 

Minutes from last month's Fed FOMC meeting showed officials broadly agreed on raising interest rates further. The next anticipated rate hike is in December.
Retail sales rose slightly in September. Consumer spending ended the 3rd quarter with strong momentum and should boost further economic growth.
Jobless claims dropped last week, suggesting a further tightening in the labor market. Americans on jobless rolls fell to the lowest levels seen since 1973.
Homebuilder sentiment improved in October as lumber prices fell. Builders still struggle with labor shortages but are generally optimistic.
Housing starts fell slightly more than expected in September. However, most of the drop is in the South and is likely due to Hurricane Florence.
Mortgage applications continued to drop from the previous week, though purchase applications were still 2.5% higher year-over-year.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

 


Showing results 36 - 40 of 315