GREENWAY BLOG

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MarketMinute | The Fed boosted policy rates this week

MarketMinute | The Fed boosted policy rates this week

The Fed hiked policy rates 0.25% at this week's meeting. Most Fed officials forecast at least one more rate hike by year's end. August retail sales posted their biggest gain since March. Consumers continued spending despite rising gasoline prices. In another sign of labor market stability, jobless claims fell unexpectedly last week. The drop could be due to the Labor Day holiday.   Builder confidence hit its lowest level in a year, per NAHB. Mortgage rates, labor shortages, and rising construction costs took a toll on optimism. NAR reports pending home sales nudged up unexpectedly in...

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MarketMinute | Housing inventory reaches a recent high

MarketMinute | Housing inventory reaches a recent high

  Core wholesale inflation came in slightly cooler than expected in August. Overall producer prices remain elevated, pressuring mortgage rates higher. The price of Brent crude oil jumped as Middle East tensions flared again, raising fears of higher energy costs and more inflation. The economy added a surprisingly strong 162K jobs in August, the biggest gain since March. Unemployment held at 4.1%. Existing home sales fell 2% in August to their slowest pace in more than a year, per NARNAR also reports housing inventory reached 4.9 months' supply, the most in over a decade. Rates and prices...

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How to Get Your Free Annual Credit Report (Step-by-Step Guide)

How to Get Your Free Annual Credit Report (Step-by-Step Guide)

  Your credit report plays an important role in many financial decisions—from applying for a mortgage or car loan to securing insurance and, in some cases, even employment. That's why it's a smart habit to review your credit report at least once a year. Fortunately, you can access a free copy of your credit report through AnnualCreditReport.com , the only official website authorized under the Fair Credit Reporting Act. While other websites may advertise "free" credit reports, they often require paid subscriptions or additional services.   Before You Get Started To make the process as smooth as possible: Have...

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MarketMinute | Inventory reaches a post-pandemic high

MarketMinute | Inventory reaches a post-pandemic high

  Inflation came in a little hotter than expected in July, with the Fed’s preferred PCE gauge up 3.7% over last year. Durable goods orders beat expectations in July, rising 1.1% and indicating continued strength in business and consumer demand. Initial jobless claims dropped to 203K last week, below forecasts. Continuing claims also moved lower, signaling labor market stability.   New home sales fell in July, and the median price of a new home dropped to $393,800, the lowest level in 5 years, per the U.S. Census Bureau. NAR reports the median price of an existing home was...

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MarketMinute | Jobs are strong, but the market is slow

MarketMinute | Jobs are strong, but the market is slow

Minutes from last month's Fed meeting show deepening concerns about inflation, with several officials ready to raise policy rates as needed. Applications for unemployment benefits moved lower last week, staying near historic lows and signaling a steady labor market. Gross U.S. debt surpassed $40 trillion, a new milestone in the country’s struggle to control its finances. Pending home sales fell to their lowest level of the year in July, per NAR, as mortgage rates and home prices deterred buyers. New home construction also declined in July. NAHB reports housing starts fell 12.4% and...

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