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Blog posted On September 13, 2024
Mortgage rates may have come down slightly, but affordability remains a significant challenge for home buyers, particularly as home prices continue to climb. Typically, rising rates cause home prices to cool, however the current market is anything but typical. The latest U.S. National Home Price Index from S&P CoreLogic and Case-Shiller shows that home prices reached record highs in June, despite rising interest rates.
READ MORECMG Financial Celebrates 7 Years of HomeFundIt™ with Over $700 Million of Real Estate Purchased
News posted On September 13, 2024
San Ramon, CA – CMG Financial, a leading privately-held mortgage banking firm, is commemorating seven years since the launch of HomeFundIt™, the nation’s first and only down payment gifting platform. Since 2017, HomeFundIt has helped over 2,500 families purchase a collective $700 million in real estate.
READ MOREHow Pets Are Shaping Home Buying and Renovation Decisions
Blog posted On September 12, 2024
Pets are becoming a significant factor in home buying and renovation decisions. With over 66% of households including at least one pet, buyers are increasingly prioritizing pet-friendly features when choosing homes and making renovations.
READ MORECMG Home Loans Welcomes Corey McGuire, Area Sales Manager (NMLS ID# 258143)
News posted On September 10, 2024
BOZEMAN, MT – CMG Home Loans, the retail division of well-capitalized privately held mortgage banking firm, CMG Financial, announced today the hire of Area Sales Manager, Corey McGuire. A skilled mortgage professional, McGuire has formidably grown purchase share in the Montana region, leading successful teams for over 25 years.
READ MOREDown Payment Costs Rise by 15% Annually: Here’s How to Keep Yours Low
Blog posted On September 06, 2024
According to Redfin, home buyers are now putting down an average of $67,000, which marks a nearly 15% increase compared to a year ago. This put the typical home buyer’s down payment at a whopping 18.6% of the purchase price, the highest level in over ten years. With this recent surge, prospective homeowners, realtors, and lenders alike are all wondering what this means for the future. And how can we still succeed in the home buying market despite record highs?
READ MORECMG Home Loans Adds Reverse Mortgage Operations Manager, Kari Van Kleef to its Growing Team
News posted On September 03, 2024
Maryville, TN – CMG Home Loans, the retail division of CMG Financial, a leading privately-held mortgage banking firm, announced today the new hire of Kari Van Kleef, a decorated Reverse Mortgage Operations Manager with years of reverse-specific experience. Van Kleef is one of several industry veterans who will be directing the dedicated Reverse Mortgage department at CMG.
READ MOREHow to Spot and Avoid Real Estate Scams as a Home Buyer
Blog posted On August 29, 2024
Buying a home is probably one of the biggest financial investments you’ll make in your life, making you an appealing target for hackers and fraudsters. From wire fraud to email fraud to solicitation calls, there are several ways people might try to get your personal information and/or money. So in this blog, we’ll explore some of the most common real estate scams and how to avoid them.
READ MOREMarket Update: Fed Chair Jerome Powell Says it’s Time to Start Cutting Rates
Blog posted On August 23, 2024
The time has come! Today marks the second-to-last day of the Jackson Hole Symposium, which is a big central banking conference that takes place this time each year. This morning, Federal Reserve Chairman Jerome Powell took the stage for a highly anticipated speech about the current economic state and future Fed outlook. Though Powell is known for his elusive answers during press conferences, he had a straightforward message this morning: “The time has come for policy to adjust.” In other words, it’s time for rates cuts.
READ MOREThe Importance of a Real Estate Agent in Today's Market
Blog posted On August 22, 2024
A staple of the mortgage industry is the need for a REALTOR® during your home buying (or selling!) process. Many potential homeowners are questioning whether utilizing a real estate agent is even needed these days, believing they can just save the money and do the legwork themselves. Fortunately, there are still a multitude of reasons to work with a REALTOR® — why don’t we tackle a few of them?
READ MOREEffective August 17th: Preparing for NAR's Upcoming Industry Changes
Blog posted On August 15, 2024
The National Association of REALTORS® (NAR) are implementing practice changes, effective on Saturday, August 17th. Some of these changes include updates to compensation offers, written agreements, and communications with communities and consumers. These updates will affect anyone involved with real estate, including home buyers and real estate professionals. With this deadline fast approaching, let’s take a look at these practice changes one by one and what to expect going forward.
READ MORECMG Home Loans Announces New Hire of Michael Griffin, Regional Sales Manager
News posted On August 13, 2024
St. Louis, MO – CMG Home Loans, the retail division of well-capitalized privately held mortgage lending firm, CMG Financial, announced today the hire of Regional Sales Manager, Michael Griffin (NMLS #248018). Griffin, a skilled mortgage expert with over 26 years of industry experience, has formidably grown purchase share and admirably developed outstanding teams in all of his prior roles at Guaranteed Rate, Nations Reliable Lending, and Mid America Mortgage. His skillset will prove invaluable in driving the lending market in CMG’s Central Division and all throughout the Midwest.
READ MOREMarket Update: Refinance Applications Surge Following Rate Drop
Blog posted On August 09, 2024
Following last week’s downward trend in mortgage rates, the number of refinance application submissions surged 16% week-over-week. Compared to the same period last year, the Refinance Index was up 59%. Lower rates mean more people could benefit from refinancing their mortgage and saving on their monthly mortgage payment
READ MOREKey Things Buyers Should Consider When Purchasing a Home
Blog posted On August 08, 2024
After years of saving bit by bit, chipping away at debt, and boosting your credit score in preparation for buying a home, you’ve finally gotten to a good place. It’s time to wave goodbye to landlords and purchase your new home! Where do you even begin? It’s such a big life decision, and you want to make sure you find a home that checks your most important boxes while avoiding money-draining surprises. To help you determine your future home with confidence and clarity, let’s look through home buying green and red flags.
READ MORECMG Home Loans Welcomes Laurenn’ Allee, Area Sales Manager
News posted On August 06, 2024
St. Louis, MO – CMG Home Loans, the retail division of well-capitalized privately held mortgage banking firm, CMG Financial, announced today the hire of Area Sales Manager, Laurenn’ Allee (NMLS #260541). Allee, a skilled mortgage expert with over 17 years of industry experience in Missouri, will be driving the CMG market in that area. Her ability to strategically strengthen teams and notably bolster production will prove useful to CMG’s Central Division and clients across the Midwest.
READ MORE5 Strategies for Navigating a Low Affordability Housing Market
Blog posted On August 02, 2024
What are some of the biggest homeownership hurdles holding you back? Well, high interest rates and historically high home prices to start! It’s understandable to ask, “WHY are people buying now, and HOW are people affording homes?” Instead of holding off and continuing to wait for rates to drop, this may be the best time to buy, especially with the help of loan programs like Rate Rebound. According to MarketWatch, buying now is key—once the Fed finally starts cutting interest rates, the lack of home supply will remain, meaning that “high home prices today could soar.” Let’s tackle five strategies that can put you ahead of the game in this low affordability market.
READ MOREMarket Update: Rates Drop to Lowest Levels of the Year After Fed Announcement
Blog posted On August 01, 2024
We rounded out the last few days in July with a nice downward trend mortgage rates. Though we’re still waiting for some key employment reports to come out tomorrow, this week has been full of good news for rates and housing. Let’s dive in!
READ MOREAddressing Affordability Challenges in Today's Housing Market: Effective Financing and Marketing Strategies for New Home Builders
Blog posted On July 31, 2024
By Contributing Author Anthony Grasst, VP National Builder Division
Current Market Issues and Challenges
The housing market is facing significant challenges. According to a recent survey by the Mortgage Bankers Association, many potential home buyers are waiting to purchase in hopes that interest rates will go down. The decision for many to wait is causing an overall drop in mortgage demand. This trend is exacerbated by rising home prices and high mortgage rates, both of which have contributed to a decrease in affordability and buyer hesitation.
READ MORECMG Home Loans Announces New Hire of Dawn Robinson Naya, Area Sales Manager
News posted On July 30, 2024
Honolulu, HI – CMG Home Loans, the retail division of well-capitalized privately held mortgage banking firm, CMG Financial, has welcomed Area Sales Manager Dawn Robinson Naya (NMLS #316268). Dawn, a well-established originator in Hawaii, has dedicated her career working as a trusted resource among clients and associates in her prior roles at loanDepot and HomeStreet Bank. Her ability to develop strong relationships with home buyers and bolster production will prove useful for CMG’s Honolulu-Moana SW, HI branch.
READ MORE80 Years: The History and Impact of the VA Loan
Blog posted On July 25, 2024
The VA home loan was created through the G.I. Bill, also known as the Servicemen’s Readjustment Act of 1944. Signed into law by President Franklin D. Roosevelt on June 22nd, this legislation ensured an enduring legacy that continues to provide Veterans with vital resources, fostering a brighter future for generations to come. The VA Loan played a critical role in that development.
READ MORE7 Popular Home Trends This Summer
Blog posted On July 18, 2024
The summer heatwave is rising, and so are these hot home décor trends! Whether it’s the Scandinavian and Japanese “Japandi-style” minimalist sensibilities, the “dark academia” reading rooms, or the growing popularity of dopamine design, there’s something for everyone in these home trends. Let’s walk through the seven trends taking the home design world by storm.
READ MOREMarket Update: Are Rate Cuts on the Horizon for the Fed?
Blog posted On July 17, 2024
This morning, we got news about the housing starts and building permits from June. Though both numbers were higher than expected, the increases are largely due to multifamily building. The more hopeful news of the week came from this morning’s comments from Fed members and yesterday’s National Association of Home Builders (NAHB) housing market sentiment index.
READ MOREMarket Update: Rates Hit Four-Month Low Following Cool Inflation News
Blog posted On July 11, 2024
Three cheers for the consumer price index (CPI)! This morning, the CPI for June showed that inflation is going down. As a result, MBS prices are significantly stronger, which has resulted in lower mortgage rate movement for the day. In fact, the drop has brought the average 30-year fixed mortgage rate to the lowest level since March.
READ MORECMG Home Loans Announces New Guam Branch, Expanding Homeownership Opportunities Across the Pacific
News posted On July 09, 2024
Guam – CMG Home Loans, the retail lending arm of the well-capitalized and privately held mortgage banking firm, CMG Financial, has announced the addition of a new branch in Guam. The expansion comes as a second wave to CMG’s Norcom retail acquisition earlier in the year.
READ MOREMarket Update: Rates Inch Higher but Could Reverse the Trend with Upcoming Jobs Data
Blog posted On July 03, 2024
Mortgage rates have inched higher in recent weeks after starting June out with a nice winning streak. However, with the upcoming jobs reports, they could trend lower once again. Aside from inflation, jobs reports are the most influential set of economic data when it comes to mortgage rate trends. Weaker job markets tend to correlate to lower rates, and vice versa.
READ MORECMG Financial’s Melissa Harbourne and Candy Nowak Named 2024 HousingWire Women of Influence
News posted On July 02, 2024
San Ramon, CA – CMG Financial’s Chief of Staff, Melissa Harbourne and Chief Credit Officer, Candy Nowak have both been honored by HousingWire as 2024 Women of Influence. This annual award recognizes women in the housing industry who are making notable contributions to their companies and to the industry at large. Melissa and Candy were honored for their inspiring leadership, mentorship of future leaders, and their industry involvement.
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