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Blog posted On October 31, 2024
Is it true that some sellers are throwing in the towel? Due to the rising mortgage rates of last year and this year, the percentage of price cuts for homes have risen. Along with the price-cut increase, listings are also receding, which has led to this surge of sellers calling it quits. Thankfully, there are loan programs out there that can benefit sellers and buyers alike.
READ MOREHomeowners Are Cashing In: Exploring the Recent Home Equity Boom
Blog posted On October 24, 2024
Recently, growing numbers of homeowners have been taking advantage of their home equity. Due to home values soaring, many are starting to understand the importance of dipping into the equity they’ve built up over the years.
READ MOREIs Now the Right Time to Refinance?
Blog posted On October 17, 2024
If you’re a homeowner, you’ve likely been paying attention to the news, waiting for any positive shifts in the housing market. And with the Fed’s recent benchmark rate drop, you’re probably wondering, is now the right time to refinance? Let’s help you figure out when a refi could make the most financial sense for you to pursue and when to hold off and evaluate your other options.
READ MORENavigating the Challenges of Selling in a Shifting Market
Blog posted On October 10, 2024
In today’s real estate market, selling a home can feel like an uphill battle, especially when faced with fluctuating interest rates and a variety of buyer circumstances. Some sellers find themselves waiting months to secure an offer, while others are challenged by unpredictable bids and shifting buyer demand. As the market continues to change throughout the fall, here are some factors that could help sellers and some ways they can improve their listing’s success.
READ MOREA Bountiful Autumn: What to Expect with Seasonal Mortgage Trends
Blog posted On October 04, 2024
The end of summer heralded a shift in the real estate market. The recent Fed rate cut announcement caused ripples throughout the industry, cutting the benchmark interest rate by 0.5%. Home buyers and real estate professionals alike have been celebrating as this announcement marked the first rate reduction in four years. After a languid summer and a dragging housing market, this economic shift has aligned perfectly with the changing season. Autumn has now been injected with buying energy, and potential home buyers may finally feel ready to leap off the sidelines into the golden leaves of homeowning.
READ MORECMG Home Loans Announces the Opening of New Tampa Branch
News posted On October 03, 2024
Tampa, FL – CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, announced today the opening of a new branch in Tampa, FL. Leading the Tampa location is Branch Manager Chris Smith (NMLS ID# 69879).
READ MORECMG Home Loans Welcomes Josh Allyn, Area Sales Manager
News posted On October 01, 2024
The Woodlands, TX – CMG Home Loans, the retail division of well-capitalized privately held mortgage lender, CMG Financial, announced today the hire of Area Sales Manager, Josh Allyn (NMLS# 213245). Allyn, a passionate mortgage expert with nearly 20 years of experience in the industry, will be bringing his commitment to excellence and personalized client solutions to the Houston area.
READ MORECMG Financial Raises Conforming Loan Limits to $802,650 ahead of FHFA’s Increase
Blog posted On September 27, 2024
CMG Financial has increased its agency conforming loan limits to $802,640, a 4.71% increase from this past year’s limits. Though the Federal Housing Finance Agency (FHFA) has not officially announced the new conforming loan limits, CMG wanted to give home buyers early access in an effort to ease some of their affordability challenges.
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Fall Into Comfort: 5 Ways to Cozy Up Your Home
Blog posted On September 26, 2024
As the air turns crisp and leaves begin to fall, it's time to embrace the warmth of autumn at home. This season brings a unique opportunity to refresh your living space, making it a safe space for comfort and relaxation. Here are five easy ways to transition your decor for the cozy months ahead:
READ MOREHow Falling Interest Rates Could Reignite the Housing Market
Blog posted On September 20, 2024
With mortgage rates tumbling to their lowest levels in recent times, priced-out potential home buyers may start to hope again. Due to the recent lower-trending rates, refinance applications jumped starting in August. Now, with the Fed beginning its long-awaited rate cuts, home buyers could be in luck in the coming months.
READ MOREMarket Update: Fed Cuts Benchmark Interest Rate by 0.5%, Marking the First Reduction in Four Years
Blog posted On September 18, 2024
This afternoon, the Federal Open Market Committee (FOMC) voted to cut the benchmark interest rate by 0.5%. The cut comes as welcome relief to consumers after 2.5 years of rate increases.
READ MOREWhy Lower Interest Rates Won’t Solve the Affordability Challenge for Home Buyers
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.
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