Avoiding Debt this Holiday Season

  • December 11, 2019

The season of giving can quickly become the season of debt if you do not spend carefully and stick to a budget.  You want to shower your loved ones, and sometimes yourself, with gifts but you don’t want to be paying off that holiday debt until the next year.  A new study from NerdWallet found consumers plan to spend an average of $825 on gifts this year, up from an average of $776 last year. 

 

Read Avoiding Debt this Holiday Season


Rental Rates Rise, Especially for Single-Family Homes

  • December 10, 2019

Renters are about to start paying more every month, according to data from CoreLogic, due to a shrinking supply of single-family rental homes.  After the high number of foreclosures following the Financial Crisis, a surplus of low-priced single-family homes were purchased by property investors and converted into rental homes.  From 2010 to 2016, the number of single-family rental homes jumped 38%, while multifamily or apartment rentals increased just 3%.  Since that surge, supply has flattened while demand has remained strong. 

Read Rental Rates Rise, Especially for Single-Family Homes


Market Forecast: Federal Open Market Committee Meeting, Mortgage Apps, and Consumer Price Index

  • December 09, 2019

This week, the Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday for its last semiannual monetary policy meeting of the year.  The Fed is not expected to move interest rates during this meeting.  In housing news, the Mortgage Bankers Association (MBA) will release its weekly mortgage application survey on Wednesday.  Another market-moving report scheduled is the consumer price index. 

Read Market Forecast: Federal Open Market Committee Meeting, Mortgage Apps, and Consumer Price Index


Market Recap: Construction Spending Slows, Mortgage Apps Mixed, and the ADP Employment Report

  • December 06, 2019

Mortgage rates trended lower this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting.  This week, the US construction spending report showed overall construction investment slowed in October.  New purchase mortgage application submissions increased but refinance application submissions declined.  The ADP employment report was lower than expected.

Read Market Recap: Construction Spending Slows, Mortgage Apps Mixed, and the ADP Employment Report


Buying a Home for the Holidays

  • December 05, 2019

During the holiday season, most home buying and selling activity tends to slow down.  People are traveling, the weather is colder, and home buyers and sellers have other things on their mind.  However, if you’re on a timeline to start a new job or move for a family obligation, you may still need to buy or sell a home during the holiday season, even if it’s not the ideal time.  After October’s rate cut, the third one of 2019, home buying and selling may pick up into the end of the year.

Read Buying a Home for the Holidays


Christopher M. George Recognized as 2019 HousingWire Vanguard

  • December 05, 2019

San Ramon, CA – Christopher M. George, founder, president, and CEO of CMG Financial, was honored as a 2019 HousingWire Vanguard.  For its 5th annual list, HousingWire recognized select housing finance executives who have demonstrated outstanding leadership and service to the industry.  The Vanguards were chosen by HousingWire’s editorial board based on their accomplishments in the last 12 months both within their respective companies and the housing sector they represent.

Read Christopher M. George Recognized as 2019 HousingWire Vanguard


Commonly Overlooked Home Hazards

  • December 04, 2019

You don’t have to save your cleaning for the spring!  With a new year approaching it’s the perfect opportunity to start fresh.  Is there a musty smell in your basement?  When was the last time you changed your smoke detector batteries?  Do you even have a carbon monoxide detector?  Zillow researchers narrowed down the top five household hazards and how you can avoid them.

Read Commonly Overlooked Home Hazards


Federal Housing Finance Agency Increases Conforming Loan Limits

  • December 03, 2019

Last Tuesday, the Federal Housing Finance Agency (FHFA) announced it is raising the conforming loan limits for Fannie Mae and Freddie Mac again in 2020.  This historic move marks the fourth straight year of loan limit increases. 

Read Federal Housing Finance Agency Increases Conforming Loan Limits


Market Forecast: Construction Spending, Mortgage Applications, and the ADP Employment Report

  • December 02, 2019

There was not much mortgage rate movement during last week’s shortened holiday week.  This week in housing news, US construction spending and the Mortgage Bankers Association (MBA) weekly mortgage application survey are both scheduled for release.  In employment news, the ADP employment report comes out on Wednesday. 

Read Market Forecast: Construction Spending, Mortgage Applications, and the ADP Employment Report


Market Recap: Home Values Up, New Home Sales Down, Pending Home Sales Fall

  • November 29, 2019

It was a short week this week, with markets closed on Thursday in observance of the Thanksgiving holiday.  Home price appreciation has started to pick up.  New home sales and pending home sales both declined month-over-month, but climbed year-over-year. 

Read Market Recap: Home Values Up, New Home Sales Down, Pending Home Sales Fall


4 Reasons to Consider Buying a Multi-Family Home

  • November 28, 2019

Your investment in real estate starts with the purchase of your first home.  The major advantage of buying over renting, is that when you own your home, every mortgage payment goes toward building home equity.  You can take your real estate investment a step further by buying a multi-family home like a duplex or triplex instead of just a single-family home. 

 

Read 4 Reasons to Consider Buying a Multi-Family Home


How Personal Loans Help Some Consumers Pay Off Debt Faster

  • November 27, 2019

When you’re getting ready to apply for a mortgage, you’re going to want to improve your credit score and lower your debt-to-income ratio if needed.  Lenders use financial data like your credit score and your debt-to-income ratio to evaluate how you manage your other debt and determine your interest rate. 

Read How Personal Loans Help Some Consumers Pay Off Debt Faster


More Young Home Buyers are Choosing VA Loans

  • November 26, 2019

The VA Loan is one of the most affordable ways for qualifying Veterans and Active-Duty Military to purchase a home.  The VA Loan does not require a down payment, doesn’t have mortgage insurance, and typically will have a below-average interest rate.  The VA Loan was created in 1944 to help soldiers returning from World War II put down roots and buy homes.  However, it tends to be underutilized as a mortgage option.  Recent data shows, both Millennial and Generation Z home buyers have led to a resurgence in VA Loan usage. 

Read More Young Home Buyers are Choosing VA Loans


Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales Index

  • November 25, 2019

It will be a short week for economic news, with markets closed on Thursday in observance of the Thanksgiving holiday and none scheduled on Friday.  In housing news, the S&P CoreLogic Case-Shiller home price index and the new home sales report are both scheduled for Tuesday.  The pending home sales index comes out on Wednesday.

Read Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales Index


Market Recap: Housing Market Index Pulls Back, Housing Starts and Building Permits Jump, Existing Home Sales Increase

  • November 22, 2019

Mortgage rates are historically low, and likely to remain low into the end of the year.  The National Association of Home Builders’ (NAHB) housing market index dropped one point in November, but the reading is still positive.  Both housing starts and building permits increased.  Existing home sales turned around. 

Read Market Recap: Housing Market Index Pulls Back, Housing Starts and Building Permits Jump, Existing Home Sales Increase


Tips for a Stress-Free Home Renovation

  • November 21, 2019

Recently, many homeowners are using cash-out refinances to reinvest in their homes.  Through a cash-out refinance, you can withdraw a portion of your home’s equity to finance other expenses.  Home repair or renovation projects are commonly financed through a cash-out refinance because they are a way for you to reinvest in your home.  You should not withdraw equity from your home unless you’ve built up a cushion of at least 20%.  When used responsibly, a cash-out refinance can be a way for you to increase the resale value of your home. 

Read Tips for a Stress-Free Home Renovation


Do you have a high enough credit score to get a mortgage?

  • November 20, 2019

One of the things every lender looks at when you apply for a loan is your credit score.  Your credit score reflects how well you manage your debt based on your repayment history, outstanding balance, and other factors.  Recent data from the Federal Reserve showed 90% of US mortgages were issued to borrowers with a score of 650 or higher.  Further, 75% of US mortgages were issued to borrowers with a score of 700 or higher. 

Read Do you have a high enough credit score to get a mortgage?


Homeowners: What to Know Before End-of-Year Tax Time

  • November 19, 2019

With today’s low mortgage rates, many homeowners are refinancing their mortgages to get a lower interest rate or get cash out.  A cash-out refinance is an opportunity to withdraw your home’s equity to improve your home, pay down other debt, or finance another need.  Home repair and renovation projects are a good way to reinvest in your property and potentially increase its resale value.  This year, Americans are on track to spend $425 billion on home improvement projects.  You may even be able to claim tax benefits on some home upgrades. 

Read Homeowners: What to Know Before End-of-Year Tax Time


Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales

  • November 18, 2019

Mortgage rates did not move significantly last week, trending slightly downward according to some sources.  There are several important housing reports scheduled for this week ahead of next week’s Thanksgiving holiday.  The National Association of Home Builders’ (NAHB) housing market index is scheduled for release on Monday, followed by housing starts and building permits on Tuesday, and existing home sales on Thursday. 

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales


Market Recap: Mortgage Apps Up, Consumer Price Index Accelerates, Retail Sales Climb

  • November 15, 2019

Mortgage rates trended slightly lower this week, continuing to hover near year-long lows.  The Mortgage Bankers Association (MBA) weekly mortgage application survey reacted with an increase in both new purchase and refinance mortgage applications.  Both the consumer price index and core CPI increased.  Retail sales are also up.

Read Market Recap: Mortgage Apps Up, Consumer Price Index Accelerates, Retail Sales Climb


Real Estate Investing: Single-Family Homes vs. Apartment Buildings

  • November 14, 2019

When you invest in residential real estate you either buy to rent or buy to sell.  Buying to rent means you will have to pay for and maintain the property overtime, while renting to a tenant who will ideally offset the cost through the rental payment.  Buying to sell means you buy the home to renovate, repair, and resell for a profit.  When buying to rent, you have the option to buy a single-family home or multi-family units like a row of townhouses or apartment building, depending on your upfront capital and ongoing commitment.  When you are deciding whether to go single-family or multi-family on your residential real estate investment, consider these four points: vacancy, management, maintenance, and capital. 

Read Real Estate Investing: Single-Family Homes vs. Apartment Buildings


How to Take Control of Your Energy Needs

  • November 13, 2019

With last year’s devastating wildfires in our recent memory, PG&E recently made the decision to temporarily shut down power services in high-risk areas.  Power lines taken down by high-speed winds can cause sparks that ignite exceptionally dry foliage.  Downed PG&E power lines have been linked to the 2018 Camp Fire that ripped through Northern California towns like Paradise.  PG&E’s decision to shut off power sheds light on another issue, our reliance on utility companies.  With climate change escalating and more climate-related problems expected to occur, it’s a good time to consider options to take control of your home’s energy needs.

Read How to Take Control of Your Energy Needs


5 Home Improvement Trends from the Home Improvement Research Institute

  • November 12, 2019

Homeowners and home buyers are going to be busy with home improvement projects in 2020.  Many homeowners are taking advantage of lower mortgage rates to refinance and get cash out to reinvest in home improvement projects and many home buyers are choosing to renovate a home they buy rather than wait for the perfect home to go up on the market.  The Home Improvement Research Institute (HIRI) hosted a summit earlier this summer to discuss home improvement trends and make predictions for 2020. 

Read 5 Home Improvement Trends from the Home Improvement Research Institute


Market Forecast: Mortgage Apps, Consumer Price Index, Retail Sales

  • November 11, 2019

There are no economic events scheduled today in observance of the Veterans Day holiday.  On behalf of everyone at our organization, we’d like to thank our Veterans and active-duty military for their service to our country.  The only significant housing report scheduled for this week is the Mortgage Bankers Association (MBA) weekly mortgage application survey scheduled for release on Wednesday.  Other market-moving reports include the consumer price index and retail sales.

Read Market Forecast: Mortgage Apps, Consumer Price Index, Retail Sales


Market Recap: Job Openings Down, Mortgage Apps Mixed, Consumer Credit Report Mixed

  • November 08, 2019

Mortgage rates trended slightly upward this week but continue to come in at historic lows.  Job openings dropped for the fourth straight month.  New purchase mortgage application submissions declined, and refinance mortgage application submissions increased.  Revolving credit declined but non-revolving credit increased. 

 

Read Market Recap: Job Openings Down, Mortgage Apps Mixed, Consumer Credit Report Mixed


7 Inexpensive Ways to Add Value to Your Home

  • November 07, 2019

When you’re staging a home for sale the details matter. A couple of inexpensive changes can make a big difference to potential buyers who are touring your home.  Your Realtor or real estate agent is the expert when it comes to staging your home, but here are some ways you can up the perceived value of your home before you list.

Read 7 Inexpensive Ways to Add Value to Your Home


Are you financially prepared for an emergency?

  • November 06, 2019

Many Americans are unprepared for an emergency like a car accident or unexpected medical cost.  Traditionally, financial experts recommend having at least six-month’s worth of income saved as an emergency fund to cover costs in case of a financial emergency or job loss.  However, new research reveals the new magic savings number may be lower than you think.  A study of 70,000 lower-income households found that $2,467 may be the magic number when it comes to emergency savings.

Read Are you financially prepared for an emergency?


How the Fed Rate Cut Influences Mortgage Rates

  • November 05, 2019

Last week, the Federal Open Market Committee (FOMC) voted to lower the Federal benchmark interest rate.  As a result, average mortgage rates have trended lower.  When you’re shopping for a new home, you know you’re supposed to pay attention to FOMC decisions, but how exactly does the recent rate cut influence your future mortgage rate?  The Federal benchmark interest rate does influence the cost to borrow to money for a mortgage or other loan, but there are other factors that impact how mortgage interest rates are determined.

Read How the Fed Rate Cut Influences Mortgage Rates


Market Forecast: Job Openings, Mortgage Apps, Consumer Credit

  • November 04, 2019

Last week, the Federal Open Market Committee (FOMC) voted in favor of a rate cut and mortgage rates reacted by trending lower.  This week, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) is scheduled for release on Tuesday and the consumer credit report comes out on Thursday.  The only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey on Wednesday.

Read Market Forecast: Job Openings, Mortgage Apps, Consumer Credit


Market Recap: Fed Cuts Rates, Home Price Appreciation Slows, Pending Home Sales Jump

  • November 01, 2019

As expected, the Federal Open Market Committee voted to lower the federal benchmark interest rate to a targeted range of 1.5-1.75%.  Mortgage rates will likely trend downward as a result.  The S&P Core-Logic Case-Shiller home price index depreciated month-over-month and moved up just slightly year-over-year.  The pending home sales index climbed. 

Read Market Recap: Fed Cuts Rates, Home Price Appreciation Slows, Pending Home Sales Jump


Warning: 7 Outdated Home Décor Trends According to Real Estate Experts

  • October 31, 2019

When you’re selling your home, you want potential buyers to be able to picture themselves living there.  Staging your home is an important part of that and so is avoiding or changing outdated décor trends.  Apartment Therapy interviewed real estate agents, brokers, and Realtors from around the country to define these top trends to avoid.

Read Warning: 7 Outdated Home Décor Trends According to Real Estate Experts


Teaching Your Kids About Money Can Start Early

  • October 30, 2019

You may not think you need to start talking to your kids about money until they get their first job or start applying for college.  However, introducing your kids to financial concepts early can help them develop a stronger understanding when it’s time for them to start earning and spending their own money.  Children as young as toddlers are able to comprehend simple concepts like spending, saving, and earning, when you lay the groundwork early.  Here are some concepts you can introduce to your kids early, so they understand money later.

Read Teaching Your Kids About Money Can Start Early


Looking to flip homes? Look in the Midwest!

  • October 29, 2019

Home flipping, or buying a home at a low price to sell for a profit, is one of the ways real estate investors make money.  The practice is usually popular in markets experiencing rapid home price appreciation, like Las Vegas or Miami.  A new study from Realtor.com found that one of the best markets for flipping homes may not be where you expect – St. Louis, MO. 

Read Looking to flip homes? Look in the Midwest!


Market Forecast: FOMC Meeting, Case-Shiller Home Price Index, and Pending Home Sales Index

  • October 28, 2019

This week, the Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday, and Federal Reserve Chair Jerome Powell will give a press conference on Wednesday following the release of the FOMC announcement.   In housing news, the S&P CoreLogic Case-Shiller home price index and the pending home sales index are both scheduled for release on Tuesday.

Read Market Forecast: FOMC Meeting, Case-Shiller Home Price Index, and Pending Home Sales Index


Market Recap: Existing Home Sales Down, Mortgage Apps Fall, New Home Sales Slip

  • October 25, 2019

Mortgage rates did not move significantly this week ahead of next week’s Federal Open Market Committee (FOMC) meeting.  Existing home sales declined in September.  Both new purchase and refinance mortgage application submissions are down.  New home sales also declined. 

Read Market Recap: Existing Home Sales Down, Mortgage Apps Fall, New Home Sales Slip


Why Your Home Might Sell for Less than you Expect

  • October 24, 2019

The last thing you want to happen when you’re selling your home is for it to sell for less than you expected.  If you’re selling your current home, you’re probably in the process of buying a new home.  Selling your home for $5,000 or even $10,000 less than you expected to sell it for can seriously shrink your moving budget. 

Read Why Your Home Might Sell for Less than you Expect


Are you making this big money-saving mistake?

  • October 23, 2019

Chances are if you’re working, you are saving for retirement.  Most employers have a retirement savings program where employees can set aside pretax money directly out of their paycheck and save it in a retirement account.  While most of us know we are “saving for retirement,” we may forget we are actually “investing for retirement.”  The money you deposit in your 401(k), Roth IRA, or other retirement account is typically invested in the stock market so your money grows. 

Read Are you making this big money-saving mistake?


Expect Bidding Wars this Fall

  • October 22, 2019

After an unseasonably slow Spring, and two late-in-the-year rate cuts, many real estate professionals are expecting a busy Fall, bidding wars included.  Typically, bidding wars tend to drop off when the housing market cools down in the Fall and Winter months, dropping about 15 percentage points from March to September. However, Redfin reports in September 2019, 11% of offers written by the firm faced a bidding war, up from 10% of offers in August.  This figure may be down substantially from the 41% of offers facing a bidding war in September 2018, but the trend goes against the seasonal pattern the market has seen from 2013-2018.  

Read Expect Bidding Wars this Fall


Market Forecast: Existing Home Sales, Mortgage Apps, and New Home Sales

  • October 21, 2019

Mortgage rates did not move significantly this week, trending slightly downward according to some sources.  This week will be a big week for housing with both the existing home sales and new home sales reports scheduled for release.  The Mortgage Bankers Association (MBA) weekly mortgage application survey will come out on Wednesday.

Read Market Forecast: Existing Home Sales, Mortgage Apps, and New Home Sales


Market Recap: Home Builder Sentiment Improves, Mortgage Apps Mixed, Housing Starts and Building Permits Declined

  • October 18, 2019

Mortgage rates did not change significantly this week, trending slightly downward according to some sources.  Home builder sentiment reached the highest level in almost two years.  New purchase mortgage application submissions declined, and refinance mortgage application submissions increased.  After strong numbers in August, housing starts and building permits declined. 

Read Market Recap: Home Builder Sentiment Improves, Mortgage Apps Mixed, Housing Starts and Building Permits Declined


Investing in Real Estate vs. Stocks

  • October 17, 2019

Real estate is often considered a more stable investment than stocks, but why?  While all investments come with varying degrees of risk and reward, the advantage of investing in real estate is that it tends to appreciate over time, and it is a useable, tangible asset.  Before moving forward with any investment, you should consult a financial advisor.  Investing in real estate is a good option for some and investing in stocks is a better option, although it depends on your how much you are investing and your short-term and long-term goals. 

Read Investing in Real Estate vs. Stocks


Many Seniors Prefer Multigenerational Housing

  • October 16, 2019

Multiple generations living in the same home is growing more common.  In 1980, only 12% of Americans lived in a home that included adults from two or more generations.  In 2018, that figure had risen to 20%.  Living in a multigenerational household can help seniors stay active, healthy, and involved.  Multigenerational housing is becoming so common, that it’s not just family members living together.  Developers are designing co-living spaces to house multiple generations and meet this preference. 

Read Many Seniors Prefer Multigenerational Housing


Medical Debt May Be Hurting More Potential Home Buyers Than Student Debt

  • October 15, 2019

In recent years, student loan debt has been one of the biggest obstacles to saving for the down payment on a home, especially for Millennials and younger first-time home buyers.  A recent Zillow survey of 13,000 households nationwide reveals that another type of debt may be hurting home buyers and renters of all ages, even more than student loan debt.

Read Medical Debt May Be Hurting More Potential Home Buyers Than Student Debt


Market Forecast: Housing Market Index, Housing Starts and Building Permits, and New Home Sales

  • October 14, 2019

Mortgage rates are not expected to move significantly this week and continue to remain historically low.  This week, the National Association of Home Builders’ (NAHB) housing market sentiment index is scheduled for release on Wednesday, followed by housing starts and building permits and new home sales on Thursday. 

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, and New Home Sales


Market Recap: Consumer Credit Expands, Refinance Applications Up, Job Openings Dip

  • October 11, 2019

Mortgage rates have not moved significantly this week and remain historically low.  Consumer credit growth expanded at a somewhat weaker rate, driven by a drop in credit card borrowing.  Mortgage application submissions were mixed.  Job openings declined.

Read Market Recap: Consumer Credit Expands, Refinance Applications Up, Job Openings Dip


How to Buy a Home Out of State

  • October 10, 2019

Any move can be stressful, but moving out of state comes with added intricacies.  Whether you’re moving for a career change, family reasons, or a change of scenery, your new home purchase should not be something to worry about.  Follow these steps to simplify your next big out-of-state move.

Read How to Buy a Home Out of State


Airbnb Invests in Affordable Housing

  • October 09, 2019

Airbnb, the popular short-term rental service, announced a $25 million investment in affordable housing efforts in the San Francisco Bay Area and Los Angeles County.  San Francisco and Los Angeles among other metro areas in the western United States, has experienced rapid home price and rental rate appreciation in recent years.  San Francisco specifically has experienced sustained home price appreciation over the years because of the prevalence of job opportunities, especially tech jobs, and the limited supply of housing. 

Read Airbnb Invests in Affordable Housing


Over Half of Millennial Home Buyers Finance with PMI

  • October 08, 2019

Private mortgage insurance or PMI is typically required when the home buyer finances with a conventional loan and puts down less than 20% for the down payment.  Not to be confused with homeowner’s insurance, private mortgage insurance is insurance for the lender, in case you default on your mortgage.  PMI is usually added on top of the monthly mortgage payment and this extra cost can quickly add up, especially for first-time home buyers that may not fully understand PMI.  

Read Over Half of Millennial Home Buyers Finance with PMI


Market Forecast: Consumer Credit, Mortgage Applications, and Job Openings

  • October 07, 2019

Mortgage rates trended slightly lower last week.  This week, the only directly related housing report is the Mortgage Bankers Association (MBA) weekly mortgage application survey.  The Federal Open Market Committee (FOMC) will release the minutes from its last semiannual monetary policy meeting giving economists a better understanding of what to expect for the rest of the year.  Other market-moving reports include consumer credit and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS).  

Read Market Forecast: Consumer Credit, Mortgage Applications, and Job Openings


Market Recap: Construction Spending Up, Mortgage Apps Rebound, ADP Employment Report Down Slightly

  • October 04, 2019

Mortgage rates trended lower this week, continuing to touch down on year-long lows.  US construction spending increased slightly, but residential construction spending specifically jumped.  Both new purchase and refinance mortgage application submissions are up.  The ADP employment report was lower than expected. 

Read Market Recap: Construction Spending Up, Mortgage Apps Rebound, ADP Employment Report Down Slightly


Why School Districts Matter, Even if You Don’t Have School-Age Children

  • October 03, 2019

When you’re looking at listings for your new home, you’ll often find the local school district rating featured right beside crime statistics and other important local data.  Even if you do not have school-age children, the ranking of your neighborhood school district matters because it will influence the overall value of your home and when it comes time to sell, may even help sell your home faster and earn a larger profit.

Read Why School Districts Matter, Even if You Don’t Have School-Age Children


Average Consumer FICO Score Reaches 706

  • October 02, 2019

Consumer credit scores continue to recover in the wake of economic recovery, most recently hitting a new record high FICO score of 706.  The FICO credit score is the most widely accepted credit score used by banks and lenders to assess a consumer’s credit risk and ability to repay a loan or a line of credit.  By comparison, just ten years ago, at the end of the Great Recession, the average FICO credit score was only 686. 

Read Average Consumer FICO Score Reaches 706


What Not to Do When the Fed Cuts Interest Rates

  • October 01, 2019

Last month, the Federal Open Market Committee (FOMC) voted for a quarter-point interest rate cut, the second one this year.  When the Fed cuts the Federal benchmark interest rate, all interest rates will react by trending lower.  The cost of borrowing money, like the average mortgage rate, will fall, but the return on your savings account will also be lower, and can hurt some savers expecting to earn interest income. 

Read What Not to Do When the Fed Cuts Interest Rates


Market Forecast: Construction Spending, Mortgage Apps, and ADP Employment Report

  • September 30, 2019

Average mortgage rates are still historically low following the two recent Federal Reserve rate cuts.  This week in housing news, US construction spending comes out on Tuesday and the Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Sunday.  In jobs-related news, the ADP employment report is scheduled for release on Thursday. 

Read Market Forecast: Construction Spending, Mortgage Apps, and ADP Employment Report


Market Recap: Home Price Appreciation Slows, Pending Home Sales Rebound

  • September 27, 2019

Average mortgage rates trended slightly upward this week, but still remain close to year-long lows.  The S&P CoreLogic Case-Shiller home price index was unchanged from June to July, and the Federal Housing Finance Agency (FHFA) house price index increased slightly.  Pending home sales increased.

Read Market Recap: Home Price Appreciation Slows, Pending Home Sales Rebound


Profile of Today’s First-Time Home Buyer

  • September 26, 2019

Do today’s first-time home buyers look drastically different from the first-time home buyers of twenty years ago?  In some ways they do but in many ways they don’t.  Harvard University’s Joint Center for Housing Studies analyzed over twenty years of housing data from the Department of Housing and Urban Development and American Housing Surveys to evaluate what today’s first-time home buyers look like, what trends have persisted, and what’s new.

Read Profile of Today’s First-Time Home Buyer


Did you know your homeowner’s insurance may cover this?

  • September 25, 2019

You get homeowner’s insurance to protect your family and your property from fire, thefts, and weather damage, but did you know it may also cover other unexpected hazards?  Consumer Reports collaborated with the Insurance Information Institute and found six surprising incidents your homeowner’s insurance may cover. 

Read Did you know your homeowner’s insurance may cover this?


Home Buyers Rank Air Conditioning Over Proximity to Family and Friends

  • September 24, 2019

We’ve all heard the familiar real estate mantra “Location, Location, Location,” but today’s home buyers and renters are consistently ranking this home feature as the most important.  Zillow Group’s 2018 Consumer Housing Trends Report found that air conditioning was the most important housing feature ranked even above proximity to family and friends. 

Read Home Buyers Rank Air Conditioning Over Proximity to Family and Friends


Market Forecast: Case-Shiller Home Price Index, FHFA House Price Index, Pending Home Sales Index

  • September 23, 2019

Last week, the Federal Open Market Committee (FOMC) voted to cut the Federal benchmark interest rate, and mortgage rates responded by trending lower.  This week, the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index are both scheduled for release on Tuesday.  The pending home sales index will come out on Thursday.

Read Market Forecast: Case-Shiller Home Price Index, FHFA House Price Index, Pending Home Sales Index


Market Recap: Housing Market Index Up, Housing Starts and Building Permits Jump, Existing Home Sales Jump

  • September 20, 2019

As expected, the Federal Open Market Committee (FOMC) voted to lower the benchmark interest rate by a quarter-point to a target range of 1.75% to 2%.  Mortgage rates reacted by trending lower.  The National Association of Home Builders’ (NAHB) housing market index ticked upward.  Housing starts and building permits each turned around.  Existing home sales climbed to a 17-month high.

Read Market Recap: Housing Market Index Up, Housing Starts and Building Permits Jump, Existing Home Sales Jump


Listing Your Home? Emphasize These Features if You’ve Got Them

  • September 19, 2019

When you’re selling your home, you’re likely on a deadline.  You have to get an offer on your current home, make an offer on your new home, and move all within a relatively tight timeline, especially if you live in or are moving to a busy market.  Selling your home faster can be as easy as emphasizing certain features that buyers find appealing.  Zillow analyzed 4.6 million home sales across the country from 2017 to 2018 and found that these features tended to sell homes faster and, in some cases, net a greater profit.

 

Read Listing Your Home? Emphasize These Features if You’ve Got Them


Watch Out: 6 Common HOA Rules You May Accidentally Break

  • September 18, 2019

In communities managed by a Homeowners Association (HOA), homeowners typically have to adhere to certain guidelines and rules known as covenants, conditions, and restrictions (CC&Rs).  If you break one of your HOA’s CC&Rs you may face a fine in addition to your monthly or yearly dues.  When you move into a new home, it’s important to read your HOA CC&Rs thoroughly.  Seemingly routine changes to your home’s exterior or a friend visiting in a Recreational Vehicle may violate the rules and leave you with a fine or worse.

Read Watch Out: 6 Common HOA Rules You May Accidentally Break


A Buyer’s Market Likely Coming this Fall

  • September 17, 2019

Fall home buyers may be in luck.  This summer, mortgage rates touched down to the lowest levels in three years.  Whether or not the Federal Open Market Committee (FOMC) votes for a rate cut tomorrow, mortgage rates will likely stay historically low through the end of this year.  Additionally, appraisals have gotten harder, and many buyers are making more cautious decisions.  Thus, sellers are not able to price their home as high as they did earlier this year.

Read A Buyer’s Market Likely Coming this Fall


Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales

  • September 16, 2019

Mortgage rates did not move significantly last week, continuing to hover around historic lows.  The Federal Open Market Committee will meet on Tuesday and Wednesday of this week and is expected to cut interest rates.  In housing news, the National Association of Home Builders (NAHB) housing market index is scheduled for release on Tuesday, followed by housing starts and building permits on Wednesday, and existing home sales on Thursday.

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales


Market Recap: Consumer Credit Expands, Job Openings Down, Mortgage Apps Up

  • September 13, 2019

Mortgage rates stayed near year-long lows this week, skewing slightly higher according to some sources.  Consumer credit expanded in July, powering overall economic growth.  Job openings are down and voluntary quit rates are up, as the labor market stays strong.  Both new purchase and refinance mortgage application submissions are up. 

Read Market Recap: Consumer Credit Expands, Job Openings Down, Mortgage Apps Up


Do the Math: How much do you need to save for a down payment?

  • September 12, 2019

When you’re ready to buy a home, one of the first questions that will come to mind is naturally “how much do I need to save for a down payment?”  The amount needed for the down payment will vary depending on the type of loan you choose.  Many home buyers believe a 20% down payment is needed to buy a home, but that’s not always the case.  In 2018, the National Association of Realtors (NAR) found that 55% of all home buyers bought their home with a down payment of 6% or less, and 72% of first-time home buyers used a down payment of 6% or less.  To determine how much you will need to save for a down payment, start with these equations.

Read Do the Math: How much do you need to save for a down payment?


Think You’re Saving Money on that Fixer-Upper? Think Again!

  • September 11, 2019

Many home buyers choose to buy a fixer-upper for financial reasons.  They often expect the cost of the home combined with the cost of the needed improvements will still be less than buying a comparable move-in ready home.  A recent survey of 1,069 homeowners from Porch.com, found that although buyers who bought a fixer-upper spent on average $50,000 less than their counterparts who bought move-in ready homes.  But they tended to spend that difference, or more, on renovations and repairs to make their home livable.

Read Think You’re Saving Money on that Fixer-Upper? Think Again!


Would a Recession Impact Today’s Housing Market?

  • September 10, 2019

Lately, numerous networks have been broadcasting news about an impending recession.  The economy ebbs and flows through various economic cycles, and there are times when sustained growth is followed by a downturn.  After the longest period of economic expansion in American history, a recession would not be unusual.  When we hear “recession” today, many of us may immediately recall the Financial Crisis of 2007-2008 and the ensuing Great Recession.  The Great Recession was brought on in part by irresponsible lending practices and the housing market collapse.  However, if a recession takes place soon, it will likely not have the same impact on housing as the Great Recession.   

Read Would a Recession Impact Today’s Housing Market?


Market Forecast: Consumer Credit, JOLTS, and Mortgage Applications

  • September 09, 2019

There are no significant housing reports scheduled for this week, aside from the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include the consumer credit report and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS). 

Read Market Forecast: Consumer Credit, JOLTS, and Mortgage Applications


Market Recap: Construction Spending Improves, Mortgage Apps Mixed, ADP Employment Report Beats Predictions

  • September 06, 2019

Markets were closed on Monday in observance of the Labor Day holiday.  Mortgage rates continued their downward trend this week, touching down on year-long lows.  Construction spending improved in July.  New purchase application submissions were up, but refinance application submissions were down.  The ADP employment report exceeded expectations.

Read Market Recap: Construction Spending Improves, Mortgage Apps Mixed, ADP Employment Report Beats Predictions


CMG Financial's Colleen Schofield Recognized as 2019 HousingWire Insider

  • September 05, 2019

National mortgage media group HousingWire announced its 2019 HousingWire Insiders, a carefully selected list of the industry’s unsung heroes making moves behind the scenes to ensure the success of their organizations. CMG Financial’s Colleen Schofield, Operations Manager of the Eastern Division, was honored among 50 other winners nationwide. 

Read CMG Financial's Colleen Schofield Recognized as 2019 HousingWire Insider


How Soon is too Soon to Sell Your Home?

  • September 05, 2019

The home you buy today is not always going to be the home you live in forever.  Sometimes the need to move may come sooner than you expect.  Most real estate professionals recommend waiting at least five years after buying a home before selling it to make sure you recoup the cost of the home purchase.  However, circumstances vary, and in some cases, you could benefit from selling your home sooner rather than later.  Realtor.com contributor, Larissa Runkle, identified three times when you should break the “5-year rule.”

Read How Soon is too Soon to Sell Your Home?


Tesla Tests Rental Solar Panels in Six States

  • September 04, 2019

Since Tesla acquired SolarCity in 2016, residential solar panel installations have stalled.  High installation costs create a financial barrier for many homeowners to switch to solar panels, despite the long-term energy savings.  To make its solar panels more accessible, Tesla is pioneering a rental program in Arizona, California, Connecticut, Massachusetts, New Jersey, and New Mexico, with no installation costs and no time commitment. 

Read Tesla Tests Rental Solar Panels in Six States


Trump Administration Prepared to Release Fannie Mae and Freddie Mac Reform Plan Soon

  • September 03, 2019

The Trump Administration is expected to release its plan to return Fannie Mae and Freddie Mac to private-shareholder ownership early this month.  Although Treasury Secretary Steve Mnuchin initially pledged housing finance reform was a top priority when he took office, the issue has taken a backseat to other policy matters throughout the Trump presidency.  This proposal was expected to be announced earlier this summer but was delayed by revisions from the Department of Housing and Urban Development. 

Read Trump Administration Prepared to Release Fannie Mae and Freddie Mac Reform Plan Soon


Market Forecast: Construction Spending, Mortgage Applications, ADP Employment Report

  • September 02, 2019

Markets are closed today in observance of the Labor Day holiday.  This will be a short week with lots of news.  The US construction spending report comes out on Tuesday, the Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday, and the ADP employment report comes out on Wednesday.  

Read Market Forecast: Construction Spending, Mortgage Applications, ADP Employment Report


Market Recap: Home Price Appreciation Slows, Pending Home Sales Decline

  • August 30, 2019

Mortgage rates trended downward this week, touching year-long lows according to some sources.  Both the Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index showed a slowdown of home price appreciation in June.  Pending home sales declined. 

Read Market Recap: Home Price Appreciation Slows, Pending Home Sales Decline


4 Ways to Reduce Your Biggest Expense During Retirement

  • August 29, 2019

Whether it’s your mortgage payment or your monthly rent, housing is most retirees’ biggest recurring expense.  According to the Bureau of Labor Statistics, the average household headed by an adult 65 or older spends nearly 34% of their income on housing and housing-related expenses like insurance, property taxes, maintenance needs, and utilities.  For many, retiring means a fixed income and the prospect of monthly housing costs may seem daunting, especially added onto other needs like medical expenses and travel.  Financial contributors at the Motley Fool compiled this list of four ways to reduce your biggest expense during retirement. 

Read 4 Ways to Reduce Your Biggest Expense During Retirement


Low-Cost Ways to Make Your Bathroom Feel Brand New

  • August 28, 2019

Whether you just moved into your home or have lived there for years, renovations do not have to be costly.  Bathrooms are one of the most popular rooms to renovate following kitchen renovations.  There are ways to spruce up your bathroom without breaking the bank.  If you’re not ready for a full bathroom makeover, try some of these ideas.

Read Low-Cost Ways to Make Your Bathroom Feel Brand New


Millennial Homeowners Driving Home Improvement Spending

  • August 27, 2019

Determined to become homeowners in today’s competitive housing market, Millennials have found a new way to get what they want out of their home purchase; home improvement.  In many metros, especially high-cost areas with rising home prices, first-time home buyers like Millennials have found choosing to buy a home that needs renovation or repair allows them to become a homeowner sooner and start building valuable home equity from their real estate investment.  CNBC reported last year, homeowners who had mortgages experienced an 8% annual equity increase, adding up to $678 billion in excess home equity or approximately $9,700 per homeowner. 

Read Millennial Homeowners Driving Home Improvement Spending


Market Forecast: Case-Shiller Home Price Index, FHFA House Price Index, and Pending Home Sales Index

  • August 26, 2019

Mortgage rates did not move significantly last week, continuing to hover near historic lows.  This week, two readings on home price appreciation trends will be released.  Both the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index are scheduled for release on Tuesday.  The pending home sales index comes out on Thursday.

Read Market Forecast: Case-Shiller Home Price Index, FHFA House Price Index, and Pending Home Sales Index


Market Recap: Mortgage Apps Flat, Existing Home Sales Increase, New Home Sales Decline

  • August 23, 2019

Mortgage rates flattened out this week, not moving significantly in either direction.  As a result, mortgage activity was slow.  Existing home sales increased in July, possibly triggered by this summer’s lower mortgage rates.  New home sales fell sharply.

Read Market Recap: Mortgage Apps Flat, Existing Home Sales Increase, New Home Sales Decline


Reasons Not to Get a Mortgage Online

  • August 22, 2019

The idea of a totally digital mortgage experience may sound alluring to anyone with a busy schedule of daily demands.  But when it comes to a six (or more!) digit transaction, there is an advantage to having a real person on your side to advocate on your behalf.  Even if you prefer to get started filling out your application online or through our mobile app, working with a real loan officer and not a customer service hotline empowers you to cross the finish line with confidence.

Read Reasons Not to Get a Mortgage Online


6 Ways to Start Your Winter Home Maintenance this Summer

  • August 21, 2019

If you’re kicking back by the pool, the last thing on your mind is colder weather ahead.  But fast forward to the winter months and imagine going out to check your gutter leak in the chilling wind.  Preparing your home for the winter months during the summer can save you tons of aggravation, and even reduce the need for expensive repairs. 

Read 6 Ways to Start Your Winter Home Maintenance this Summer


Trump Administration Moves to Restrict FHA Mortgage Refinance Limits

  • August 20, 2019

In lieu of the Federal Reserve’s rate cut, many homeowners are considering a mortgage refinance.  Refinancing your mortgage could help you lower your monthly mortgage payment through a lower interest rate, reduce or eliminate mortgage insurance, change loan programs or terms, or get cash out.  When homeowners get cash out, they are able to use their home’s equity to finance other needs like a home renovation project or to pay down higher interest debt. 

Read Trump Administration Moves to Restrict FHA Mortgage Refinance Limits


Market Forecast: Mortgage Applications, Existing Home Sales, New Home Sales

  • August 19, 2019

Mortgage rates continue to trend lower, reaching year-long lows in many cases.  This week, both the existing home sales and new home sales reports are scheduled for release.  The Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday.

 

Read Market Forecast: Mortgage Applications, Existing Home Sales, New Home Sales


Market Recap: Mortgage Apps Climb, Home Builder Sentiment Improves, Housing Starts Decline but Building Permits Increased

  • August 16, 2019

Mortgage rates have not moved significantly this week, staying near year-long lows.  Lower rates led to a significant increase in refinance mortgage applications.  The National Association of Home Builders (NAHB) housing market index improved.  Housing starts fell but building permits jumped. 

Read Market Recap: Mortgage Apps Climb, Home Builder Sentiment Improves, Housing Starts Decline but Building Permits Increased


FHA Issues New Condominium Approval Rule

  • August 15, 2019

With new guidelines set to become effective on October 15, 2019, condominium financing will become more accessible for FHA borrowers.  Previously, to finance a condominium unit with an FHA loan the condo project had to meet approval requirements.  With the new policy, individual condo units that are not part of an FHA-approved condo project can still be eligible for FHA financing.  The policy change is a response to the need for more affordable options for first-time home buyers in today’s competitive market. 

Read FHA Issues New Condominium Approval Rule


Choosing the Right Size Home: Floor Plan vs. Square Footage

  • August 15, 2019

After budget and location, the number of rooms and the square footage are among the top factors home buyers consider.  However, when you’re buying a new home, bigger isn’t always better.  Touring the actual homes you’re considering purchasing, rather than just relying on the reported square footage, allows you to see how the home is setup.  A larger home with poorly used space won’t serve you as well as a smaller home with the right layout.  When you see a home within your budget and a larger than expected square footage, take a tour with your Realtor or real estate agent.  Make sure the layout suits your needs and you don’t get stuck with unusable space.

Read Choosing the Right Size Home: Floor Plan vs. Square Footage


5 Most Common First-Time Home Buyer Mistakes, According to Realtors

  • August 14, 2019

When you’re buying a home, especially for the first time, working with a Realtor or real estate agent can help you avoid any rookie mistakes.  Lifestyle blog, Apartment Therapy, polled real estate agents from around the country to identify the most common first-time home buyer mistakes, and how you can avoid them. 

Read 5 Most Common First-Time Home Buyer Mistakes, According to Realtors


More Americans Qualifying for Jumbo Mortgage Loans

  • August 13, 2019

The Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI) revealed it was easier to get a jumbo loan in June 2019 than it has been in the past eight years.  All types of mortgage loans saw increases in credit availability, but jumbo loan credit availability marked the 6th straight month of increases.  Home buyers use jumbo loans to finance homes with purchase prices higher than the conforming loan limits. 

Read More Americans Qualifying for Jumbo Mortgage Loans


CMG Financial Appoints Drew Dyet, Senior Vice President, Wholesale Lending

  • August 13, 2019

CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, California, announced today the promotion of Drew Dyet to lead its Wholesale Lending Channel. As Senior Vice President, Drew will spearhead enhancements for wholesale broker partners and continue to source new investment opportunities to improve the mortgage transaction for both the broker and loan officer. With vast experience ranging from loan origination to senior management, Drew is intimately aware of what brokers and loan officers need to grow their market share. 

Read CMG Financial Appoints Drew Dyet, Senior Vice President, Wholesale Lending


CMG Financial Welcomes Rodriguez-Hazard Team in San Clemente, CA

  • August 13, 2019

CMG Financial, a privately held, well-capitalized mortgage banking firm headquartered in San Ramon, California, announced today the addition of the Rodriguez-Hazard Team in San Clemente, California. CMG continues to invest in Orange County sales leaders to expand its Southern California footprint. Al Rodriguez and Reed Hazard will lead the new outpost as Area Sales Managers. CMG also welcomes Brian Kane, Sales Manager; Amy Lyons Vilardo, Sales Manager; Josh Varela, Retail Production Manager; and Samira Hurd, Business Development Manager.

Read CMG Financial Welcomes Rodriguez-Hazard Team in San Clemente, CA


Market Forecast: Mortgage Apps, Housing Market Index, and Housing Starts and Building Permits

  • August 12, 2019

Mortgage rates have fallen to year-long lows, amidst the Federal Open Market Committee’s vote to cut rates.  This week, there are several important housing reports ahead including the Mortgage Bankers Association (MBA) weekly mortgage application survey, the National Association of Home Builders’ (NAHB) housing market sentiment index, and housing starts and building permits. 

Read Market Forecast: Mortgage Apps, Housing Market Index, and Housing Starts and Building Permits


Market Recap: Job Openings Down Slightly, Refinance Apps Surge, Consumer Credit Expands

  • August 09, 2019

Mortgage rates trended downward this week, reaching year-long lows according to some sources.  Job openings slipped slightly.  New purchase mortgage application submissions declined but refinance mortgage application submissions are up.  Consumer credit expanded less than expected.

Read Market Recap: Job Openings Down Slightly, Refinance Apps Surge, Consumer Credit Expands


Forbes Real Estate Council’s Realtor Recommendations

  • August 08, 2019

Choosing the right Realtor or real estate agent will greatly influence how your home purchase goes.  Your Realtor or real estate agent will connect you with the right listings in your community and be your number one advocate when it’s time to make an offer.  Forbes polled leading real estate executives from its Forbes Real Estate Council and found these top five things to look for when choosing a Realtor or real estate agent.

Read Forbes Real Estate Council’s Realtor Recommendations


Save Money by Never Buying These 5 Things New

  • August 07, 2019

We all have savings goals we are trying to reach.  While we generally can’t change when we need to buy something, we can change how we buy it.  Buying used instead of new can help you save substantially on some more expensive necessities.   Whether you’re saving to pay down student loans, buy a home, or invest elsewhere, these simple strategies can help boost your savings efforts. 

Read Save Money by Never Buying These 5 Things New


Mortgage Delinquency Rate Falls to 20-Year Low

  • August 06, 2019

The latest CoreLogic monthly Loan Performance Insights Reports revealed Americans are better at making their mortgage payments on time than they have been in the past two decades.  A delinquent mortgage is defined as a mortgage that has been past due for 30 days or more.  As of April 2019, the national mortgage delinquency rate dropped to 3.6%. 

Read Mortgage Delinquency Rate Falls to 20-Year Low


Market Forecast: Job Openings, Mortgage Applications, and Consumer Credit

  • August 05, 2019

Last week, the Federal Open Market Committee voted for its first rate cut in 10 years.  Mortgage rates reacted by trending downward.  This week, the only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and consumer credit. 

Read Market Forecast: Job Openings, Mortgage Applications, and Consumer Credit


Market Recap: Rate Cut, Home Appreciation Slows, Pending Home Sales Up

  • August 02, 2019

In a widely anticipated move, the Federal Open Market Committee voted to cut the federal benchmark interest rate by .25 bps.  Mortgage rates trended slightly lower following the announcement.  The S&P CoreLogic Case-Shiller home price index showed home price appreciation has continued to slow down in many metros across the country.  Pending home sales continued to increase.

Read Market Recap: Rate Cut, Home Appreciation Slows, Pending Home Sales Up


Build-to-Rent Housing Growing Popular

  • August 01, 2019

With foreclosure and distressed property sales at an all-time low, investors are looking for new ways to satisfy the growing demand for single-family rental homes.  Today, distressed properties account for just 2% of home sales, down substantially from the high of 49% in March 2009.  At the same time, renters are shifting away from apartments and multifamily living and seeking single-family homes.  Home builders around the country are seizing this opportunity to build homes to rent.

Read Build-to-Rent Housing Growing Popular


Solar Panels Could Increase Your Home’s Resale Value

  • July 31, 2019

Homeowners switch to solar panels to reduce energy costs and lower their environmental impact.  As an added bonus, Zillow researchers uncovered that homes with solar panels sell for 4.1% more on average that similar homes without solar power.  The value of adding solar panels to your home varies depending on the market.  On the lower impact end of the spectrum, homes in Riverside, CA sold for an average 2.7% or $9,926 more.  Comparatively on the higher impact end of the spectrum, homes in New York, NY sold for an average 5.4% or $23,989 more.  

Read Solar Panels Could Increase Your Home’s Resale Value


How Tomorrow’s Federal Open Market Committee Vote Impacts You

  • July 30, 2019

The Federal Open Market Committee (FOMC) meets today and tomorrow and most analysts are expecting a quarter-point rate cut based on messaging in the Fed’s Beige Book released earlier this month.  If the Fed votes for a rate cut, all interest rates will react accordingly.  The cost to borrow money will decrease, possibly making it more affordable for you to take out a mortgage to buy a home or finance a vehicle purchase.  However, the interest you earn from your savings account will also decrease. 

Read How Tomorrow’s Federal Open Market Committee Vote Impacts You


Market Forecast: Case-Shiller Home Price Index, Pending Home Sales Index, and Federal Open Market Committee Meeting

  • July 29, 2019

The Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday of this week, and a rate cut is widely expected.  Federal Reserve Chair Jerome Powell will host a press conference at 2:30 ET on Wednesday.  In housing news, the S&P CoreLogic Case-Shiller home price index and the pending home sales index will both be released on Tuesday.

Read Market Forecast: Case-Shiller Home Price Index, Pending Home Sales Index, and Federal Open Market Committee Meeting


Market Recap: Home Price Appreciation Slows, Existing Home Sales Decline, New Home Sales Increase

  • July 26, 2019

Mortgage rates have not moved drastically this week, trending somewhat lower according to some sources.  Home price appreciation has also slowed, according to the Federal Housing Finance Agency (FHFA) house price index.  Existing home sales fell, but new home sales rebounded. 

Read Market Recap: Home Price Appreciation Slows, Existing Home Sales Decline, New Home Sales Increase


House Flipping Myths You Might Believe

  • July 25, 2019

One of the ways to make money through a real estate investment is to buy a home to sell or “flip.”  Although some flips, especially the ones featured on reality television, involve distressed or foreclosed properties, this will vary greatly depending on the property you buy.  Buying a distressed property may mean a lower buy-in price but buying a livable home in an area with rapid home price appreciation could also yield a sizable profit.  With the popularity of house flipping shows plus a surge in house flipping following the Financial Crisis, many potential real estate investors have false preconceived notions about what goes into the purchase and resale of a home for profit.  Realtor.com contributor, Terri Williams, reveals some of the most common house flipping myths you might believe. 

Read House Flipping Myths You Might Believe


Are you making these air conditioning mistakes?

  • July 24, 2019

Things are heating up this summer, and chances are your energy costs are inevitably going to go up.  Home-energy monitoring company, Sense, reports the average cost to air condition a home in the United States is about $147.82.  This figure varies widely based on geography, with a median cost of $292.90 per home in the Sun Belt and $95 per home bordering Canada.  Most homeowners need to air condition their homes at least for some part of the summer, but there are ways to do so and save.

Read Are you making these air conditioning mistakes?


Price Gap: What’s for Sale vs. What Buyers Want

  • July 23, 2019

Mortgage rates may be on a downward trend, but home buyers in many metros are still facing out of budget home prices.  Researchers at Realtor.com found half of today’s home shoppers are expecting to purchase a property under $288,000.  Unfortunately, that’s 9.1% or $27,000 lower than the median sales price of homes on the market.  In order to bridge that price gap, Realtor.com estimates the market needs roughly 94,000 more homes priced between $100,000 and $340,000, a 15% inventory increase on a market already starved of inventory.

Read Price Gap: What’s for Sale vs. What Buyers Want


CMG Financial Appoints Drew Dyet, Senior Vice President, Wholesale Lending

  • July 23, 2019

CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, California, announced today the promotion of Drew Dyet to lead its Wholesale Lending Channel. As Senior Vice President, Drew will spearhead enhancements for wholesale broker partners and continue to source new investment opportunities to improve the mortgage transaction for both the broker and loan officer. With vast experience ranging from loan origination to senior management, Drew is intimately aware of what brokers and loan officers need to grow their market share. 

Read CMG Financial Appoints Drew Dyet, Senior Vice President, Wholesale Lending


Market Forecast: FHFA House Price Index, Existing Home Sales, New Home Sales

  • July 22, 2019

Mortgage rates continued to stay low last week, especially with speculation about a rate cut later this year.  This week, the Federal Housing Finance Agency will release its housing market index.   Additionally, existing home sales and new home sales are both scheduled for release. 

Read Market Forecast: FHFA House Price Index, Existing Home Sales, New Home Sales


Market Recap: Builder Sentiment Improves, Mortgage Apps Mixed, Housing Starts and Building Permits Decline

  • July 19, 2019

Mortgage rates are continuing to trend downward ahead of this month’s Federal Open Market Committee (FOMC) meeting.  The National Association of Home Builders’ (NAHB) housing market sentiment index improved.  New purchase mortgage application submissions declined but refinance application submissions improved.  Both housing starts and building permits declined.

Read Market Recap: Builder Sentiment Improves, Mortgage Apps Mixed, Housing Starts and Building Permits Decline


Don’t Judge a Book by its Cover – What’s Hiding Beyond Your Dream Home’s Exterior

  • July 18, 2019

It’s easy to fall in love with a home at first sight – there’s a reason they call it curb appeal!  Looking beyond a beautiful exterior could help you find costly dangers lurking within.  Some of the common reasons home sales fall through include pending permits, undisclosed insurance claims, pests, water damage, and structural damage.  A home inspection should unearth most potential problems but doing your due diligence before you make an offer can also protect you from falling for the wrong home.

Read Don’t Judge a Book by its Cover – What’s Hiding Beyond Your Dream Home’s Exterior


The Cost of Selling to an “iBuyer”

  • July 17, 2019

In a busy market, selling your home through real estate startups that buy homes directly from buyers may be a tempting offer.  Startups like Knock, Offerpad, and Opendoor solicit bids from “iBuyers” willing to buy its customers’ homes.  A recent MarketWatch investigation found that sellers who sell their homes this way, net 11% less than sellers who sell their homes the traditional way on the open market.  Especially when fees and other costs are considered.  

Read The Cost of Selling to an “iBuyer”


Over 8 Million Borrowers Could Save with a Mortgage Refinance

  • July 16, 2019

After a steady climb throughout 2018, 2019 has seen the opposite in mortgage rate activity.  Average mortgage rates continue to trend lower.  Mortgage software and analytics firm, Black Knight, reported that at the end of June, approximately 8.2 million homeowners could benefit from a mortgage refinance.  This figure is nearly 4.5 times greater than the number of potential refinance candidates at the end of November 2018.

Read Over 8 Million Borrowers Could Save with a Mortgage Refinance


Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Mortgage Apps

  • July 15, 2019

Mortgage rates did not move significantly last week, trending slightly lower amidst speculation that the Federal Open Market Committee may vote to cut the federal benchmark interest rate.  Coming up this week, the National Association of Home Builders (NAHB) will release its monthly housing market sentiment index.  Housing starts and building permits, and the Mortgage Bankers Association (MBA) weekly mortgage application survey are also scheduled for release. 

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Mortgage Apps


Market Recap: Consumer Credit Up, Job Openings Down, Mortgage Applications Mixed

  • July 12, 2019

Mortgage rates stayed low this week, trending downward according to some sources.  Consumer credit expanded for the second month in a row.  Job openings fell in May, but could bounce back, especially after the strong jobs report last week.  New purchase mortgage applications increased but refinance applications are down. 

Read Market Recap: Consumer Credit Up, Job Openings Down, Mortgage Applications Mixed


Can you afford to buy a home?

  • July 11, 2019

When it comes to buying a home, the first question most home buyers ask is “can I afford to buy a home?”  There are numerous factors that influence whether or not you can afford to buy a home.  Home prices may be rising rapidly in one area but may be level just a half-hour drive away.  One loan program may mean high monthly payments, but another could be closer to your budget.  If you find yourself answering “no” to the question of whether or not you can afford to buy a home, consider these solutions below. 

Read Can you afford to buy a home?


Most Common Money Mistakes and How to Avoid Them

  • July 10, 2019

When it comes to financial decisions, consumers’ biggest disadvantage is lack of financial education.  Feeling more comfortable and confident with financial decisions will help you get the most out of your money, save for your future, and better understand your financial picture.  Certified Financial Planner® and the Motley Fool contributor, Matt Frankel, revealed the top money mistakes he sees his clients make and how you can avoid them.

 

Read Most Common Money Mistakes and How to Avoid Them


What Parents Want When Buying Homes

  • July 09, 2019

The need to buy a home is often triggered by milestones like starting a family, children reaching school age, or career movement.  It’s not surprising that almost half of all home buyers and one-third of renters who moved in the past year had children under 18 living at home.  Zillow’s 2018 Consumer Housing Trends Report found that buyers with young children were more likely to go over budget than buyers without children.  Having children significantly changes home buyer wish lists and, in some cases, makes it more difficult to compromise. 

Read What Parents Want When Buying Homes


Market Forecast: Consumer Credit, Job Openings, MBA Applications

  • July 08, 2019

Mortgage rates are still hovering around year-long lows, following dovish remarks by the Federal Open Market Committee at their June meeting.  This week, the only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include consumer credit and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS). 

Read Market Forecast: Consumer Credit, Job Openings, MBA Applications


Market Recap: Construction Spending Declines, Mortgage Apps Mixed, ADP Employment Adds Job

  • July 05, 2019

Mortgage rates continued to swing lower, amidst growing speculation surrounding a Federal rate cut later this year.  Construction spending pulled back.  New purchase mortgage application submissions increased, and refinance mortgage application submissions decreased.  The ADP employment report added fewer jobs than expected but was positive. 

Read Market Recap: Construction Spending Declines, Mortgage Apps Mixed, ADP Employment Adds Job


6 Garage Renovation Ideas

  • July 04, 2019

Own a home with a garage?  Realtor.com reports garage space ranks just as high as an updated kitchen for some prospective home buyers.  If you are interested in upgrading your garage before selling your home or just looking for ways to repurpose unused garage space, review these top garage renovation ideas.  Keep in mind the temperature of your garage, especially during the summer. Most of these renovation ideas may require an HVAC upgrade or other heating and cooling system. 

Read 6 Garage Renovation Ideas


Buying a home with a pool? Read this first!

  • July 03, 2019

Summer is in full swing and if you’ve spent any time waiting in line or shelling out fees to use a community pool, you may be day dreaming about having a pool of your own.  Buying a home with a pool could mean endless summer fun and even a higher resale value when it’s time to move.  It could also be a potential pitfall if you don’t do your due diligence or properly maintain the pool.  Realtor.com contributor Sally Herigstad compiled this list of crucial lessons she learned when buying a home with a pool seven years ago.  Take note!

Read Buying a home with a pool? Read this first!


Why Young Home Buyers are Facing Limited Inventory and What They’re Doing About It

  • July 02, 2019

For the past few years, home buyers have faced a competitive market with a limited number of homes for sale.  One of the chief factors impacting housing supply is the Baby Boomer generation.  Baby Boomers are staying in their homes longer, instead of downsizing or moving into retirement communities.  This trend has kept previous generations, who are homeowners, in their starter homes longer, preventing would-be first-time home buyers from entering the market. 

Read Why Young Home Buyers are Facing Limited Inventory and What They’re Doing About It


Market Forecast: Construction Spending, MBA Applications, ADP Employment Report

  • July 01, 2019

Mortgage rates continue to trend lower.  This week in housing news, US construction spending comes out on Monday followed by the Mortgage Bankers Association (MBA) weekly mortgage application survey on Wednesday.  Other market-moving reports include the ADP employment report.

Read Market Forecast: Construction Spending, MBA Applications, ADP Employment Report


Market Recap: Home Price Appreciation Flat, New Home Sales Decline, Pending Home Sales Improve

  • June 28, 2019

Mortgage rates continue to swing lower, amidst the Federal Open Market Committee’s decision to leave rates unchanged.  Home price appreciation was flat month-over-month but up marginally year-over-year.  New home sales declined, but pending home sales are up.

Read Market Recap: Home Price Appreciation Flat, New Home Sales Decline, Pending Home Sales Improve


You’re Closing on Your Mortgage! Avoid These 5 Things.

  • June 27, 2019

You’re almost there!  You’ve found the perfect home, you’re approved for your mortgage, and you’ve even picked out your new doormat to welcome everyone to the housewarming party you’re planning.  It can take anywhere from a few days to a few weeks to get to your final closing date and certain financial missteps could jeopardize your transaction.

Read You’re Closing on Your Mortgage! Avoid These 5 Things.


Are you making these common house hunting mistakes?

  • June 26, 2019

Buying a home can be an emotional experience, especially for first-time home buyers.  Your new home is going to be the place where you host your holidays, raise your family, and make happy memories.  It’s easy to get caught up in the home search.  However, a seemingly simple mistake could cost you when it comes to the closing table. 

Read Are you making these common house hunting mistakes?


Many Consumers Overestimate Mortgage Requirements

  • June 25, 2019

With today’s historically low rates, you may be considering buying your first home.  Buying a home is the first step most Americans take toward building wealth in the form of home equity.  A recent Fannie Mae survey of 3,647 consumers revealed that a staggering number of respondents vastly overestimate what it takes to get a mortgage. 

Read Many Consumers Overestimate Mortgage Requirements


Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales Index

  • June 24, 2019

Last week, the Federal Open Market Committee (FOMC) voted to leave the benchmark interest rate unchanged.  Mortgage rates reacted by holding steady.  This week, the S&P CoreLogic Case-Shiller home price index, new home sales, and the pending home sales index are all scheduled for release. 

Read Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales Index


VA Thought of the Week: Interest Rate Reduction Refinance Loan Transactions

  • June 24, 2019

In the first 4 installments, we covered overall refinance rules and a detailed review of cash-out refinance rules.  In this installment, we will cover the specifics of an Interest Rate Reduction Refinance Loan transaction.

Read VA Thought of the Week: Interest Rate Reduction Refinance Loan Transactions


Market Recap: No Rate Hike, Home Builder Sentiment Drops, Housing Starts and Building Permits

  • June 21, 2019

The Federal Open Market Committee (FOMC) met on Tuesday and Wednesday this week and voted to leave the federal benchmark interest rate unchanged.  As a result, mortgage rates trended downward.  Home builder sentiment fell slightly.  Housing starts declined and building permits increased. 

Read Market Recap: No Rate Hike, Home Builder Sentiment Drops, Housing Starts and Building Permits


CMG Financial Welcomes New Area Sales Manager, Gary Coffman

  • June 20, 2019

Frisco, TX – CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, announced today the hire of Gary Coffman, Area Sales Manager. will work to grow CMG Financial’s North Texas market share and lead hiring and onboarding efforts throughout the area.

Read CMG Financial Welcomes New Area Sales Manager, Gary Coffman


Benefits and Risks of Home Sharing

  • June 20, 2019

A new practice called “house hacking” is a new name of an old concept, that is getting popular again, especially in expensive markets.  Homeowners rent out one or more rooms in their home, through short-term rental sites or other rental agreements, to help with the cost of their mortgage and even make a profit.  Some homes, like duplexes or homes with mother-in-law suites, are more conducive to renting, while others may require some modifications. 

Read Benefits and Risks of Home Sharing


What to Know About Friends and Family Loans

  • June 19, 2019

Lending money to friends and family, when you are financially able, can be a good way to help someone out and can also be a tricky subject depending on the outcome.  Children may borrow money from parents to attend college or buy a car, siblings may borrow money from each other to pay for an unexpected healthcare cost, and a friend may borrow money to start a business.  If you are considering lending money to a friend or relative there are ways to help them out and still protect yourself. 

Read What to Know About Friends and Family Loans


38% of Home Buyers Exceed Their Budgets

  • June 18, 2019

One of the first steps to buying a new home is setting a reasonable budget.  Getting preapproved for mortgage financing will help you determine how much home you can afford and where you should start looking.  Most mortgage professionals recommend setting a budget below the amount of loan you qualify for, to avoid stretching your finances.  The cost of buying a home comes with the down payment, closing costs, and other ongoing maintenance and renovation costs that may come up during the first few years of homeownership.  A new study from real estate brokerage, Owners.com, found that an alarming 38% of home buyers exceeded their self-imposed budgets over the past four years.

Read 38% of Home Buyers Exceed Their Budgets


Market Forecast: Housing Market Index, Housing Starts and Building Permits, FOMC Meeting

  • June 17, 2019

Mortgage rates did not move much last week, continuing to hover around historically low levels.  The Federal Open Market Committee (FOMC) will meet Tuesday and Wednesday of this week.  Some economists are suggesting a rate hike is warranted, as inflation slows and economic growth loses steam, while others predict the Fed will hold its course of leaving rates unchanged.  Other important housing reports scheduled for release include the National Association of Home Builders (NAHB) housing market sentiment index, housing starts and building permits.

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, FOMC Meeting


VA Thought of the Week: An in-depth Review of the Comparison Certification

  • June 17, 2019

VA created 2 forms for the Comparison Certification.  The first is the estimated or proposed comparison and the second is the final comparison.  Like a Loan Estimate, the proposed comparison must be accurate, but not necessarily perfect.  It can be changed if the circumstances change, and then reissued.  The final comparison is just as important as the final Closing Disclosure.  It must be accurate without exception.

Read VA Thought of the Week: An in-depth Review of the Comparison Certification


Market Recap: Job Openings Hold Steady, Mortgage Applications Jump, Consumer Price Index Increases

  • June 14, 2019

Mortgage rates have not moved significantly up or down this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting.  Both new purchase and refinance mortgage application submissions surged amidst low mortgage rates.  The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed job openings declined slightly.  The consumer price index increased marginally.

Read Market Recap: Job Openings Hold Steady, Mortgage Applications Jump, Consumer Price Index Increases


How much is too much for your down payment?

  • June 13, 2019

It’s no secret, accumulating a down payment is the biggest obstacle many first-time home buyers face.  Between rising rents, higher home prices, and the pervasive myth that you need to put down at least 20% to buy a home, determining how much you need to save for a down payment varies.  A larger down payment will usually reduce or eliminate the cost of mortgage insurance, and may lower the monthly mortgage payment, but you don’t need to put everything you have saved toward your down payment.  Buying a new home will have costs associated with it like urgent upgrades, home maintenance, and the closing costs on your mortgage. 

Read How much is too much for your down payment?


How Smart Home Tech Can Help Retirees Age In Place

  • June 12, 2019

The thought of smart home devices may conjure the idea of tech-savvy millennials using smart thermostats to regulate temperatures or smart appliances to maximize efficiency.  However, smart home technology can also help older homeowners.  As more and more retirees plan to age in place rather than downsizing or moving into a retirement community, smart home technology is making the transition easier.

Read How Smart Home Tech Can Help Retirees Age In Place


House Members Push for Higher SALT Deduction Cut in Tax Cuts and Jobs Act

  • June 11, 2019

One of the major changes to the 2017 Tax Cuts and Jobs Act (TCJA) may soon be up for debate in Congress.  Representative Mikie Sherrill (D-NJ) recently addressed state and local tax (SALT) deduction limits at a town hall in Bloomfield, NJ.  Under the TCJA, taxpayers, regardless of income, cannot deduct more than $10,000 of total state and local taxes, including property taxes.  This deduction cap disproportionately impacts residents of higher tax areas, like New Jersey, New York, and elsewhere. 

Read House Members Push for Higher SALT Deduction Cut in Tax Cuts and Jobs Act


VA Thought of the Week: The Net-Tangible Benefits Test

  • June 10, 2019

VA has established 8 different possible Net Tangible Benefits (NTB).  All new Type II Cash Out refinance loans must meet at least 1 of the 8 possible NTB options.

Read VA Thought of the Week: The Net-Tangible Benefits Test


Market Recap: Mortgage Rates Continue to Fall, Construction Spending, ADP Employment Report, and More

  • June 07, 2019

Mortgage rates continued to fall this week.  US construction spending was unchanged.  New purchase mortgage applications declined, but refinance applications are up.  The ADP employment report added fewer jobs than expected.

Read Market Recap: Mortgage Rates Continue to Fall, Construction Spending, ADP Employment Report, and More


CMG Financial Welcomes Ted Bishop, Area Sales Manager

  • June 07, 2019

Roswell, NM – CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, CA, announced the hire of Ted Bishop, Area Sales Manager, Roswell, New Mexico.  Ted will work to grow CMG Financial’s Southwestern market share and lead hiring and onboarding efforts throughout the area.

Read CMG Financial Welcomes Ted Bishop, Area Sales Manager


CMG Financial's Joe Cabrall Recognized as 2019 HousingWire Rising Star

  • June 06, 2019

National mortgage media group HousingWire announced its 2019 Rising Stars, an exclusive list of young leaders to watch in the housing industry.  CMG Financial’s VP, Correspondent Operations, Joe Cabrall, was recognized among 50 other industry-leading innovators as a 2019 Rising Star. 

Read CMG Financial's Joe Cabrall Recognized as 2019 HousingWire Rising Star


What’s the right rate to refinance?

  • June 06, 2019

After trending upward throughout 2018, 2019 has seen very little interest rate movement.  In fact, average mortgage rates continue to trend toward year-long lows.  Federal Reserve Chair Jerome Powell announced the Federal Open Market Committee (FOMC) would pause raising interest rates for the rest of the year.  With today’s low rates, many homeowners could benefit from a rate and term refinance, or a refinance that lowers the mortgage rate or shortens the mortgage term.  Making the decision to refinance your mortgage loan could help you lower your monthly mortgage payment, remove mortgage insurance, or even take cash out to fund a renovation project or other expense.  Keep in mind, a mortgage refinance is a new loan origination and with that comes closing costs.  With interest rates at 2019 lows, many homeowners are wondering, is it time to refinance my mortgage loan?

Read What’s the right rate to refinance?


3 Habits That Could Improve Your Credit Score

  • June 05, 2019

Your credit score is influenced by five differently-weighted components including payment history (35%), total amount owed (30%), credit history (15%), credit mix (10%), and new credit (10%).  Banks and lenders use your credit score to determine whether or not you are a good candidate for a loan or a line of credit.  Even if you are not planning to buy or refinance a home this year, it’s good to practice to build positive credit habits to maintain a positive score. Most financial experts recommend taking six months to a year to improve your credit before you apply for a mortgage loan. 

Read 3 Habits That Could Improve Your Credit Score


Market Forecast: JOLTS, Mortgage Apps, and Consumer Price Index

  • June 05, 2019

The only housing report of significance this week will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and the consumer price index.

Read Market Forecast: JOLTS, Mortgage Apps, and Consumer Price Index


FHFA Director Mark Calabria Addresses GSE Reform

  • June 04, 2019

Federal Housing Finance Agency (FHFA) Director Mark Calabria shared his thoughts surrounding the future of Fannie Mae and Freddie Mac at the recent National Association of Realtors (NAR) Regulatory Issues Forum.  Fannie Mae and Freddie Mac became government-sponsored entities (GSE) following the financial crisis and despite returning to profitability years ago, the two remain under government control.  Advocates in favor of releasing Fannie Mae and Freddie Mac from conservatorship believe private ownership will lead to a more competitive mortgage market.  Those who oppose worry we will see a repeat of the financial crisis, especially if the proper precautions are not taken.

Read FHFA Director Mark Calabria Addresses GSE Reform


Market Forecast: Construction Spending, Mortgage Apps, ADP Employment Report

  • June 03, 2019

Mortgage rates are still low and have not moved much in recent weeks.  This week in housing news, the US construction spending report comes out today and the Mortgage Bankers Association (MBA) weekly mortgage application survey comes out on Wednesday.  The ADP employment report is also scheduled for release.

Read Market Forecast: Construction Spending, Mortgage Apps, ADP Employment Report


VA Thought of the Week: What’s new with Type II Cash Out Refinance Loans?

  • June 03, 2019

Type II Cash Out Refinance Loans are very close to the original VA Cash Out refinance loans, but there are a lot of new rules in place to ensure the loan is in the best interest of the Veteran.

Read VA Thought of the Week: What’s new with Type II Cash Out Refinance Loans?


Market Recap: Home Price Appreciation Gainful, but Slower. Pending Home Sales Decline

  • May 31, 2019

Average mortgage rates continued their downward trend this week.  Both the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index indicated that home price appreciation is also slowing down.  Pending home sales are down.

Read Market Recap: Home Price Appreciation Gainful, but Slower. Pending Home Sales Decline


Is there such thing as “Good” and “Bad” debt?

  • May 30, 2019

You may have heard the terms “good debt” and “bad debt” used before.  Certified Money Coach, TED Speaker, and author, Tammy Lally defines “’good’ debt is an investment of money that grows in value or generates long-term income” and “’bad’ debt works against you from the onset.”  Americans take out loans and lines of credit to finance all kinds of purchases from weekly groceries to a new home.  As a consumer, it’s important to understand the differences between these types of debt and how to use credit responsibly to maintain a good credit score and get approved for future loans and lines of credit.

Read Is there such thing as “Good” and “Bad” debt?


How Multi-Generational Living Impacts Home Design

  • May 29, 2019

Today, it’s not uncommon to have multiple generations living in the same home.  Between adult children returning after college and parents living longer, Baby Boomers are often called the “sandwich generation” as they simultaneously care for their children and parents.  In fact, 41% of American home buyers consider the need to accommodate an elderly parent or adult child when they are shopping for a home.  After decades of building detached single-family homes, some home builders are shifting gears toward accommodating multiple generations under one roof.

Read How Multi-Generational Living Impacts Home Design


Are Parents Hurting Homeownership?

  • May 28, 2019

Millennials may have an even harder time shaking the “parents’ basement dwellers” moniker after recent data from an Urban Institute study.  While a large share of recent college graduates move back into their parents’ homes with the intention of saving money in a no-or-low-rent environment, they may actually be hurting their chances at homeownership.    From the study, young adults who live with their parents between the ages of 25 and 34 are significantly less likely to be homeowners ten years later.

Read Are Parents Hurting Homeownership?


Market Forecast: Case-Shiller Home Price Index, FHFA House Price Index, Pending Home Sales Index

  • May 27, 2019

Markets will be closed today, in observance of Memorial Day.  Coming up this week, the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency (FHFA) house price index are scheduled for release on Tuesday.  The National Association of Realtors (NAR) will release its pending home sales index on Thursday. 

Read Market Forecast: Case-Shiller Home Price Index, FHFA House Price Index, Pending Home Sales Index


VA Thought of the Week: What general terms did the VA change with the new Cash Out Refinance regulation?

  • May 27, 2019

Over the coming weeks, we will review a number of issues on VA Cash Out Refinance loans.

First, we will cover the general terms that the VA changed with the new Cash Out Refinance regulation.

Read VA Thought of the Week: What general terms did the VA change with the new Cash Out Refinance regulation?


Market Recap: Existing Home Sales Decline, Mortgage Apps Mixed, New Home Sales Also Fall

  • May 24, 2019

Mortgage rates trended slightly lower this week and continue to hover around year-long lows.  Existing home sales dropped in April.  New purchase mortgage application submissions decreased but refinance application submissions increased.  New home sales are also down.

Read Market Recap: Existing Home Sales Decline, Mortgage Apps Mixed, New Home Sales Also Fall


Retire in place or move somewhere new?

  • May 23, 2019

When we retire, we get the freedom to stay in our current home or move somewhere else.  Both choices come with their own advantages and challenges.  Staying in the same home means your mortgage may already be paid off, you’ll be close to your existing community, and you will not have to deal with the cost and stress of moving.  Moving somewhere new may give you the opportunity to downsize or move into a home that better suits your changing needs, connect with a new community, and gain a new experience.  MarketWatch contributor, Erin Rook, interviewed retirees around the country to find out what factors they considered when choosing to retire in place or move somewhere new. 

Read Retire in place or move somewhere new?


Natural Disasters Highlight Millions of Underinsured Homes

  • May 22, 2019

In 2018, the United States suffered 14 natural disasters spanning coast to coast from wildfires in California to hurricanes in Florida.  The National Oceanic and Atmospheric Administration (NOAA) reports natural disasters cost the United States $91 billion in damage, marking the eighth consecutive year that eight or more natural disasters resulted in billion-dollar level damage.  As climate change continues to warm the atmosphere, natural disasters are only expected to increase in frequency and severity and home insurers are lagging behind.  Rising construction costs lead to costlier repairs that many home insurers are not prepared to cover. 

Read Natural Disasters Highlight Millions of Underinsured Homes


CMG Financial Initiates Atlanta Expansion with Allen Lee, Area Sales Manager

  • May 22, 2019

Atlanta, GA – CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, CA, announced the hire of Allen Lee, Area Sales Manager, Atlanta, GA.  Allen will be based out of the newly licensed Atlanta, GA branch and spearhead business development throughout the Greater Atlanta area. 

Read CMG Financial Initiates Atlanta Expansion with Allen Lee, Area Sales Manager


CMG Financial's Proprietary All In One Loan Live in Texas, Now Available Nationwide

  • May 22, 2019

CMG Financial, a privately-held mortgage banking firm headquartered in San Ramon, CA, announced today its proprietary All In One Loan product is now available in Texas for non-homestead properties. With the addition of Texas, the All In One Loan is currently offered in all fifty states through CMG Financial's retail loan officers, select wholesale mortgage brokers, and correspondent lending partners. Additionally, CMG Financial recently added a 10% down payment option in most states.

Read CMG Financial's Proprietary All In One Loan Live in Texas, Now Available Nationwide


5 Challenges Home Sellers Face in 2019

  • May 21, 2019

No matter what the market is doing, home sellers will face various challenges throughout the process.  Forbes contributor and CEO of Las Vegas Homes by the Brooks Team, Jim Brooks, outlined five specific challenges home sellers will face in 2019. 

Read 5 Challenges Home Sellers Face in 2019


Market Forecast: Existing Home Sales, Mortgage Apps, Jobless Claims

  • May 20, 2019

Mortgage rates continue to trend downward, amidst some uncertainty surrounding global trade tensions.  There are very few economic reports scheduled for release this week.  In housing news, existing home sales and the Mortgage Bankers Association weekly mortgage application survey are scheduled for release.  The weekly jobless claims report comes out on Thursday.

Read Market Forecast: Existing Home Sales, Mortgage Apps, Jobless Claims


VA Thought of the Week: Does the VA Funding Fee cost the Veteran too much?

  • May 20, 2019

Some Veterans may believe the VA Funding fee on a VA loan costs too much, making the FHA and Conventional loans better options.  This is a mortgage myth!

Read VA Thought of the Week: Does the VA Funding Fee cost the Veteran too much?


Market Recap: Mortgage Apps Down, Housing Market Index Positive, Housing Starts and Building Permits Improve

  • May 17, 2019

Mortgage rates continued to follow a downward trend this week.  However, both new purchase and refinance mortgage application submissions declined.  Home builder sentiment improved.  Housing starts and building permits each increased.

Read Market Recap: Mortgage Apps Down, Housing Market Index Positive, Housing Starts and Building Permits Improve


2 Ways to Make Money from Real Estate Investments

  • May 16, 2019

Real estate investment is a common choice for those who are looking to invest in something more stable than the stock market.  While stocks go up and down, most homes tend to steadily appreciate over time, and when there is a change in a housing market it’s typically gradual.  Before you choose to invest in real estate, it’s important to understand how to make money from your real estate investment. 

Read 2 Ways to Make Money from Real Estate Investments


Keep These Phrases OUT of Your Offer Letter

  • May 15, 2019

When you’re buying a home in a competitive market, some home buyers choose to write a personal letter to accompany their offer to make an emotional connection and stand out to the seller.  Buying a home is a personal experience, especially if the seller has lived there for many years.  A personal letter could be the extra push you need to get your offer accepted; it could also sour the deal. 

Read Keep These Phrases OUT of Your Offer Letter


1 in 6 Home Buyers Get Down Payment Assistance from Seller

  • May 14, 2019

It’s no secret that the down payment is the biggest obstacle would-be home buyers face.  Saving for a down payment has become increasingly difficult as home prices rise, rents go up, and student loan debt reaches record highs.  While it may not be surprising that home buyers are using down payment assistance, it may be surprising that some of that assistance is coming from home sellers themselves.

Read 1 in 6 Home Buyers Get Down Payment Assistance from Seller


Market Forecast: Mortgage Apps, NAHB Housing Market Index, Housing Starts and Building Permits

  • May 13, 2019

Mortgage rates have not moved much this week and will likely stay low for the rest of the year, following the Federal Reserve’s decision to pause rate hikes.  This week, the National Association of Home Builders (NAHB) will release its housing market sentiment index.  Housing starts and building permits and the weekly mortgage application survey are also scheduled for release. 

Read Market Forecast: Mortgage Apps, NAHB Housing Market Index, Housing Starts and Building Permits



Market Recap: Job Openings Up, Consumer Credit Slows, Mortgage Apps Rebound

  • May 10, 2019

Mortgage rates have not moved significantly this week, following the Federal Reserve’s decision to leave rates unchanged.  Job openings increased, as the labor market continues to show strength.  Consumer borrowing slowed but was still positive.  Both new purchase and refinance mortgage application submissions turned around after several weeks of declines.  

Read Market Recap: Job Openings Up, Consumer Credit Slows, Mortgage Apps Rebound


How to Save Money on Your Mortgage

  • May 09, 2019

You know you’re going to finance your new home purchase with a mortgage, but where do you start?  There are plenty of ways to save money on your mortgage and it all starts with working with the right mortgage lender. 

Read How to Save Money on Your Mortgage


4 Times to Invest When Buying a Home

  • May 08, 2019

Buying a home is a big financial commitment, and it’s no secret that it gets expensive, between the down payment, closing costs, and other fees.  When you are making this big of a purchase, you will probably be looking for ways to save.  Apartment Therapy contributor, Kate Streit, interviewed real estate experts nationwide to compile this list of the top four things you should never skimp on when buying a home.

Read 4 Times to Invest When Buying a Home


Survey: Home Buyers of All Ages Looking for Lawns

  • May 07, 2019

What do you love most about your home?  A recent survey conducted on behalf of the National Association of Landscape Professionals (NALP) suggests it may be your lawn.  From the survey, 81% of Americans have a lawn or yard and 79% say that a lawn or yard is one of the most important features when buying or renting a home.  A nice sized lawn ranked second behind a kitchen renovation, and the sentiment was shared by all generations.

Read Survey: Home Buyers of All Ages Looking for Lawns


Market Forecast: Job Openings, Consumer Credit, Mortgage Applications

  • May 06, 2019

Last week, the Federal Open Market Committee voted to leave the federal benchmark interest rate unchanged.  Mortgage rates reacted accordingly but did not move significantly.  This week, the only housing-related report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and consumer credit.

Read Market Forecast: Job Openings, Consumer Credit, Mortgage Applications


VA Thought of the Week: Pest Inspections: Who can pay for them?

  • May 06, 2019

Most mortgage and real estate professionals may believe that a Veteran cannot pay for the pest inspection on a home purchase using a VA Guaranteed home loan. However, that’s one of the most misunderstood issues in the industry today! 

Read VA Thought of the Week: Pest Inspections: Who can pay for them?


Market Recap: No Rate Hike, Case-Shiller Home Price Index Appreciates, Pending Home Sales Jump

  • May 03, 2019

The Federal Open Market Committee met on Tuesday and Wednesday of this week and voted to leave the federal benchmark interest rate unchanged.  In turn, mortgage rates did not move significantly.  The S&P CoreLogic Case-Shiller home price index appreciated at the slowest clip since September 2012.  The pending home sales index exceeded expectations. 

Read Market Recap: No Rate Hike, Case-Shiller Home Price Index Appreciates, Pending Home Sales Jump


Your Spring Cleaning Checklist

  • May 02, 2019

When you’re done purging your closets and clearing out the garage or basement, remember the rest of your home!  Spring is the perfect time of the year to tackle some home maintenance tasks you may have put on hold during the busy holiday season or colder winter months.  Your home deserves a facelift too!

Read Your Spring Cleaning Checklist


5 Questions to Ask that Could Save You Money

  • May 01, 2019

Whether you are paying down student debt, saving for the down payment on a home, or trying to achieve another financial goal – sometimes asking a simple question could save you hundreds or thousands of dollars.  CNBC contributor Alicia Adamczyk identified these five questions many Americans have not asked, or did not know they could ask, that can help them save money.

Read 5 Questions to Ask that Could Save You Money


Home Equity Hits Record High – Why Aren’t Homeowners Using it?

  • April 30, 2019

Home equity increases over time as the homeowners makes payments toward their mortgage balance and their home appreciates.  As home values continue to rise, tappable home equity has increased substantially.  In the fourth quarter of 2018, Black Knight reported that American homeowners had a collective $5.7 trillion in tappable equity.  In fact, CoreLogic data showed from 2017 to 2018, the average homeowner gained almost $10,000 in home equity. 

Read Home Equity Hits Record High – Why Aren’t Homeowners Using it?


Market Forecast: Case-Shiller Home Price Index, Pending Home Sales Index, and Federal Open Market Committee Meeting

  • April 29, 2019

Mortgage rates did not move significantly last week, continuing to hover near year-long lows.  This week, the Federal Open Market Committee (FOMC) will meet on Tuesday and Wednesday.  The S&P CoreLogic Case-Shiller home price index and pending home sales index are also scheduled for release. 

Read Market Forecast: Case-Shiller Home Price Index, Pending Home Sales Index, and Federal Open Market Committee Meeting


VA Thought of the Week: What is a VA joint loan?

  • April 29, 2019

 

Did you know that a Veteran can buy a home with a person that is not a Veteran and not their spouse?  It’s called a VA Joint Loan.  

Read VA Thought of the Week: What is a VA joint loan?


Market Recap: Existing Home Sales Down, FHFA House Price Index Increases, New Home Sales Up

  • April 26, 2019

Mortgage rates have not moved significantly up or down this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting.  The FOMC is not likely to raise interest rates during this meeting.  Existing home sales are down but new home sales are up.  Home price appreciation continues to slow. 

Read Market Recap: Existing Home Sales Down, FHFA House Price Index Increases, New Home Sales Up


Analysis of Today’s First-Time Home Buyer

  • April 25, 2019

Despite some obstacles that first-time home buyers face when starting their home search, a recent study from the Federal Reserve Bank of New York suggests the share of first-time home buyers has remained stable over the past 17 years.  On average, first-time home buyers make up a little less than half of total home buyers on the market, 46% in 2016.  To help lenders and other real estate professionals cater to first-time home buyers, the New York Fed released this analysis of today’s first-time home buyer and their specific needs.

Read Analysis of Today’s First-Time Home Buyer


CMG Financial Invests in Veterans and Military Lending Department with New Vice President, Jeff Wilson

  • April 25, 2019

San Ramon, CA – CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, CA, announced the hire of Jeff Wilson, Vice President, Veteran and Military Lending.  Jeff Wilson, a retired US Army Major with 21 years of military service, has nearly three decades of mortgage leadership experience at the Department of Veterans Affairs.  Jeff will work to grow CMG Financial’s VA Loan market share and advocate for responsible VA lending practices.

Read CMG Financial Invests in Veterans and Military Lending Department with New Vice President, Jeff Wilson


CMG Financial Strengthens Texas Leadership with Ken Whisler, Regional Sales Manager

  • April 24, 2019

Frisco, TX – CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, announced today the hire of Ken Whisler, Regional Sales Manager.  Ken has over twenty-five years of financial services experience and has held positions at national and regional lenders throughout Texas and the Southwest.  In his new role, Ken will facilitate growth throughout Texas, onboard new branches, and nurture existing top-producing branches. 

Read CMG Financial Strengthens Texas Leadership with Ken Whisler, Regional Sales Manager


Natural Disasters Have Lasting Impact on Credit Scores

  • April 24, 2019

As natural disasters like hurricanes and wildfires grow more prevalent each year, researchers have compiled the data to show their lasting financial impact.  The Urban Institute identified zip codes where households received financial assistance from the Federal Emergency Management Agency’s Individuals and Households Program to determine the long-term effects natural disasters have on residents’ credit scores and finances.

Read Natural Disasters Have Lasting Impact on Credit Scores


60% of Home Shoppers are Willing to Renovate

  • April 23, 2019

A recently released study from Move.com showed 60% of home shoppers are willing to consider a home renovation project after they purchase their home.  Whether it’s the HGTV effect, or limited homes for sale, more than half of survey respondents are willing to spend in excess of $20,000 on home renovation and 28% are willing to spend between $10,000 and $20,000.  Additionally, 95% of respondents expect a return on their renovation investment.

Read 60% of Home Shoppers are Willing to Renovate


Market Forecast: Existing Home Sales, FHFA House Price Index, New Home Sales

  • April 22, 2019

Mortgage rates trended slightly upward last week but continue to hover around year-long lows.  This week, the existing home sales and new home sales reports are both scheduled for release.  The Federal Housing Finance Agency will also release its home price index.

Read Market Forecast: Existing Home Sales, FHFA House Price Index, New Home Sales


Market Recap: Builder Sentiment Improves, Mortgage Apps Mixed, Housing Starts and Building Permits Decline

  • April 19, 2019

Mortgage rates did not move significantly this week.  Home builder sentiment hit a 6-month high.  New purchase application submissions increased, but refinance application submissions declined.  Housing starts and building permits are down.

Read Market Recap: Builder Sentiment Improves, Mortgage Apps Mixed, Housing Starts and Building Permits Decline


Built for Zero: How 9 Cities Ended Veteran Homelessness

  • April 17, 2019

Earlier this year, the city of Abilene, Texas joined a growing number of communities to end Veteran homelessness.  With the help of a national program called Built for Zero, Abilene city officials were able to leverage community data to track homeless Veterans on a case-by-case basis, identify the causation of their chronic homelessness, and allocate resources effectively. 

Read Built for Zero: How 9 Cities Ended Veteran Homelessness


Market Forecast: NAHB Housing Market Index, Mortgage Apps, and Housing Starts and Building Permits

  • April 15, 2019

Mortgage rates did not move significantly last week, trending slightly upward after this year’s initial decline.  Looking ahead this week, the National Association of Home Builders will release its housing market sentiment index on Monday and housing starts and building permits are scheduled for release on Friday.  Weekly reports include the Mortgage Bankers Association (MBA) mortgage application survey.

Read Market Forecast: NAHB Housing Market Index, Mortgage Apps, and Housing Starts and Building Permits


Market Recap: Fewer Job Openings, Mortgage Apps Mixed, Consumer Price Index Jumps

  • April 12, 2019

Mortgage rates have not moved significantly this week, trending slightly upward according to some sources.  There were fewer job openings in February than in January, as expected.  Mortgage application data was mixed, with refinance applications falling off and new purchase applications up slightly.  The consumer price index increased, due to rising electricity and gasoline costs.

Read Market Recap: Fewer Job Openings, Mortgage Apps Mixed, Consumer Price Index Jumps


How Many Homeowners Would Benefit from a Rate Refinance?

  • April 11, 2019

Mortgage rates are trending downward, following the Federal Open Market Committee’s (FOMC) decision to pause raising rates this year.  As rates fall, more and more homeowners could benefit from a mortgage refinance.  According to a recent report from Black Knight, 4.9 million American homeowners could reduce their mortgage rate by at least 0.75% if they refinance now, a 1.6 million week-over-week increase.

Read How Many Homeowners Would Benefit from a Rate Refinance?


One Mistake Could Cost You Your Down Payment

  • April 10, 2019

MarketWatch contributor Kari Paul recently profiled an unsuspecting Seattle home buyer, who lost his $123,000 to an unfortunate wire fraud scam.  Aaron from Portland received email instructions to wire the down payment funds to someone impersonating a representative from his title insurance company.  He completed the request, and the money was wired to a scammer’s bank account instead of the title company.  Today, the defrauded home buyer is a spokesman for the title company, sharing his story with others as a warning. 

Read One Mistake Could Cost You Your Down Payment


Report: Healthy Housing Market this Spring Home Buying Season

  • April 09, 2019

Spring is in the air – and so are “For Sale” signs.  Traditionally, Spring and Summer are the busiest seasons for home buyers and sellers, thawing out after the slower winter months.  Housing professionals anticipate this Spring to be especially busy, with improved affordability for home buyers.  While 2018 ended with higher mortgage rates and home prices, the early months of 2019 have brought lower mortgage rates plus a slowdown in home price appreciation.  Recent data shows consumer house-buying power has increased 2.3% from December 2018 to January 2019, and the trend is expected to continue.

Read Report: Healthy Housing Market this Spring Home Buying Season


Market Forecast: Job Openings, Mortgage Apps, Consumer Price Index

  • April 08, 2019

Mortgage rates continued to trend lower last week, leading to a surge in refinance mortgage activity.  This week, the only significant housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and the consumer price index.

Read Market Forecast: Job Openings, Mortgage Apps, Consumer Price Index


8 CMG Financial Loan Officers Ranked Among Nation’s Top Originators

  • April 08, 2019

Scotsman Guide, the leading national resource for mortgage originators published monthly with separate residential and commercial editions, released the annual Top Originators 2018 rankings.    

Read 8 CMG Financial Loan Officers Ranked Among Nation’s Top Originators


Market Recap: Construction Spending Up, Mortgage Apps Surge, ADP Employment Adds Fewer Jobs

  • April 05, 2019

Mortgage rates trended downward again this week and will likely stay low throughout the Spring home buying and selling season.  US construction spending picked up in February.  Mortgage application submissions surged, driven by refinance activity.  The ADP employment report added fewer jobs than expected.

Read Market Recap: Construction Spending Up, Mortgage Apps Surge, ADP Employment Adds Fewer Jobs


Average Adjustable-Rate Mortgage Tops $700,000

  • April 04, 2019

Earlier this quarter, the Mortgage Bankers Association (MBA) reported the average size of a fixed-rate mortgage nationwide was $280,900 and the average size of an adjustable-rate mortgage nationwide was $688,400.  A fixed-rate mortgage will retain the same interest rate throughout the term of the loan, whereas an adjustable-rate mortgage will fluctuate based on market conditions and other factors.  Adjustable-rate mortgages typically have a lower introductory interest rate than fixed-rate mortgages of the same size and terms and may be a more affordable option for homeowners who plan to move or refinance the loan after a few years. 

Read Average Adjustable-Rate Mortgage Tops $700,000


Tax Day 2019 Checklist: Did you get all your home-related deductions?

  • April 03, 2019

Tax Day, or the last day for tax payers to file their income taxes, is Monday, April 15th.  If you haven’t filed your taxes yet, it’s time to get started!  Early last year, Congress passed the Tax Cuts and Jobs Act (TCJA), the most sweeping tax reform legislation in decades.  The biggest change was the increase in the standard deduction: $12,200 for individuals, $18,350 for heads of household, and $24,400 for married couples filing jointly.  Since the standard deduction has increased so significantly, homeowners may need to more closely calculate their home expenses to determine whether or not their total sum exceeds the standard deduction. 

Read Tax Day 2019 Checklist: Did you get all your home-related deductions?


Trump Calls to End Conservatorship of Fannie Mae and Freddie Mac

  • April 02, 2019

Last week, President Trump signed a memorandum calling for an “overdue reform of the housing finance system,” including an end to the conservatorship of the Government-Sponsored Enterprises, Fannie Mae and Freddie Mac.  In Wednesday’s White House release, the president expressed a desire to work with Congress to initiate comprehensive housing finance reform and increase competition in the mortgage market. 

Read Trump Calls to End Conservatorship of Fannie Mae and Freddie Mac


Market Forecast: Construction Spending, Mortgage Applications, and ADP Employment Report

  • April 01, 2019

Mortgage rates continue to fall, following the Federal Open Market Committee’s March meeting.  Coming up this week in housing news, the February construction spending report comes out on Monday, followed by the weekly mortgage application survey on Wednesday.  Other market-moving reports include the ADP employment report. 

Read Market Forecast: Construction Spending, Mortgage Applications, and ADP Employment Report


Market Recap: Housing Starts and Building Permits Pull Back, Case-Shiller Home Price Index Slows, New Home Sales Climb

  • March 29, 2019

Mortgage rates continue to slide downward, following the Federal Open Market Committee’s decision to ease back on rate hikes this year.  After an exceptionally strong January, February’s housing starts and building permits declined.  The S&P CoreLogic Case-Shiller home price index posted the slowest annual rate of growth in seven years.  New home sales exceeded expectations. 

Read Market Recap: Housing Starts and Building Permits Pull Back, Case-Shiller Home Price Index Slows, New Home Sales Climb


Flooding in Midwest Could Have Lasting Impact

  • March 27, 2019

Heavy rains and rapid snowmelt following last week’s “bomb cyclone” have caused severe flooding throughout the Midwest including Nebraska, Iowa, Missouri, and others.  The flooding has already impacted over 8 million people in 14 states and could damage farmland from Nebraska to Iowa to Illinois down to Louisiana.  National Weather Service meteorologists predict the flooding could last into the Spring, causing substantial damage to homes throughout the region. 

Read Flooding in Midwest Could Have Lasting Impact


CMG Financial Initiates Southern California Expansion with Jerrold David, Regional Sales Manager

  • March 27, 2019

Los Angeles, CA – CMG Financial, a privately held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced today the hiring of Jerrold David, Regional Sales Manager.  Jerrold will oversee CMG Financial’s expansion into Southern California, leveraging his abundant real estate relationships to grow market share and establish new partnerships.

Read CMG Financial Initiates Southern California Expansion with Jerrold David, Regional Sales Manager


Home Renovation Spending to Exceed $450 Billion

  • March 26, 2019

According to a new report from Harvard’s Joint Center for Housing Studies, Improving America’s Housing 2019, home renovation and remodeling increased 6.5% from 2016 to 2017, and more than 50% since the Recession ended.  In fact, remodeling spending accounted for 2.2% of total national economic activity in 2017.  Homeowners staying in their homes longer combined with aging housing stock and appreciating home values has led to a surge in renovation and remodeling spending, and it’s only expected to keep growing.

Read Home Renovation Spending to Exceed $450 Billion


Market Forecast: Housing Starts and Building Permits, Case-Shiller Home Price Index, and New Home Sales

  • March 25, 2019

The Federal Open Market Committee voted to leave the benchmark interest rate unchanged last week and signaled a pause on raising rates for the rest of the year.  Mortgage rates reacted by trending downward, following Federal Reserve Chair Jerome Powell’s statement.  After government shutdown-related delays, February’s housing starts and building permits and new home sales reports are all scheduled for release.  The S&P CoreLogic Case-Shiller home price index will come out on Tuesday.

Read Market Forecast: Housing Starts and Building Permits, Case-Shiller Home Price Index, and New Home Sales


Market Recap: No Rate Hike, Home Builder Sentiment Unchanged, Existing Home Sales Jump

  • March 22, 2019

The Federal Open Market Committee (FOMC) met Tuesday and Wednesday and voted to leave the federal benchmark interest rate unchanged. In turn, mortgage rates plunged following the news, hovering around year-long lows.  The National Association of Home Builders’ (NAHB) housing market index was unchanged in March.  Existing home sales surged to the highest level in almost a year. 

Read Market Recap: No Rate Hike, Home Builder Sentiment Unchanged, Existing Home Sales Jump


CMG Financial Launches Lock N Shop Rate Protection Program for Savvy Home Shoppers

  • March 21, 2019

San Ramon, CA – CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, CA, has launched a Lock N Shop rate protection program for home shoppers to lock rate offers for 60 or 90 days, while they shop for a property.  The Lock N Shop rate protection program will give home shoppers the power to secure their mortgage rate even if rates fluctuate while they are still shopping for a home.  CMG Financial is committed to creating a better mortgage experience by giving home buyers the freedom to shop around in today’s busy housing market.

Read CMG Financial Launches Lock N Shop Rate Protection Program for Savvy Home Shoppers


Fire-Resistant Construction Could be Coming Soon

  • March 20, 2019

Approximately 14,000 homes were destroyed in two of California’s worst wildfires in 2018, equating to $19 billion in damage to residential and commercial real estate.  After a year of dangerous wildfires, home builders are experimenting with more fire-resistant construction techniques.  While a fully fireproof home might not be possible at this time, investing in more fire-resistant construction could prevent future damage. 

Read Fire-Resistant Construction Could be Coming Soon


Market Forecast: Mortgage Apps, Construction Spending, New Home Sales

  • March 18, 2019

Mortgage rates have not moved drastically this month, even trending downward according to some sources.  This week in housing news, US construction spending and new home sales data are finally catching up, following report release delays due to the partial government shutdown.  The Mortgage Bankers Association (MBA) weekly mortgage application survey is also scheduled for release.

Read Market Forecast: Mortgage Apps, Construction Spending, New Home Sales


Market Recap: Mortgage Apps Up, Construction Spending Increases, New Home Sales Dip

  • March 14, 2019

Mortgage rates continued their downward trend this week.  Mortgage applications reacted, with new purchase application submissions increasing and refinance application submissions down only slightly.  US construction spending is up.  New home sales are down.

Read Market Recap: Mortgage Apps Up, Construction Spending Increases, New Home Sales Dip


The Next Big Housing Trend May Be Small

  • March 14, 2019

Recent data shows the next most popular single-family home may be a townhouse.  National Association of Home Builders (NAHB) chief economist Robert Dietz noted that over the past year, “the single-family attached market is up 24%.  It’s growing eight times as fast as the overall single-family market.”  Rising home prices, limited land ability, and an influx of first-time home buyers are some of the major reasons townhouses are becoming more popular.

Read The Next Big Housing Trend May Be Small


Caution: Home Inspection Myths You Might Believe

  • March 13, 2019

The home inspection is one of the most important steps in the home buying process.  You may think you have found the perfect home, but a home inspection could reveal costly and even dangerous problems that you could face down the road.  When you are buying a home, it’s important to understand what a home inspection actually is, what a home inspector does, and what a home inspector does not do.  Realtor.com identified some of the most common myths first time home buyers and even some repeat home buyers believe.

Read Caution: Home Inspection Myths You Might Believe


Market Forecast: Housing Market Index, Existing Home Sales, and FOMC Meeting

  • March 13, 2019

Mortgage rates have trended downward this month, amid notes from the minutes from the last Federal Open Market Committee (FOMC) meeting in January.  This week, the FOMC will meet on Tuesday and Wednesday, but is not expected to raise the Federal benchmark interest rate.  In housing news, the housing market index comes out on Monday and existing home sales will be released on Friday.

Read Market Forecast: Housing Market Index, Existing Home Sales, and FOMC Meeting


Market Recap: Construction Spending Down, New Home Sales Up, ADP Employment Report Up

  • March 08, 2019

Mortgage rates have not moved significantly this week, trending downward according to some sources.  Construction spending declined in December, after posting strong numbers in December.  New home sales surged to a seven-month high.  The ADP employment report was positive. 

Read Market Recap: Construction Spending Down, New Home Sales Up, ADP Employment Report Up


Zillow vs. Redfin: Who has the Most Accurate Estimate?

  • March 07, 2019

Real estate websites like Zillow and Redfin are a great resource for home buyers or homeowners looking to get an idea of the value of a home they are interested in buying or refinancing.  Like any free tools, Zillow and Redfin’s valuation estimate tools are not 100% reliable.  Homeowners upgrade homes over time, some neighborhoods have homes with comparable attributes, while other homes are more spread out and very different from their nearest neighbors.  Understanding that free real estate resources will not be perfect every time, who has the most accurate estimate tool: Zillow or Redfin?

Read Zillow vs. Redfin: Who has the Most Accurate Estimate?


Alert: Most Americans Unprepared to Cover Cost of Emergencies

  • March 06, 2019

Despite an increasing frequency in weather-related natural disasters ranging from wildfires in California to hurricanes in the Southeast, many Americans are financially unprepared to cover the cost of emergencies.  Personal finance website GoBankingRates.com, compiled a list of the average cost of eight emergencies based on data from the Census Bureau, FEMA, HomeAdvisor, Insurance.com, and other reputable sources.  The calculations reveal that emergencies are more expensive than Americans anticipate, and many Americans are woefully underprepared.

Read Alert: Most Americans Unprepared to Cover Cost of Emergencies


HUD Secretary Ben Carson Announces Decision to Leave Position After First Term

  • March 05, 2019

US Department of Housing and Urban Development (HUD) Secretary Ben Carson announced he plans to leave his position after President Trump’s first term.  During a Monday evening interview on Newsmax TV, Secretary Carson stated, “I will certainly finish out the term.  I would be interested in returning to the private sector because I think you have just as much influence, maybe more, there.”

Read HUD Secretary Ben Carson Announces Decision to Leave Position After First Term


Market Forecast: Construction Spending, New Home Sales, and the ADP Employment Report

  • March 04, 2019

Mortgage rates have not moved significantly this month and continue to hover around year-long lows.  Economic indicators are finally catching up, after many reports including the new home sales report and US construction spending were delayed by the partial government shutdown.  This week, December’s US construction spending report comes out on Monday, followed by December’s new home sales report on Tuesday.  In labor market news, the ADP employment report is scheduled for release on Wednesday.

Read Market Forecast: Construction Spending, New Home Sales, and the ADP Employment Report


Market Recap: Housing Starts and Building Permits Mixed, Case-Shiller Home Price Index Appreciates, and Pending Home Sales Go Up

  • March 01, 2019

Some economic indicators continue to be delayed by the partial government shutdown earlier this year.  In the housing sector, January’s new home sales report originally scheduled for Tuesday and January’s US construction spending originally scheduled for Friday, were both delayed.  Of the reports released, housing starts declined and building permits inched up, home price appreciation continues to slow down, and pending home sales increased.

Read Market Recap: Housing Starts and Building Permits Mixed, Case-Shiller Home Price Index Appreciates, and Pending Home Sales Go Up


CMG Financial Invests in Southern California Leadership with Walt Nally, Area Sales Manager

  • February 28, 2019

Los Angeles, CA – CMG Financial, a privately held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced today the hiring of Southern California sales leader Walt Nally to serve as Area Sales Manager.  In anticipation of a busy spring home buying season, Walt Nally will be instrumental in business development and growing market share throughout Southern California.

Read CMG Financial Invests in Southern California Leadership with Walt Nally, Area Sales Manager


How Net-Zero Energy Homes Work

  • February 27, 2019

Six years ago, home builder De Young Properties built a single-family home that was a net-zero energy building.  Net-zero energy refers to a building that has the potential to produce as much energy as it would consume over the course of a year.  Today, there are approximately 5,000 net-zero energy single-family homes throughout the country.  With new building mandates in California, there could be as many as 100,000 by the end of 2020. 

Read How Net-Zero Energy Homes Work


Market Forecast: Housing Starts and Building Permits, Case-Shiller Home Price Index, and Pending Home Sales

  • February 25, 2019

Average mortgage rates trended downward last week, reaching 12-month lows in some cases.  After getting delayed due to the partial government shutdown, the December housing starts and building permits report will come out this week.  Other important upcoming housing reports include the S&P CoreLogic Case-Shiller home price index and the National Association of Realtors (NAR) pending home sales index.  The new home sales report, originally scheduled for release on Tuesday of this week, will be delayed.

Read Market Forecast: Housing Starts and Building Permits, Case-Shiller Home Price Index, and Pending Home Sales


Market Recap: Builder Optimism Improves, Housing Starts and Building Permits Delayed, Existing Home Sales Decline

  • February 22, 2019

Mortgage rates trended slightly downward this week.  Home builders are feeling optimistic to start out the year, as rates start to level off and economic conditions remain favorable.  The release of the housing starts and building permits report was delayed, due to the lasting effects of the partial government shutdown.  Existing home sales fell.

Read Market Recap: Builder Optimism Improves, Housing Starts and Building Permits Delayed, Existing Home Sales Decline


Red Flags the IRS will be Watching

  • February 20, 2019

Tax season is upon us and American taxpayers are in the process of filing for returns, receiving refunds, and paying taxes due.  A harmless mistake or deliberate misinformation may lead to your tax return being audited.  The Internal Revenue Service (IRS) chooses taxpayers to audit based on anomalies that are detected in comparison to similar returns.  A taxpayer may also be audited if a relative or business partner is being audited.  The IRS audits returns up to three years old.  If inaccuracies come up, the taxpayer may have to pay a fee, up to $5,000 in some cases.  In other cases, the taxpayer may face criminal charges like tax evasion or tax fraud.

Read Red Flags the IRS will be Watching


CMG Financial Invests in Central Division Expansion with Chris Blevins, Divisional Sales Manager

  • February 20, 2019

Houston, TX — After strengthening coverage across the East Coast, CMG Financial, a privately held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has set its sights on continuing to grow its Central Division with the hire of Chris Blevins, Divisional Sales Manager.  Chris is a proven sales leader with over twenty-five years of mortgage management experience.  In his new role, Chris will provide leadership to CMG’s existing branches, as well as source and onboard new branches to grow market share across the central part of the country.

Read CMG Financial Invests in Central Division Expansion with Chris Blevins, Divisional Sales Manager


How Millennials are Transforming Real Estate

  • February 19, 2019

After years of sitting on the sidelines, Millennials are getting into the housing market, in full force.  The National Association of Realtors (NAR) reported in the 2018 Home Buyer and Seller Generational Trends Study, Millennials made up the largest share of home buyers compared to any other generation for the fifth consecutive year.  Millennials are facing a far different housing market than previous generations and thus are changing the way the game is played in several different ways.

Read How Millennials are Transforming Real Estate


Market Forecast: Housing Market Index, Housing Starts and Building Permits, Existing Home Sales

  • February 18, 2019

Markets are closed today in observance of the Presidents Day holiday.  It’s a busy week ahead for housing news with the home builders sentiment index, housing starts and building permits, and existing home sales all scheduled for release. 

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, Existing Home Sales


Market Recap: More Job Openings, Mortgage Apps Decline, Consumer Price Index Unchanged

  • February 15, 2019

The job market continues to fire on all cylinders, with the Labor Department reporting an increase in job openings, up to 7.53 million in December.  New purchase mortgage application submissions fell and refinance application submissions were almost unchanged.  The consumer price index increased year-over-year but was unchanged month-over-month as inflation cools.

Read Market Recap: More Job Openings, Mortgage Apps Decline, Consumer Price Index Unchanged


American Incomes Hit Highest Levels Since 2010

  • February 12, 2019

After years of stagnant wage growth, many Americans are starting to see a bump in their paychecks.  In December 2018, the Fannie Mae Home Purchase Sentiment Index found that 24% of Americans reported their incomes were higher than one year ago, the highest jump since June 2010. 

Read American Incomes Hit Highest Levels Since 2010


CMG Financial Strengthens Southwest Leadership Team with Susan Walker, Regional Vice President Retail – Southwest

  • February 11, 2019

Scottsdale, AZ – CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, CA, announced today the hire of Susan Walker, Regional Vice President, Retail – Southwest.  Susan is a demonstrated mortgage industry leader and has held regional management positions throughout the country for over three decades, concentrating the last seven years on Southern California, Arizona, and the greater Southwestern United States.  In her new role, Susan will oversee the onboarding of new branches and lead business development throughout this critical region.

Read CMG Financial Strengthens Southwest Leadership Team with Susan Walker, Regional Vice President Retail – Southwest


CMG Financial Grows Pacific Leadership with Sherry Allen, Regional Vice President of Northern California and Hawaii

  • February 11, 2019

Roseville, CA – CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, CA, announced today the hire of Sherry Allen, Regional Vice President of Northern California and Hawaii.  Sherry has almost thirty years of mortgage banking experience and a diverse background of working at national and regional leading lenders around the country.  In her new role, Sherry will uphold CMG’s legacy in Northern California and chart new paths for growth. 

Read CMG Financial Grows Pacific Leadership with Sherry Allen, Regional Vice President of Northern California and Hawaii


Market Forecast: Job Openings, Mortgage Apps, and the Consumer Price Index

  • February 11, 2019

Mortgage rates trended slightly downward last week, following the Federal Reserve’s decision to slow down on interest rate hikes at the end of January.  The only significant housing report this week will be the weekly mortgage application survey.  Other market moving reports include job openings and the consumer price index.

Read Market Forecast: Job Openings, Mortgage Apps, and the Consumer Price Index


Market Recap: Refinance Applications Up, Jobless Claims Down, Consumer Credit Expands

  • February 08, 2019

Mortgage rates trended downward this week, following Federal Reserve Chair Jerome Powell’s comments after the Federal Open Market Committee meeting at the end of January.  Refinance mortgage application submissions inched upward, but new purchase application submissions are down.  Jobless claims dropped from the previous week.  Total outstanding consumer credit exceeded $4 trillion for the first time.

Read Market Recap: Refinance Applications Up, Jobless Claims Down, Consumer Credit Expands


3 Outdated Financial Tips You Might Still Believe

  • February 06, 2019

As the economy changes, the way we buy and sell homes changes as well.  What made sense for your parents, or even yourself, twenty or thirty years ago may not be relevant to today’s economic conditions.  We reviewed three common real estate misconceptions that might be preventing you from making real estate moves.

Read 3 Outdated Financial Tips You Might Still Believe


Builders Cutting Prices to Stay Competitive

  • February 05, 2019

With the Spring buying and selling season on the horizon, predictions are already rolling in.  2018 marked an overall slowdown for housing, after several years of rampant activity.  However, Zillow Research found that some home builders are starting to lower prices on newly constructed homes, to stay competitive in their markets.  The study found that 25.1% of newly constructed homes experienced a price drop in Q4 of 2018, up from 19.2% in Q1 of 2018.  Home shoppers looking to buy a new home in 2019 may be able to get a deal, depending on where they are shopping.

Read Builders Cutting Prices to Stay Competitive


Market Forecast: Mortgage Apps, Jobless Claims, and Consumer Credit

  • February 04, 2019

Last week, the Federal Open Market Committee announced it would be slowing down on gradual interest rate hikes over the course of the next year.  Mortgage rates reacted by trending slightly downward.  This week, the only significant housing report will be the weekly mortgage application survey, scheduled for release on Wednesday.  Other market-moving reports coming up include the weekly jobless claims report and consumer credit.

Read Market Forecast: Mortgage Apps, Jobless Claims, and Consumer Credit


Market Recap: Home Price Index Mixed, Pending Home Sales Down, No Rate Hike

  • February 01, 2019

Mortgage rates trended slightly downward this week, following the Federal Open Market Committee’s (FOMC) announcement to slow down on interest rate hikes this year.  Federal Reserve Chair Jerome Powell asserts the decision to stop hiking rates has nothing to do with the strong US economy, rather a global economic slowdown taking place in Europe and China.  The S&P CoreLogic Case-Shiller home price index showed that home price appreciation has slowed, giving some buyers a much-needed break.  The pending home sales index declined. 

Read Market Recap: Home Price Index Mixed, Pending Home Sales Down, No Rate Hike


Reasons to Refinance, Even When Rates Rise

  • January 31, 2019

The Federal Open Market Committee (FOMC) voted to leave the federal benchmark interest rate this week, but further gradual rate hikes may be on the horizon.  When the Fed raises rates, the cost of borrowing money will start to rise, including the cost of mortgage financing.  Although rising rates may discourage some homeowners from refinancing, there are still many reasons to refinance, even when rates rise.

Read Reasons to Refinance, Even When Rates Rise


8 Changes Impacting Your 2018 Tax Return

  • January 30, 2019

Despite the recent government shutdown, the Internal Revenue Service (IRS) announced the official tax season opened Monday, January 28th.  This year will be the first year tax payers’ returns are impacted by the Tax Cuts and Jobs Act (TCJA).  When you file your 2018 return, expect it to be influenced by some or all of these 8 changes.

Read 8 Changes Impacting Your 2018 Tax Return


Why Mortgage Points are Getting Popular Again

  • January 29, 2019

Mortgage points or discount points are fees paid to the lender at closing to buy down the interest rate.  One point is equal to 1% of the total loan amount.  As mortgage rates gradually rise, the practice of buying mortgage points may start to become popular.  Whether or not points will benefit you financially depends on how long you plan on staying in your home, and your loan. 

Read Why Mortgage Points are Getting Popular Again


Market Forecast: Case-Shiller Home Price Index, Pending Home Sales, FOMC Meeting

  • January 28, 2019

The US partial government shutdown ended last Friday, as the White House and Congress reached a three week spending agreement while they continue to hash out a border security deal.  The shutdown had delayed the release of some economic indicators over the past five weeks.  This week, the S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the pending home sales index comes out on Wednesday.  The Federal Open Market Committee will also meet this week but is not expected to raise the benchmark interest rate.

Read Market Forecast: Case-Shiller Home Price Index, Pending Home Sales, FOMC Meeting


Market Recap: Existing Home Sales Down, Home Prices Up, New Home Sales Delayed

  • January 25, 2019

The partial US government shutdown continues, delaying the release of some economic indicators, including this week’s new home sales report.  Existing home sales declined, as expected, following a slow winter season.  Home prices appreciated more than expected. 

Read Market Recap: Existing Home Sales Down, Home Prices Up, New Home Sales Delayed


Why Rental Data Matters – Especially for Home Buyers

  • January 24, 2019

For many, buying their first home is the end of renting.  When you are shopping for a new home, especially if you are a repeat buyer, keeping an eye on the rental market may not seem relevant to you.  However, data suggests that rental prices tend to increase or decrease more rapidly than sales prices and can be a better indicator of the overall health of a housing market.

Read Why Rental Data Matters – Especially for Home Buyers


CFPB Reverses Course: Seeks Compliance Authority on Military Lending

  • January 23, 2019

During his tenure as Acting Director of the Consumer Financial Protection Bureau (CFPB), Director of the Office of Management and Budget, Mick Mulvaney, made the decision to stop supervising lending to active duty service members.  Instead, Mulvaney ordered the CFPB to wait for complaints from service members and their families to instigate investigations.  The recently confirmed CFPB Director, Kathy Kraninger, sent a letter to congress last week asking for “clear authority” to supervise for compliance with the Military Lending Act.

Read CFPB Reverses Course: Seeks Compliance Authority on Military Lending


Single Female Homeowners Outnumber Single Male Homeowners

  • January 22, 2019

According to a new LendingTree study, single women are outpacing single men in becoming homeowners.  Single women own 22% of homes nationwide, compared to just 13% owned by single men.  Out of the 50 largest metropolitan areas across the country, single women own an average of 70,000 more homes than single men do.  With most women earning an average of only 80% of their male counterparts, the new homeownership data may be surprising to some.  Despite the fact that many young homeowners are delaying milestones like marriage and children, they are still taking advantage of the wealth-building opportunity of home purchase. 

Read Single Female Homeowners Outnumber Single Male Homeowners


Market Forecast: Existing Home Sales, FHFA House Price Index, and New Home Sales

  • January 21, 2019

Markets are closed today in observance of Dr. Martin Luther King Jr. Day.  The US government remains in a state of partial shutdown, delaying the release of some economic indicators, including the new home sales report.  The existing home sales report is scheduled to come out on Tuesday and the Federal Housing Finance Agency (FHFA) house price index is scheduled for Wednesday. 

Read Market Forecast: Existing Home Sales, FHFA House Price Index, and New Home Sales


Market Recap: Mortgage Apps Up, Builder Sentiment Improves, Housing Starts and Building Permits Delayed

  • January 18, 2019

As of Friday, 1/18/19, the US government remains partially shutdown.  Due to the government shutdown, the release of the housing starts and building permits reports have been delayed.  Mortgage application submissions increased across the board and builder sentiment has improved.

Read Market Recap: Mortgage Apps Up, Builder Sentiment Improves, Housing Starts and Building Permits Delayed


Getting to Know a New Neighborhood

  • January 17, 2019

When you are buying a new home, you may get so excited about the experience you forget about the neighborhood.  Although it may seem obvious to some, real estate professionals warn new home buyers, “you can change the house, but you can’t change the location.”  If you are shopping for a new home in 2019, don’t forget to look around the neighborhood before getting emotionally invested in a property.  Here are six red flags Realtor.com contributor Jaime Wiebe advises prospective home buyers to watch for. 

Read Getting to Know a New Neighborhood


Can you get a mortgage with a credit freeze?

  • January 16, 2019

With cybersecurity of the utmost concern, all major credit reporting bureaus – Equifax, Experian, and TransUnion – offer free credit freezes for consumers who believe they are at risk.  A credit freeze prevents lenders from accessing your credit report, with the intention of stopping a thief from opening fraudulent lines of credit with your personal information.   While a credit freeze can protect you in the case of a stolen identity or other stolen personal information, it will also prevent legitimate lenders, like your mortgage lender, from accessing your credit report to complete a mortgage application for a new home purchase or mortgage refinance.

Read Can you get a mortgage with a credit freeze?


CMG Financial Introduces Make It Possible Grant for a Limited Time

  • January 14, 2019

San Ramon, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced today it will offer a $1,500 grant toward nonrecurring closing costs for all home buyers whose combined household income is less than 80% of the Area Median Income.  The Make It Possible Grant is available with conventional conforming mortgage loans with down payment options as low as 3%. The Make it Possible Grant can be combined with other CMG Financial grants like the HomeFundIt grant, also valued up to $1,500.  The Make It Possible Grant will be available on qualifying loans funded by April 30th, 2019. 

Read CMG Financial Introduces Make It Possible Grant for a Limited Time


Market Forecast: Mortgage Applications, Housing Market Index, Housing Starts and Building Permits

  • January 14, 2019

As the partial government shutdown enters its fourth week, Congress and President Trump have yet to reach an agreement over a budget dispute regarding border security and the possible construction of a border wall along the United States – Mexican border.  Due to the government shutdown, the release of the housing starts and building permits report may be delayed.  Other housing-related reports scheduled for this week include the Mortgage Bankers Association (MBA) weekly mortgage application survey and the National Association of Home Builders’ (NAHB) housing market sentiment index.

Read Market Forecast: Mortgage Applications, Housing Market Index, Housing Starts and Building Permits


Market Recap: Job Openings Decline, Consumer Credit Up, Mortgage Apps Rebound

  • January 11, 2019

The US government is still in a state of partial shutdown, delaying the release of some economic indicators.  Mortgage rates have recently trended downward, resulting in a spike in mortgage application submissions.  The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) showed the number of job openings have declined.  Consumer credit expanded to a total outstanding debt of $3.98 trillion. 

Read Market Recap: Job Openings Decline, Consumer Credit Up, Mortgage Apps Rebound


7 Tips for Buying a Home This Year

  • January 10, 2019

Whether you are buying your first home, moving up, or downsizing, buying a home should be an exciting experience.  The best way to reduce stress is to have the support of the right real estate team.  Internet media company, Buzzfeed, surveyed its community of Realtors and real estate agents to compile this list of the top 7 tips your agent wants you to know before you start searching for a new home. 

Read 7 Tips for Buying a Home This Year


What’s the rush? Why paying off this debt might actually HURT your credit score.

  • January 09, 2019

If you are like 44 million Americans nationwide, you probably owe a share of the national $1.5 trillion student loan debt.  In 2016, the average graduating student owed $37,172 in student loan debt.  For most Americans, student loan debt is the first time they will take out a loan or line of credit, and the first step toward building credit.  If you are eager to pay off your student loan debt early, you may want to wait.  Closing a student loan account may actually hurt your credit score, because it will shorten the length of your credit history. 

Read What’s the rush? Why paying off this debt might actually HURT your credit score.


Report: Average Apartment Size Shrinking

  • January 08, 2019

Do you feel like apartments are getting smaller and smaller?  Unfortunately, you may actually be right.  A recent study by RentCafe confirms average apartment sizes are getting smaller, and more expensive, in many major metros around the country.  According to the study, the top five cities with the smallest apartments nationwide (ranging from 737 square feet to just 711 square feet on average) are Seattle, WA, Manhattan, NY, Chicago, IL, Washington, DC, and San Francisco, CA.

Read Report: Average Apartment Size Shrinking


CMG Financial Expands New England Coverage with High-Profile Leadership Hire

  • January 08, 2019

Portsmouth, NH — After aggressively growing its Midwestern and Southeastern coverage over the past two years, CMG Financial, a privately held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has initiated an expansion into New England, that will include 12 new branches and 109 new employees across Massachusetts, New Hampshire, Maine, and elsewhere. Leading expansion efforts is Mark McCauley, Regional Sales Manager, New England. Mark has over thirty years of mortgage banking experience and has served the greater New England area in distinguished leadership positions for the past two decades. 

Read CMG Financial Expands New England Coverage with High-Profile Leadership Hire


Market Forecast: Job Openings, Consumer Credit, Mortgage Apps

  • January 07, 2019

The only significant housing report scheduled for release this week is the weekly mortgage application survey.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and consumer credit.

Read Market Forecast: Job Openings, Consumer Credit, Mortgage Apps


Market Recap: Mortgage Apps Down, ADP Employment Up, Construction Spending Delayed

  • January 04, 2019

The US government is still in a state of partial shutdown, delaying some of this week’s economic indicators like US construction spending.  Of the reports released, the Mortgage Bankers Association (MBA) weekly mortgage application survey declined, and the ADP employment report exceeded expectations.

Read Market Recap: Mortgage Apps Down, ADP Employment Up, Construction Spending Delayed


A Better Market for Buyers in 2019

  • January 03, 2019

2018’s year-end data showed housing activity has started to slow.  With both existing home and new home sales falling, there are finally less buyers competing on the crowded market.  After six years of sustained price gains, home price appreciation started to slow this year, dipping below 6% for the first time in six years.  Managing director and chairman of the index committee at S&P Dow Jones Indices, David Blitzer, predicted, “throughout next year, prices will continue to rise on a national basis in most cities around the country, but the pace of increase will continue to slow.”  This trend could be welcome news for home buyers, especially first-time home buyers. 

Read A Better Market for Buyers in 2019


Don’t Make this Home Renovation Mistake

  • January 02, 2019

In the spirit of new beginnings, you may be considering a home remodel or renovation this year.  A home renovation is a great option to add resale value to your home or adapt the layout or design to fit your current lifestyle.  If you are planning a home renovation, don’t make this big mistake.  In 2017, 1 in 3 homeowners paid for some or all of their renovation project with a credit card.  With homeowners spending a median of $10,000 on renovation projects, this is a dangerous debt to take on.

Read Don’t Make this Home Renovation Mistake


Real Estate Predictions for 2019

  • January 01, 2019

As we ring in the new year, the predictions are in for 2019.  After several years of a red-hot housing market, activity is expected to slow, and that’s good news for home buyers.  Expect home price gains to slow and less competition.  Here’s what the top economists and forecasters from across the industry expect to see next year.

Read Real Estate Predictions for 2019


Market Forecast: ADP Employment, Mortgage Applications, Construction Spending

  • December 31, 2018

The US government is still partially shutdown, due to a spending dispute regarding a proposed $5 billion border wall.  This week, markets will be closed on Tuesday in observance of New Year’s Day.  The Mortgage Bankers Association (MBA) will release its mortgage application survey on Thursday, after last week’s hiatus.  The ADP employment report and US construction spending are also scheduled to come out on Thursday. 

Read Market Forecast: ADP Employment, Mortgage Applications, Construction Spending


Market Recap: Government Shutdown Delays New Home Sales Report

  • December 28, 2018

Mortgage rates did not move significantly this week, trending slightly downward.  Markets were closed on Tuesday in observance of the Christmas holiday.  The US government has been partially shutdown since Thursday 12/20, following a budgetary dispute in Congress.  The S&P CoreLogic Case-Shiller home price index was released on Tuesday, as planned.  New home sales were delayed due to the partial government shutdown. 

Read Market Recap: Government Shutdown Delays New Home Sales Report


Federal Government Shutdown: What you need to know

  • December 27, 2018

As the partial government shutdown continues, the overall effect on loan programs has been minimal. Each federal and government sponsored entity within the mortgage industry has been affected differently. Here is the breakdown of the effect on loan programs and processes in the coming days.

Read Federal Government Shutdown: What you need to know


Should you make an extra mortgage payment?

  • December 27, 2018

If you are a homeowner wondering how to responsibly spend a holiday bonus or upcoming tax return, consider paying it into your home.  When your budget allows, making an extra payment toward your mortgage can be beneficial.  You can reduce interest costs and lower your overall debt.  Making extra payments is not the right move for every financial situation, so consult a mortgage professional or financial advisor before making a decision.

Read Should you make an extra mortgage payment?


How the New Tax Law Impacts Your Vacation Home

  • December 26, 2018

As the year comes to an end, taxpayers are starting to review how the new tax law will impact their 2018 tax returns. The Tax Cuts and Jobs Act (TCJA) implemented early last year, was the most sweeping tax reform passed in decades and impacted everything from corporate taxes to the size of tax deduction. However, for those who own vacation homes or rental properties, the tax law will remain largely the same.

Read How the New Tax Law Impacts Your Vacation Home


Airbnb Enters Home Building Business

  • December 25, 2018

Airbnb, the popular service for home sharing and short-term vacation rentals announced its plan to enter the home building business and start building homes designed for sharing.  The new project, called Samara: Backyard, will be headed by Airbnb cofounder Joe Gebbia and begin building in 2019.  The goal of Samara is to prototype a new way for homes to be “designed, built, and shared” that better caters to Airbnb’s service.

Read Airbnb Enters Home Building Business


Market Forecast: Case-Shiller Home Price Index, New Home Sales, and Pending Home Sales

  • December 24, 2018

Markets will be closed tomorrow in observance of the Christmas Holiday.  Last week, the Federal Open Market Committee voted to raise the Federal benchmark interest rate, as expected.  This week will bring some closing housing numbers heading into the end of the year.  The S&P CoreLogic Case-Shiller home price index will come out on Wednesday, followed by new home sales on Thursday, and the pending home sales index on Friday. 

Read Market Forecast: Case-Shiller Home Price Index, New Home Sales, and Pending Home Sales


Market Recap: Housing Market Index Down, Housing Starts and Building Permits Up, Existing Home Sales Rise

  • December 21, 2018

In a highly anticipated move, the Federal Open Market Committee (FOMC) voted to raise the Federal benchmark interest rate on Wednesday, to a range of 2.25% to 2.5%.  Mortgage rates are expected to move upward to reflect the rate hike.  The National Association of Home Builders’ (NAHB) housing market sentiment index declined in December.  Both housing starts and building permits increased.  Existing home sales also increased.

Read Market Recap: Housing Market Index Down, Housing Starts and Building Permits Up, Existing Home Sales Rise


Federal Open Market Committee Raises Hikes Rates, Lowers 2019 Projections

  • December 20, 2018

Yesterday, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate 25 basis points to a level of 2.25 % to 2.5%.  The final rate hike of the year brings 2018’s total up to four rate hikes, one more than projected in the Federal Reserve’s December 2017 statement.  The highly anticipated move is reflective of strong job growth and solid consumer spending.  Business investment, however, has started to moderate.  At this time, the Fed predicts two additional rate hikes in 2019.

Read Federal Open Market Committee Raises Hikes Rates, Lowers 2019 Projections


How Builders Can Plan Ahead for Deconstruction

  • December 19, 2018

In 2012, the United States had 7.4 million abandoned homes, a historical high.  When homeowners vacate their homes, commercial abandonment follows, leading to blighted neighborhoods and eventually cities.  To prevent the level of regional blight that followed the Financial Crisis, urban planners and construction researchers are thinking ahead.  Through the study of “domicology,” the lifecycle of the built environment, builders are building structures that once deconstructed can be repurposed or recycled. 

Read How Builders Can Plan Ahead for Deconstruction


Trend: Millennials Buying First Homes in Cities Over Suburbs

  • December 18, 2018

As Millennials segue into homeownership, housing professionals are studying whether or not their preference for city living will continue.  While Millennials have tended to rent near city centers early in their careers, some forecasters suspect once marriage and children come into the pictures, they will migrate to suburbs to purchase homes.  However, recent data from the Journal of Planning Education and Research shows Millennials are 21% more likely to buy their first home in an urban area compared to Generation X counterparts.

Read Trend: Millennials Buying First Homes in Cities Over Suburbs


CMG Financial Welcomes Mortgage Industry Leader Joel Cambern, Regional Sales Manager

  • December 18, 2018

Seattle, WA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced the addition of Joel Cambern, Regional Sales Manager, to its Pacific Northwest leadership team.  Joel is an established sales partner and has spent the last three decades serving throughout the country in mortgage leadership roles with a focus on the Pacific Northwest.  At CMG Financial, Joel will be instrumental in overseeing growth and development throughout this critical region.

Read CMG Financial Welcomes Mortgage Industry Leader Joel Cambern, Regional Sales Manager


Market Forecast: Housing Market Index, Housing Starts and Building Permits, Existing Home Sales

  • December 17, 2018

It will be a full week of housing news, heading into the end of the year.  The Federal Open Market Committee (FOMC) will have its final semiannual monetary policy meeting of the year on Tuesday and Wednesday, with a press conference scheduled for Wednesday afternoon.  Although the stock market has experienced some volatility in recent weeks, the Fed is still expected to raise interest rates following this meeting.  The National Association of Home Builders’ (NAHB) housing market sentiment index is scheduled to come out on Monday, followed by housing starts and building permits on Tuesday, and existing home sales on Wednesday.

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, Existing Home Sales


Market Recap: More Job Openings, Mortgage Apps Up Again, Retail Sales Increase

  • December 14, 2018

Mortgage rates did not move significantly this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting.  This week’s only significant housing report, the Mortgage Bankers Association (MBA) weekly mortgage application survey, was positive with both new purchase and refinance mortgage application submissions increasing.  Job openings are up and retail sales data signals the holiday spending season has started.  

Read Market Recap: More Job Openings, Mortgage Apps Up Again, Retail Sales Increase


How Home Builders Building Smaller Could Help Home Buyers

  • December 13, 2018

The phrase “inventory crunch” has become common in today’s housing market, with more and more buyers competing over a limited number of homes for sale.  Some of the causes of the inventory crunch are homeowners choosing to stay in their homes longer and home builders building larger.  Baby Boomers opting to age in place are choosing to renovate or adapt their current homes rather than downsize or migrate, while home builders facing affordability issues with the rising cost of construction materials are choosing to build larger homes to increase their profit margin.  However, with more first-time home buyers in the market for smaller homes, builders may need to build smaller to keep up with buyer demand.

Read How Home Builders Building Smaller Could Help Home Buyers


VA Increases Loan Limits in 2019

  • December 13, 2018

The US Department of Veterans Affairs (VA) has announced an increase in VA Loan limits for all loans closed on or after January 1, 2019.  The VA reviews loan limits every year and adjusts according to market conditions and housing affordability. 

Read VA Increases Loan Limits in 2019


How to Protect Yourself and Your Home Following a Fire

  • December 12, 2018

Most California homeowners have insurance to protect themselves and their homes against fire damage.  Following a massive blaze, like the recent destructive fires across Northern and Southern California, insurers may be looking to minimize payouts.  Joshua Heffner, a Los Angeles lawyer specializing in fire-related claims, explained, “in a mass loss, they’re looking at their overall payments.  They’ll do what they can to keep payments down.  And they’re getting very smart about paying less.”

Read How to Protect Yourself and Your Home Following a Fire


Kathy Kraninger Confirmed as Next CFPB Director

  • December 11, 2018

Last Thursday, the Senate voted along party lines to confirm Kathy Kraninger as the next director of the Consumer Financial Protection Bureau.  Following Richard Cordray’s resignation last year, Mick Mulvaney, the director of the Office of Management and Budget, has served as interim director for the CFPB.  Now, a little over a year later, Kathy Kraninger will take over the role. 

Read Kathy Kraninger Confirmed as Next CFPB Director


Couple Trades Traditional Wedding Registry for Down Payment Fundraising Platform, HomeFundIt

  • December 11, 2018

Recently engaged Minneapolis couple Conner and Ashley were working full time, coaching after school, attending grad school, and wedding planning, simultaneously. With winter approaching, they were on a timeline to find the right home closer to work to reduce the length of their commute. After hearing about their home search, Conner’s father suggested that they use HomeFundIt in lieu of a traditional wedding registry.

Read Couple Trades Traditional Wedding Registry for Down Payment Fundraising Platform, HomeFundIt


Market Forecast: Job Openings, Mortgage Apps, Retail Sales

  • December 10, 2018

Mortgage rates have trended slightly downward this month, heading into the slower home buying and selling season.  The only significant housing report of the week will be the Mortgage Bankers Association (MBA) weekly mortgage application survey.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) and retail sales.

Read Market Forecast: Job Openings, Mortgage Apps, Retail Sales


Market Recap: Construction Spending Down, Mortgage Apps Up, ADP Employment

  • December 07, 2018

Mortgage rates have trended slightly downward, and mortgage activity has reacted.  Both new purchase and refinance mortgage application submissions increased.  US construction spending is down month-over-month, but up year-over-year.  The ADP employment report was strong.

Read Market Recap: Construction Spending Down, Mortgage Apps Up, ADP Employment


Besides FHA, What Other Low Down Payment Options Do Home Buyers Have?

  • December 06, 2018

Last month, the Federal Housing Administration (FHA) Commissioner Brian Montgomery announced that despite economic momentum, the FHA would not be cutting mortgage insurance premiums this year.  FHA Loans require an upfront mortgage insurance premium (MIP) payment, plus mortgage insurance throughout the life of the loan.  Any reduction to Mortgage Insurance Premiums makes FHA Loans more affordable.  FHA Loans are popular amongst first-time home buyers because of their low down payment requirements. 

Read Besides FHA, What Other Low Down Payment Options Do Home Buyers Have?


Can you afford to buy a home? How much to spend on housing.

  • December 05, 2018

For most Americans, both renters and homeowners, housing is their largest expense.  But how much is too much to spend on housing costs?  Whether you rent or own, financial commentator and co-founder of AE Wealth Management, David Bach recommends, not spending more than 35% of your annual after-tax income on housing costs.

 

Read Can you afford to buy a home? How much to spend on housing.


Mortgage Debt Reaches 10-Year High, FHFA Raises Conforming Loan Limits

  • December 04, 2018

The Federal Reserve announced outstanding mortgage debt totaled $10.2 trillion in the second quarter of 2018, up 2.7% from the previous year, and near the all-time high of $10.7 trillion set over a decade ago.  Although some may be wary of rising mortgage debt, when the economy strengthens and the population increases, total debt tends to rise.  Rather than worrying about the debt, economists urge consumers to look at both sides of the ledger, debt and assets.

Read Mortgage Debt Reaches 10-Year High, FHFA Raises Conforming Loan Limits


Market Forecast: Construction Spending, Mortgage Applications, ADP Employment Report

  • December 03, 2018

Heading into the end of the year, mortgage rates have levelled out after rising following September’s interest rate hike.  This week in housing news, US construction spending comes out on Monday and the Mortgage Bankers Association weekly mortgage application survey comes out on Wednesday.  Other market-moving reports include the ADP employment report.

Read Market Forecast: Construction Spending, Mortgage Applications, ADP Employment Report


Market Recap: Case-Shiller Home Price Index Slows, New Home Sales and Pending Home Sales Decline

  • November 30, 2018

Mortgage rates did not move significantly this week.  Recent comments from Federal Reserve Chair Jerome Powell suggest that the Fed may be slowing down rate hikes, as interest rates reach a neutral range.  Both new home sales and pending home sales declined in October, heading into the slower buying and selling season.  The S&P CoreLogic Case-Shiller home price index has also started to slow, giving buyers a break from home price appreciation. 

Read Market Recap: Case-Shiller Home Price Index Slows, New Home Sales and Pending Home Sales Decline


3 Common Renovation Mistakes to Avoid

  • November 29, 2018

Existing home sales make up the majority of real estate transaction, especially for Millennials and first-time home buyers.  The National Association of Realtors (NAR) reported 9 out of 10 Millennials bought a property that was previously owned.  The 2018 Chase housing sentiment survey showed almost 70% of those home buyers expected to spend at least $20,000 on renovation projects.  

Read 3 Common Renovation Mistakes to Avoid


Community First Focus Helps Rehabilitate Homeless

  • November 28, 2018

The “housing first” model of addressing homelessness emphasizes the importance of stable housing before other issues like chronic unemployment and substance abuse are addressed.  Real estate developer Alan Graham has taken the “housing first” approach a step further with the Community First! Village – a mix of RVs and micro-homes that shelters and employs formerly homeless people 10 miles northeast of downtown Austin, TX.  Community First! Village has been so successful, that last month a 24-acre expansion began, which will include 110 RV sites, 200 more micro-homes, and a 20,000 square foot health facility.

Read Community First Focus Helps Rehabilitate Homeless


When a "Bargain" Really is a Bargain

  • November 27, 2018

Finding a home listing described as a “bargain” could be good news for savvy shoppers.  However, the description could also be misleading, depending on where you are located.  Real estate website Trulia reviewed listings from around the country to determine when a “bargain” really is a bargain.

Read When a "Bargain" Really is a Bargain


FHFA Increases Fannie Mae and Freddie Mac Conforming Loan Limits for Third Time

  • November 27, 2018

For the third time in three years, the Federal Housing Finance Agency (FHFA) has increased the conforming loan limits securitized by Fannie Mae and Freddie Mac.  After ten years of not increasing the maximum conforming loan limits on Fannie Mae and Freddie Mac mortgages, the FHFA has increased loan limits for three years in a row. 

Read FHFA Increases Fannie Mae and Freddie Mac Conforming Loan Limits for Third Time


CMG Financial Promotes Jason Paluscsak to Area Sales Manager, Expands South Carolina Coverage

  • November 26, 2018

Mt. Pleasant, SC – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced the promotion of Jason Paluscsak from Branch Manager to Area Sales Manager.  In the past two years at CMG Financial, South Carolina has achieved unprecedented growth under Jason’s guidance.  He will continue to lend his leadership talents to further development initiatives.

Read CMG Financial Promotes Jason Paluscsak to Area Sales Manager, Expands South Carolina Coverage


Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales

  • November 26, 2018

There was not much movement from mortgage rates last week, markets were closed on Thursday in observance of Thanksgiving and some markets were closed or closed early the following Friday.  This week closes out November with several important housing reports including the S&P CoreLogic Case-Shiller home price index, new home sales, and the pending home sales index.

Read Market Forecast: Case-Shiller Home Price Index, New Home Sales, Pending Home Sales


Market Recap: Home Builder Confidence Slides, Housing Starts Improve, Existing Home Sales Increase

  • November 23, 2018

Mortgage rates did not move significantly up or down this week.  Markets were closed yesterday in observance of the Thanksgiving holiday, and some banks are closed or closing early today.  Home builder sentiment fell in November and builders lowered their expectations for the new year.  Housing starts increased but building permits declined.  Existing home sales exceeded expectations.

Read Market Recap: Home Builder Confidence Slides, Housing Starts Improve, Existing Home Sales Increase


5 Fireplace Facts to Know this Fall

  • November 22, 2018

Getting cozy by the fire after Thanksgiving dinner?  According to Zillow, fireplaces are one of the most sought-after home features.  In addition to heating your home and enhancing your décor, a fireplace may actually add value to your home.  Before you fire up this holiday season, here are the answers to the top five fireplace questions:

Read 5 Fireplace Facts to Know this Fall


Transit Agencies Improve Impact on Homeless Population

  • November 21, 2018

As many of us give thanks this week for our loving families and happy homes, it’s important to remember those who are more vulnerable and experiencing hardships like homelessness.  Partnerships like “Hub of Hope” between Philadelphia’s SEPTA transit system and Project HOME, a social service agency, strive to reach homeless transit passengers and intervene with assistance to help them overcome their crises. 

Read Transit Agencies Improve Impact on Homeless Population


The Predictions Are In: Home Sales to Rise in 2019

  • November 20, 2018

The National Association of Realtors (NAR) predicts home sales will increase in 2019, while home price appreciation starts to slow.  Following 2017, the best year for home sales in over a decade, existing home sales are expected to close out 2018 down a slight 1.5% to a seasonally adjusted annual rate of 5.345 million transactions.

Read The Predictions Are In: Home Sales to Rise in 2019


Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales

  • November 19, 2018

This week will be a short week, with markets closed on Thursday and closing early on Friday, in observance of the Thanksgiving holiday.  However, there is a full week of housing news ahead with the National Association of Home Builders’ housing market sentiment index, housing starts and building permits, and existing home sales all scheduled for release.

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales


Market Recap: Mortgage Apps Slide, Consumer Price Index and Retail Sales Surge

  • November 16, 2018

Mortgage rates continued to hold steady last week and did not move significantly up or down.  Both new purchase and refinance mortgage application submissions declined.  The consumer price index had the biggest increase in nine months and retail sales exceeded expectations.  Federal Reserve Chair Jerome Powell gave a speech to the Dallas Fed on Wednesday and shared his optimistic economic outlook heading into 2019.

Read Market Recap: Mortgage Apps Slide, Consumer Price Index and Retail Sales Surge


CMG Financial Welcomes Chuck Johnson, Area Sales Manager

  • November 16, 2018

Chicago, IL – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has expanded its Midwestern presence with the addition of Chuck Johnson, Area Sales Manager.  Chuck is an established mortgage leader with nearly three decades of experience serving the greater Chicago market. 

Read CMG Financial Welcomes Chuck Johnson, Area Sales Manager


HomeFundIt: Not Your Parents’ Wedding Registry

  • November 15, 2018

Congratulations, you’re getting married!  As soon as you’ve staged the perfect engagement photos and built your wedding website you’re probably inundated with the “Where are you registered?” question.  What are you going to register for?  When’s the last time you got up early enough to make waffles?  Do you really need another blender?  Do you think you’re going to use that pizza stone before just ordering online?  Chances are you don’t really need all of the stuff people traditionally use their wedding registry for. 

Read HomeFundIt: Not Your Parents’ Wedding Registry


Child Identity Theft is On the Rise

  • November 14, 2018

You know you need to protect your social security number, but did you know your children may be at risk too?  Credit-reporting bureau Experian announced more than $1 million children have their identities stolen each year and warned one in four children will be a victim of identity theft before adulthood.  Child identity theft can be especially detrimental to your children’s credit scores, because often it is not noticed or reported until much later, when they go to open their first bank account or apply for student loans. 

Read Child Identity Theft is On the Rise


As Boomers Age in Place, What Happens to Housing?

  • November 13, 2018

Less than a decade ago, housing professionals were expecting the “great senior selloff” when Baby Boomers, born between 1946 and 1964, started downsizing and selling their larger family homes.  However, a new report from Harvard’s Joint Center for Housing Studies forecasts a growth in remodeling projects as more Baby Boomers choose to age in place.  According to the study, out of the 80% of Baby Boomers who own homes, two-thirds of them expect to stay in their homes and make modifications to accommodate them as they age.  Rather than a glut of housing for sale, today’s buyers are instead facing a tight market.

Read As Boomers Age in Place, What Happens to Housing?


Market Forecast: Mortgage Apps, Consumer Price Index, and Retail Sales

  • November 12, 2018

Some markets are closed today in observance of Veterans Day, which was yesterday.  This week, the only significant housing news to report will be the Mortgage Bankers Association weekly mortgage application survey.  Other market moving reports include the consumer price index and retail sales. 

Read Market Forecast: Mortgage Apps, Consumer Price Index, and Retail Sales


Market Recap: Federal Reserve Holds on Hiking Rates, Job Openings, Mortgage Apps

  • November 09, 2018

This year’s Midterm Elections boasted record turnouts, breaking the record set in 1966.  No significant mortgage rate movement this week, as the Federal Open Market Committee voted to leave the benchmark interest rate unchanged.  Job openings slipped slightly but continue to outnumber unemployment reports.  Mortgage application submissions declined.

Read Market Recap: Federal Reserve Holds on Hiking Rates, Job Openings, Mortgage Apps


Saving for a Down Payment Might Take up to 7 Years or More

  • November 08, 2018

According to a new Zillow report, it will take an average American approximately seven years to save for a 20% down payment on an average-priced home.  This report assumes the worker earns the median income and saves 10% of their total earnings each month.  This seven-year saving period is the longest since early 2008.

Read Saving for a Down Payment Might Take up to 7 Years or More


Soccer in the Streets Converts Unused Public Space into a Place to Play

  • November 07, 2018

Public transit, like Atlanta’s MARTA stations, tend to take up a lot of land, leaving vacant expanses.  In the late 70s, Atlanta’s public transit operator installed an amphitheater at the Five Points station with the hope of revitalizing the neighborhood and making the entertainment center accessible through public transit.  However, the amphitheater failed to draw crowds and sat largely unused for decades.  Today the space has been converted into a soccer field, the first of its kind to sit inside of a transit station, and the first of a network of fields sprouting up throughout Atlanta.

Read Soccer in the Streets Converts Unused Public Space into a Place to Play


How the Rust Belt is Attracting Millennial Home Buyers

  • November 06, 2018

Midwestern states including Ohio, Michigan, and Wisconsin, sometimes known as the Rust Belt, are experiencing a revival. After the decline of manufacturing bases like Detroit, this region suffered economically.  As coastal home prices increase, and more companies and businesses are choosing to migrate to the Midwest and Great Lakes regions for lower taxes and affordable housing more, causing more Millennials are to put down roots in the Rust Belt.

Read How the Rust Belt is Attracting Millennial Home Buyers


Market Forecast: Job Openings, Mortgage Applications, and FOMC Meeting

  • November 05, 2018

Election Day is tomorrow, don’t forget to exercise your right to vote in the 2018 Midterm Elections!  Election results sometimes influence economic markets, so rates may experience some volatility this week.  The Federal Open Market Committee (FOMC) meets Wednesday and Thursday and will release a statement Thursday afternoon.  It will be a slow week for housing news, the only directly-related housing report will be the Mortgage Bankers Association (MBA) weekly mortgage application survey on Wednesday.  Other market-moving reports include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) on Tuesday.   

Read Market Forecast: Job Openings, Mortgage Applications, and FOMC Meeting


Market Recap: Case-Shiller Home Price Index Slows, ADP Employment Strong, Construction Spending Flat

  • November 02, 2018

The US economy looks like it’s heading toward a strong finish for 2018.  The ADP employment report was stronger than expected and construction spending was unchanged overall, but residential spending improved.  The S&P CoreLogic Case-Shiller home price index appreciated, but price appreciation has started to slow. 

Read Market Recap: Case-Shiller Home Price Index Slows, ADP Employment Strong, Construction Spending Flat


Should you get a 15-Year or a 30-Year Mortgage?

  • November 01, 2018

Mortgage loans are available with a variety of terms and interest rates to suit every financial situation.  Mortgage terms can range anywhere from 5, 7, 10, 15, and 30 years and usually have either a fixed interest rate or an adjustable interest rate.  The 30-year fixed-rate mortgage tends to be the most common type of mortgage loan, a stalwart for home buyers since the 1930s and 1940s.  However, in some cases the 15-year fixed-rate mortgage might be the better option. 

Read Should you get a 15-Year or a 30-Year Mortgage?


New FICO Scoring System Could Boost Millions of Credit Scores

  • October 31, 2018

The FICO credit score is the most widely accepted credit score used by banks and lenders to determine a borrower’s ability to repay a loan or line of credit.  The FICO credit score is influenced by five factors: payment history (35%), total amount owed (30%), length of credit history (15%), credit mix (10%), and new credit (10%).  Early next year, FICO plans to adjust their scoring system to include how consumers manage the cash in their checking, savings, and money market accounts, the most significant change to the scoring system since the early 1990s. 

Read New FICO Scoring System Could Boost Millions of Credit Scores


CMG Financial Introduces 3-2-1 Buydown Loan to Increase Access to Affordable Mortgage Financing Solutions

  • October 31, 2018

San Ramon, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced its new 3-2-1 Buydown Loan that allows consumers to secure a lower interest rate and lower the monthly mortgage payment during their first three years of homeownership. The home buyer earns these lower payments through a “buydown fee” that can be paid by an interested third party like a home builder, seller, or Realtor, or by the home buyer. 

Read CMG Financial Introduces 3-2-1 Buydown Loan to Increase Access to Affordable Mortgage Financing Solutions


Could College Towns Be the Next Best Place to Retire?

  • October 30, 2018

Before flocking to Florida, Arizona, or another retirement hotbed, retiring Americans could consider relocating to college towns.  College towns could be the next best place to retire because they are known for affordable housing, walkability, arts, cultural, and sporting activities, plus accessible healthcare services.  The Balance evaluated college towns around the country to compile the top 10 for retirees. 

Read Could College Towns Be the Next Best Place to Retire?


Market Forecast: Case-Shiller Home Price Index, ADP Employment Report, and Construction Spending

  • October 29, 2018

Heading into the end of the month, there are a couple more housing reports scheduled for this week.  The S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the US construction spending report comes out on Thursday.  In other market-moving news, the ADP employment report is scheduled for release on Wednesday. 

Read Market Forecast: Case-Shiller Home Price Index, ADP Employment Report, and Construction Spending


Market Recap: FHFA House Price Index Up, New Home Sales Down, Pending Home Sales Index Improves

  • October 26, 2018

Mortgage rates did not move significantly this week.  The Federal Housing Finance Agency (FHFA) released its house price index and indicated home price appreciation has started to slow.  New home sales declined, but the pending home sales index recovered. 

Read Market Recap: FHFA House Price Index Up, New Home Sales Down, Pending Home Sales Index Improves


How many houses should buyers see in a day?

  • October 25, 2018

With words like “competitive” and “inventory crunch” in the news lately, home buyers may be feeling the pressure to look at as many listings as they can.  The National Association of Realtors (NAR) reported it takes an average of 10 weeks for home buyers to find the right home, down from the average of 12 weeks five years ago.  While it’s always a good idea to keep your options open, real estate agents caution against viewing too many homes in one day.  Overdoing it with home tours may cause you to forget details about specific houses and mix properties up. 

Read How many houses should buyers see in a day?


Denver Experiments with Accessory Dwelling Units

  • October 24, 2018

Denver is one of the most heated housing markets in the nation, consistently leading the Case-Shiller home price index with double digit rates of annual appreciation.  In 2016, over 1,000 families were reportedly moving to Denver every month.  Such a sustained influx of residents has put a crunch on available housing inventory.  As a result, the West Denver Renaissance Collaborative has proposed a new plan that creates more places to live without building more homes.  Through the initiative, homeowners become landlords by renting out detached units on their property known as accessory dwelling units (ADUs) or sometimes “granny flats.” 

Read Denver Experiments with Accessory Dwelling Units


Generation Z Home Buyers Entering the Market with Help from Family

  • October 23, 2018

With so much focus on Millennial home buyers, the next incoming generation of buyers has been slightly overlooked.  According to Zillow, 3% of last year’s home buyers were born after 1995, meaning over 100,000 homeowners across the country are 23 and younger.  “I’m a little surprised to see the numbers as large as they are,” commented Rob Dietz, chief economist and senior vice president for economics and housing policy for the National Association of Home Builders (NAHB). 

Read Generation Z Home Buyers Entering the Market with Help from Family


Market Forecast: FHFA House Price Index, New Home Sales, and Pending Home Sales Index

  • October 22, 2018

Average mortgage rates have started to plateau, after climbing earlier this month.  Although rates have started to trend upward, they are still near the lowest levels in the past decade.  This week, the Federal Housing Finance Agency (FHFA) will release its house price index and the National Association of Realtors (NAR) will release the new home sales report and the pending home sales index. 

Read Market Forecast: FHFA House Price Index, New Home Sales, and Pending Home Sales Index


Market Recap: Builder Confidence Improves, Housing Starts Fall, Existing Home Sales Decline

  • October 19, 2018

Mortgage rates held steady this week with no significant movement to report.  The National Association of Home Builders’ (NAHB) housing market sentiment index improved, with builders optimistic about solid buyer demand.  Housing starts fell and building permits slipped slightly.  Existing home sales declined. 

Read Market Recap: Builder Confidence Improves, Housing Starts Fall, Existing Home Sales Decline


How to Be a Landlord When You Retire

  • October 18, 2018

Many Americans choose to downsize their home when they retire.  Larger homes tend to require more maintenance.  Aging Americans may have difficulty with the ongoing upkeep of a large home, especially when they face health changes.  Some retirees also choose to relocate, either to a warmer climate or to be closer to family.  A new trend is emerging among retirees who choose to downsize in retirement, converting their former home into rental properties.  According to a MarketWatch survey of 6,000 landlords, nearly 10% were of retirement age.

Read How to Be a Landlord When You Retire


Mortgage Fraud Risk Up 12% Since Last Year

  • October 17, 2018

In a recent report, CoreLogic found mortgage fraud risk increased 12% since last year.  Based on the data, one out of every 109 mortgage applications had indications of fraud ranging from undisclosed real estate liabilities to questionable down payment sources to income falsification. 

Read Mortgage Fraud Risk Up 12% Since Last Year


What Judge Kavanaugh Confirmation Means for the Future of the CFPB

  • October 16, 2018

Earlier this month, the Senate voted to confirm Judge Kavanaugh to the Supreme Court, solidifying a conservative tilt.  The latest balance shift has many in Washington revisiting the question of what will happen to the Consumer Financial Protection Bureau’s (CFPB) leadership structure. Previously, Kavanaugh has written that he believes the way the CFPB is currently structured is unconstitutional.   He also authored the Court of Appeals decision in the PHH Corp. vs CFPB case that declared the CFPB leadership structure unconstitutional in 2016. 

Read What Judge Kavanaugh Confirmation Means for the Future of the CFPB


Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales

  • October 15, 2018

There is a busy week of housing news ahead, with important data scheduled for release including the National Association of Home Builders’ (NAHB) housing market sentiment index, housing starts and building permits and existing home sales.  Builder sentiment was positive last month, unchanged from the previous month.  Housing starts jumped, but building permits tapered off.  Existing home sales were also unchanged. 

Read Market Forecast: Housing Market Index, Housing Starts and Building Permits, and Existing Home Sales


Market Recap: Mortgage Applications Down, Unemployment Hits All-Time Low, Consumer Price Index Increases

  • October 12, 2018

Some markets were closed on Monday in observance of Columbus Day, thus it was a slow week for housing news.  The only housing-related report was the weekly mortgage application survey.  Other market-moving reports included the weekly jobless claims report and the consumer price index.

Read Market Recap: Mortgage Applications Down, Unemployment Hits All-Time Low, Consumer Price Index Increases


Lowering Your Debt-to-Income Ratio

  • October 11, 2018

Debt-to-income ratio or DTI is one of the key components of your financial profile lenders review when evaluating whether or not you are a good candidate for mortgage financing.  DTI thresholds vary depending on the lender and the type of mortgage loan.  Generally, the lower your DTI the better, so lowering your DTI by paying down long-term debts and limiting credit card use is a good idea before you apply for mortgage financing. 

Read Lowering Your Debt-to-Income Ratio


Simple Street Change Saves Pedestrian Lives

  • October 10, 2018

Pedestrian traffic deaths reached a 25-year high last year.  According to the Governors Highway Safety Association almost 6,000 pedestrians were killed in 2017.  The US Department of Transportation (DOT) is working to reverse this figure with a simple street redesign currently popping up at intersections in New York City, San Francisco, and Los Angeles.  By adding rubber bumpers to intersections, drivers who are turning left are forced to slow down, and even lessen the sharpness of their turn, reducing the risk of vehicle-pedestrian Collison. 

Read Simple Street Change Saves Pedestrian Lives


CMG Financial Invests in Joint Venture Expansion with Strategic Leadership Hire

  • October 09, 2018

DALLAS--(BUSINESS WIRE)--CMG Financial, a privately held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, today announced the hire of Chris Harris, Vice President, National Joint Venture Manager. Chris is an accomplished executive sales leader with over 16 years of experience developing corporate partnerships, managing joint ventures and leveraging relationships to gain valuable market share.

Read CMG Financial Invests in Joint Venture Expansion with Strategic Leadership Hire


Average FICO Credit Scores Climb Again

  • October 09, 2018

Nearly ten years into economic recovery, the average American FICO score climbed again, hitting a record high of 704.  2018 marks the eighth year of credit score increases, since the average FICO score hit an all time low of 686 in the wake of the Great Recession.  All age brackets saw their average FICO score increase, led by Baby Boomers and Generation Xers.

Read Average FICO Credit Scores Climb Again


Market Forecast: Mortgage Apps, Jobless Claims, and Consumer Price Index

  • October 08, 2018

Some markets are closed today in observance of the Columbus Day holiday.  Mortgage rates have started to trend upward in reaction to last month’s Federal Reserve rate hike.  Mortgage applications reacted to the news, with new purchase application submissions increasing and refinance application submissions declining last week.  Other market-moving reports scheduled for release this week include the weekly jobless claims report and the consumer price index.

Read Market Forecast: Mortgage Apps, Jobless Claims, and Consumer Price Index


Market Recap: Construction Spending Up, Mortgage Apps Mixed, ADP Employment Gains

  • October 05, 2018

Mortgage rates were little changed this week, following last week’s Federal Open Market Committee (FOMC) rate hike.  US construction spending improved slightly.  Residential construction spending was down month-over-month but up year-over-year.  Mortgage application submissions showed little week-over-week change.  The ADP employment report exceeded expectations.

Read Market Recap: Construction Spending Up, Mortgage Apps Mixed, ADP Employment Gains


What does your home insurance cover?

  • October 04, 2018

Earlier this month, Hurricane Florence caused an estimated $20 to $30 billion of damage to commercial and residential properties throughout North and South Carolina.  Unfortunately, an estimated 85% of residential property losses were uninsured, and less than 10% of properties in North Carolina had flood insurance.

Read What does your home insurance cover?


Update: Credit Freeze Now Free in All States

  • October 03, 2018

In the wake of last year’s Equifax data breach, a new federal law will allow consumers to freeze and unfreeze their credit for free with all major credit bureaus.  Previously, credit freezes and unfreezes cost consumers anywhere between $3 and $12 each.  A credit freeze prevents lenders from pulling a credit report, thus preventing criminals from taking out new lines of credit with a stolen identity. 

Read Update: Credit Freeze Now Free in All States


Why Millennials Are Making This Huge Money Mistake

  • October 02, 2018

An alarming trend is emerging among young Millennial workers around the country.  According to a recent survey from ETrade, over a third of Millennials are making withdrawals from their 401(k) plans or retirement accounts.  They are using the money for everything from paying down debts, making large purchases, and going on vacations.  401(k) and other retirement plans compound interest overtime, thus increasing in value.  When young workers withdraw from retirement accounts prematurely they are losing the interest they could have gained. 

Read Why Millennials Are Making This Huge Money Mistake


Market Forecast: Construction Spending, Mortgage Apps, and the ADP Employment Report

  • October 01, 2018

Last week, the Federal Open Market Committee voted to raise the benchmark interest rates, and mortgage rates reacted accordingly.  This week in housing news, US construction spending report comes out on Monday and the weekly mortgage application survey comes out on Wednesday.  The ADP employment report comes out on Wednesday.

Read Market Forecast: Construction Spending, Mortgage Apps, and the ADP Employment Report


Market Recap: Fed Raises Rates, New Home Sales Spike, Home Prices Appreciation Slows

  • September 28, 2018

This week, the Federal Open Market Committee (FOMC) voted to raise the federal benchmark interest rate for the third time this year.  Federal Reserve Chair Jerome Powell cited a strong labor market and continued economic expansion as reasons for the rate hike.  In housing news, new home sales jumped, and home price appreciation slowed.

Read Market Recap: Fed Raises Rates, New Home Sales Spike, Home Prices Appreciation Slows


What Happens to Your Mortgage if Your Home is Hit with a Natural Disaster

  • September 27, 2018

In the wake of last week’s hurricane and with an especially active hurricane season expected, disaster preparedness is more important than ever.  When hurricanes, forest fires, earthquakes, and other natural disasters damage your home or impact your ability to pay your mortgage you have several options.  Before disaster strikes, review these ways to stay safe, physically and financially.

Read What Happens to Your Mortgage if Your Home is Hit with a Natural Disaster


Improving Shared Spaces Starts with Keeping Sidewalks Clean

  • September 26, 2018

Many metros across the country from the Bay Area to our nation’s capital have experienced a recent influx of new sidewalk clutter in the form of dockless electric scooters.  Bird, Lime, and other startups have “dropped” e-scooters in urban areas to relieve busy public transportation and give pedestrians a new, more efficient way to commute.  Curbed correspondent, Sarah Goodyear, describes the dropping of these scooters to the way an unruly teenager drops laundry around the house.  The new trend of “docklessness” revives the question as old as cities themselves, “who owns the sidewalk and who is responsible for keeping it clean?”

Read Improving Shared Spaces Starts with Keeping Sidewalks Clean


CMG Financial Welcomes New Regional Sales Manager Alex Nordby

  • September 25, 2018

Sacramento, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has strengthened its central California leadership team with the addition of Regional Sales Manager, Alex Nordby.  Alex has over a decade of financial services experience and established professional relationships throughout the central California region.

Read CMG Financial Welcomes New Regional Sales Manager Alex Nordby


Rushing to Pay Off Your Mortgage? Why New Tax Laws Might Make You Want to Wait.

  • September 25, 2018

The Tax Cuts and Jobs Act (TCJA) enacted earlier this year provided the most sweeping changes to the tax code in decades.  One of the most relevant changes for homeowners was the new cap for mortgage interest deductions.  With tax cuts increasing wages, the savings rate improving, and the economy booming, some homeowners may consider paying off their mortgage sooner, especially with the changes to the mortgage interest tax deduction.  MarketWatch columnist, Peter Morici, suggests, “The new tax law should cause many folks to consider paying off their mortgages but that is hardly best for everyone.”

Read Rushing to Pay Off Your Mortgage? Why New Tax Laws Might Make You Want to Wait.


Market Forecast: FOMC Meeting, Case-Shiller Home Price Index, and New Home Sales

  • September 24, 2018

The Federal Open Market Committee will meet this Tuesday and Wednesday and markets are pricing in a rate hike.  Sustained economic growth, a healthy labor market, and strong consumer spending have all pushed the inflation rate toward the Federal Reserve’s benchmark and support the case for raising the benchmark interest rate.  In other housing news, the S&P CoreLogic Case-Shiller home price index will come out on Tuesday and the National Association of Realtors’ new home sales report comes out on Wednesday. 

Read Market Forecast: FOMC Meeting, Case-Shiller Home Price Index, and New Home Sales


Market Recap: Housing Starts Surge, Existing Home Sales and Housing Market Index Unchanged

  • September 21, 2018

Construction activity boomed in August, housing starts posted a significant increase.  Building permits, however, declined.  The National Association of Home Builders’ housing market index was unchanged but remains positive.  Existing home sales were unchanged month-over-month but down year-over-year. 

Read Market Recap: Housing Starts Surge, Existing Home Sales and Housing Market Index Unchanged


Low Down Payment Mortgage Options

  • September 20, 2018

As home prices rise, so do mortgage down payments.  Many potential home buyers are dissuaded from starting their home search because of the myth of the 20% down payment.  According to Down Payment Resources, home buyers younger than 37-years-old put down an average of 7%.  Looking to buy a home but lacking the 20% down payment?  Consider one of these popular low down payment mortgage options.

Read Low Down Payment Mortgage Options


Buyer Beware: How to Spot Down Payment Wire Transfer Fraud

  • September 19, 2018

Buying a home is the biggest purchase most Americans will make in a lifetime and saving for a down payment is the biggest obstacle to making that purchase.  Often, the down payment will include a significant portion of the home buyer’s life savings, especially for first-time buyers. Earlier this month, CNBC reported on a new variant of wire transfer fraud schemes targeting home buyers at the time of closing, in some cases wiping out their entire down payment savings with no chance of recouping the funds.

Read Buyer Beware: How to Spot Down Payment Wire Transfer Fraud


CMG Financial Adds Chet Mann as New Area Sales Manager

  • September 19, 2018

Sanford, NC – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has expanded its Southeastern United States leadership team with the addition of Chet Mann NMLS 171268, Area Sales Manager.  Based out of Sanford, North Carolina, Chet will oversee growth initiatives throughout the Southeast by spearheading recruiting efforts and expanding CMG’s market share.

Read CMG Financial Adds Chet Mann as New Area Sales Manager


South Carolina Couple Celebrates Wedding and a New Home with HomeFundIt

  • September 18, 2018

Charleston, SC – – HomeFundItTM the first and only approved down payment crowdfunding platform, recently celebrated the first successful funded loan in Charleston, SC.  Kelly and Robbie were planning their wedding when they found the home of their dreams.  In their competitive housing market, they knew they had to make an offer right away.  Using HomeFundIt to crowdfund their down payment, Kelly and Robbie were able to celebrate two milestones, their new life together in their new home.

Read South Carolina Couple Celebrates Wedding and a New Home with HomeFundIt


Millennials Delay Marriage, Not Homeownership

  • September 18, 2018

Millennials may be delaying marriage but not homeownership, according to a recent study.  In 1985, 75% of first-time home buyers were married couples.  Today, married couples make up 57% of first-time home buyers.  The National Association of Realtors’ managing director of survey research commented, “it’s absolutely a trend.  People feel fine purchasing a home without a ring.”

Read Millennials Delay Marriage, Not Homeownership


Market Forecast: Housing Market Index, Existing Home Sales, and Housing Starts and Building Permits

  • September 17, 2018

There is a full week of housing news ahead, with the National Association of Home Builders’ (NAHB) housing market sentiment index on Monday followed by housing starts and building permits on Wednesday and existing home sales on Thursday.

Read Market Forecast: Housing Market Index, Existing Home Sales, and Housing Starts and Building Permits


Market Recap: Consumer Credit Expands, Job Openings Up, Mortgage Apps Mixed

  • September 14, 2018

Average mortgage rates did not move significantly this week, trending downward according to Mortgage News Daily.  Both revolving and nonrevolving consumer borrowing increased.  Job openings surged to a record high.  New purchase applications were up but refinance applications were down.

Read Market Recap: Consumer Credit Expands, Job Openings Up, Mortgage Apps Mixed


What to Look for in Your New Neighborhood

  • September 13, 2018

The famous line Location, Location, Location is not a joke when it comes to choosing the right neighborhood for your new home.  Whether you are a first-time home buyer or moving up into your forever home, where you buy matters.  Before you start your home search, determine where you want to buy.  Narrow down the right neighborhood by reviewing these major influencers.

Read What to Look for in Your New Neighborhood


Girl Scouts Swap Cookies for Tiny Houses

  • September 12, 2018

A new five-day Girl Scout Camp in Marine on St. Croix, Minnesota resulted in two habitable tiny houses built entirely by Girl Scouts in grades 6 to 12.  The first Power Girls camp was hosted by the Girl Scouts River Valleys and Dunwoody and took place in Camp Lakamaga.  The goal of the camp was to teach girls the skills they needed to build a home from start to finish.  The products of the camp will be donated to an organization chosen by the proud Girl Scouts.

Read Girl Scouts Swap Cookies for Tiny Houses


1 in 4 American Homes Now Equity Rich

  • September 11, 2018

Last month, ATTOM Data Solutions released a report showing 24.5% of all mortgaged properties were equity rich in Q2 2018.  “Equity rich” is defined as a home with a loan-to-value ratio of 50% or lower.  Collectively, American homeowners have accrued over $15 trillion in home equity, over a trillion and a half dollars more than the highest levels before the recession.  What are they doing with it?

Read 1 in 4 American Homes Now Equity Rich


Market Forecast: Consumer Credit, Job Openings, and Mortgage Apps

  • September 10, 2018

Market-moving reports this week include consumer credit, scheduled for Monday, and the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), scheduled for Tuesday.  Both consumer borrowing and job creation drive economic and housing market momentum.  In housing news, the weekly mortgage application survey comes out on Wednesday.

Read Market Forecast: Consumer Credit, Job Openings, and Mortgage Apps


Market Recap: Construction Spending Up, New Purchase Mortgage Apps Up, ADP Employment Grows

  • September 07, 2018

Construction spending improved in July, led by a surge in residential spending.  New purchase mortgage applications increased while refinance applications decreased.  The ADP employment report showed the addition of 163,000 jobs in August.  Mortgage rates trended slightly upward.

Read Market Recap: Construction Spending Up, New Purchase Mortgage Apps Up, ADP Employment Grows


How to Dispute a Low Home Appraisal

  • September 06, 2018

You will need a home appraisal when you’re buying a new home, selling your current home, or refinancing your mortgage.  Home appraisals are conducted by an independent appraiser to determine the value of the home.  When you are selling your home and the appraisal comes in lower than expected, you could run into some difficulty including the buyer backing out of the sale or the lender denying the buyer the loan they need to purchase the home.  If you’re selling your home and you get a lower appraisal than expected, here are the steps you can take to dispute it.

Read How to Dispute a Low Home Appraisal


CMG Financial Opens Ontario, CA Branch with All-Star Leadership Team

  • September 06, 2018

Ontario, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, is growing its Southern California coverage with the addition of a new Ontario, CA branch.  Led by Area Sales Manager, Chadwick T. Coffman NMLS 
213570, Branch Manager Rob Muster NMLS 213423, and Sales Manager Cory Dressel NMLS 213430, the new branch will continue to expand access to CMG’s innovative lending solutions and world class customer service. 

Read CMG Financial Opens Ontario, CA Branch with All-Star Leadership Team


Trees Do More Than Lower Heat in Dallas Neighborhood

  • September 05, 2018

After an exceptionally hot summer, urban planners are investigating more ways to reduce temperatures in cities around the country.  Because of the “heat island” effect, urban areas tend to be 10 to 20 degrees hotter than surrounding rural areas.  AccuWeather Expert Senior Meteorologist, Tom Kines, explains, “it’s kind of like a brick fireplace; even when the fire goes out, the heat is still in the bricks.  This is the same thing in a city.” 

Read Trees Do More Than Lower Heat in Dallas Neighborhood


First-Time Home Buyers Outnumber Repeat Buyers

  • September 04, 2018

Despite the down payment obstacle, first-time home buyers continue to dominate the housing market.  For the past decade, first-time home buyers have comprised the largest share of home buyers, even though affordability concerns, specifically related to the down payment, have caused many would-be first-time home buyers to delay home purchase. 

Read First-Time Home Buyers Outnumber Repeat Buyers


If You Live in a Flood Zone, Read This

  • August 22, 2018

Even if your home is not located on a shore or beach, you may be living in a flood zone.  According to the Environmental Research Letter, over 41 million Americans are currently living in flood zones, and this includes seemingly landlocked locations.  In the wake of last year’s particularly devastating hurricane season, Flood Insurance is at the forefront of many homeowners’ minds.  The National Flood Insurance Program (NFIP) paid over $8 billion to homeowners with flood insurance policies in 2017. 

Read If You Live in a Flood Zone, Read This


More First-Time Home Buyers Using Retirement Money for Down Payment

  • August 21, 2018

As more Millennials start to enter the housing market as first-time home buyers, an alarming trend has emerged.  According to a recent Bank of the West survey of 600 homeowners ages 21-34 from, one in three took out loans against their retirement account to pay for their down payment.  Saving for a down payment is one of the most commonly reported obstacles to homeownership.  In fact, almost 70% of renters consider it the greatest barrier to homeownership.  However, borrowing against or withdrawing savings from a retirement account could set the home buyer up for long-term financial consequences.

Read More First-Time Home Buyers Using Retirement Money for Down Payment


HomeFundIt Helps More First-Time Home Buyers Enter the Market

  • August 16, 2018

Austin, TX – After living in seven states in less than a decade, Brooke was ready to settle down.  Even with a burgeoning career in marketing, she was struggling to save for the down payment on a home.  She turned to HomeFundItTM  to see if family and close friends would be willing to contribute to her down payment funds.  She was shocked to find out how many people took interest in her campaign, not only family but coworkers, friends, and others.

Read HomeFundIt Helps More First-Time Home Buyers Enter the Market


Should you buy first or sell first?

  • August 16, 2018

Most home sellers are concurrently looking for a new place to live.  Before you put your home on the market, the big question to answer is “should you buy first or sell first?”  Each route has its own advantages, depending on your situation.  If you have plans to sell your home soon, consult a mortgage loan officer to see if you should buy your new home first or sell your current home first.

Read Should you buy first or sell first?


Millennial Home Buyers’ Biggest Regret

  • August 15, 2018

Compared to previous generations, millennials have been slower to become homeowners.  Factors like high student debt, sluggish wage growth, and other residuals from the Great Recession have impacted their ability to buy homes.  Of the millennials who are homeowners (approximately 4 in 10), 68% have expressed buyer’s remorse, with the top concern being spending too much money on the down payment.

Read Millennial Home Buyers’ Biggest Regret


What determines your mortgage interest rate?

  • August 09, 2018

If you’re shopping for a home, you’re probably paying attention to what interest rates are doing.  There are numerous resources available to check average mortgage rates in your area.  Researching rates can give you an idea of what to expect, but the mortgage rate for your specific mortgage loan depends on several key factors. 

Read What determines your mortgage interest rate?


CMG Financial Expands Arizona Coverage with New Scottsdale Team

  • August 06, 2018

Scottsdale, AZ – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, is growing its Arizona presence with the addition of two new branch managers and a full sales staff in Scottsdale, AZ.  The new group includes Jason Johnson NMLS 403755, Branch Manager and Marty Farnsworth NMLS 414002, Branch Manager, nine loan officers, and a production assistant.

Read CMG Financial Expands Arizona Coverage with New Scottsdale Team


CMG Financial Welcomes New Las Vegas, NV Team

  • August 03, 2018

Las Vegas, NV – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has expanded its Western coverage with the addition of a new Las Vegas team.  CMG Financial would like to officially welcome Sheila Ledesma NMLS 317386, Sales Manager, Linda Ayres NMLS 318390, Sales Manager, and Iriany Eustace, Loan Processor.

Read CMG Financial Welcomes New Las Vegas, NV Team


CMG Financial Adds Rob Nelson to Western Leadership Team

  • August 01, 2018

Coronado, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, announced the addition of Rob Nelson NMLS 331060 as its Regional Vice President, Business Development and Production.  Rob will be based out of Coronado, CA and serve the states of California and Utah.

Read CMG Financial Adds Rob Nelson to Western Leadership Team


EVP Kim Callas Recognized in 2018 HousingWire Women of Influence

  • August 01, 2018

San Ramon, CA – National mortgage media group HousingWire announced its 8th Annual Women of Influence list.  CMG Financial’s Executive Vice President, Kim Callas, was recognized among 85 distinguished women for her contributions to the housing industry and propelling it forward. 

Read EVP Kim Callas Recognized in 2018 HousingWire Women of Influence


Is it time to see a Financial Advisor?

  • July 26, 2018

When it comes to money matters, expertise counts.  You wouldn’t buy a home without working with a mortgage loan officer and you probably see a tax professional at least once a year to do your taxes.  But when does the average consumer need to consult a financial advisor?  When it comes to protecting your assets and planning for you and your family’s future, a financial advisor can help you chart your path.  Some major milestones where you should consider consulting a financial advisor include marriage or divorce, family expansion, wealth changes, and retirement. 

Read Is it time to see a Financial Advisor?


Don’t Believe This Big Credit Card Myth

  • July 25, 2018

Lenders use the credit score to evaluate a potential borrower’s ability to repay the loan.  Your credit score is integral to your ability to qualify for a mortgage.  It can take years to build up your credit score and just a few mistakes to damage it.  One pervasive credit card myth many consumers believe could actually be hurting your credit score.  According to a report by CreditCards.com, over 43 million Americans, 22% of all consumers, have carried a balance on their credit card under the impression it will improve their credit score.  Unfortunately, that is not the case.

Read Don’t Believe This Big Credit Card Myth


CMG Financial Opens Farmington Hills, MI Branch with Branch Managers Suzie Boutorwick and Scott Elia

  • July 23, 2018

Farmington Hills, MI – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, continues to grow its Midwestern presence with the addition of the Farmington Hills, MI branch.  The new branch, headed by Branch Managers Suzie Boutorwick NMLS 455731 and Scott Elia NMLS 162661, will serve the greater Michigan area.  Joining the new location are Anthony Yousif NMLS 1523991, Loan Officer, Rana Abouna, Loan Processor, and Lilian Pellerito, Production Assistant. 

Read CMG Financial Opens Farmington Hills, MI Branch with Branch Managers Suzie Boutorwick and Scott Elia


For Sale by Owner: Proceed with Caution

  • July 19, 2018

Home sellers choose the “For Sale by Owner” (FSBO) route because they believe they will earn a larger profit by not having to pay their real estate agent a commission fee.  FSBO transactions tend to become even more popular in a seller’s market.  In 2016, the National Association of Realtors (NAR) reported the average FSBO sales price was $185,000, compared to the average $245,000 for a home represented by a real estate agent.  A staggering $60,000 difference, even despite the commission cost for the real estate agent. 

Read For Sale by Owner: Proceed with Caution


How to Buy a Home When You’re Self-Employed

  • July 12, 2018

Buying a home when you are self-employed or own your own business will require more documentation than if you are a salaried employee with a yearly W2.  In today’s increasingly mobile job market, more and more US workers are choosing self-employment over traditional payroll jobs.  Freelancing is growing in popularity as workplaces become more remote.  Buying a home when you’re self-employed or own your own business is possible, when you do your homework.  Freelancers and small business owners can follow these tips for a smooth home buying process.

Read How to Buy a Home When You’re Self-Employed


HomeFundIt Success featured in The Wall Street Journal

  • July 11, 2018

Reese and Kyle Rademacher weren’t sure how they would afford a down payment to buy a home until their real-estate agent mentioned an offbeat idea: crowdfund the money from friends and family.

Read HomeFundIt Success featured in The Wall Street Journal


Should you work with a Real Estate Agent?

  • July 05, 2018

In the digital age, many home buyers feel they can skip partnering with a professional Realtor or real estate agent because of their access to listing websites and other online tools.  While listing sites like Zillow and Trulia can help a home buyer find out what’s for sale in their area and start shopping, there are still many advantages to continuing your search with an established Realtor or real estate agent. 

Read Should you work with a Real Estate Agent?


How to Spot What’s Hiding in a Staged Home

  • July 04, 2018

Staging a home is a way for home sellers to show potential buyers what the home will look like when they live there.  A staged home can give the buyer an idea of where to put their furniture and how to decorate.  While home staging can accentuate a home’s nice features, it can also cover up some unwanted damage.  

 

Read How to Spot What’s Hiding in a Staged Home


Money-Saving Tips Everyone Can Try

  • June 27, 2018

Saving for a down payment is one of the biggest challenges first-time home buyers around the country face.  Whether you are getting ready to buy a home, or saving for something else, everyone could use some fresh ideas to save more effectively.  Lifestyle blog Refinery 29 partnered with Intuit, the maker of QuickBooks, Mint, and TurboTax, to compile this list of money-saving tips everyone can try.

Read Money-Saving Tips Everyone Can Try


California MBA Welcomes New Board Member AJ George

  • June 26, 2018

San Francisco, CA – The California Mortgage Bankers Association (CMBA) announced three new board members this month, including AJ George, Chief Administrative Officer, CMG Financial.  Mr. George will join an established group of leading mortgage executives promoting advocacy, education, and connection within the mortgage industry and throughout the greater community.  Mr. George will be sworn in with the rest of the board’s returning directors and officers at the July 16th meeting in San Francisco. 

Read California MBA Welcomes New Board Member AJ George


Mortgage Application Denied? What to do Next.

  • June 20, 2018

A mortgage application can be denied for a number of reasons.  There is nothing more heartbreaking than going through the home shopping process only to have financing fall through.  LendingTree reports approximately 8% of mortgage loan applications are denied nationwide.  While it’s a setback, mortgage application denial does not have to mean the end of your home search.  Taking these proactive steps after having a mortgage application denied can help you with your future home search.

Read Mortgage Application Denied? What to do Next.


HomeFundIt Family Finds New Hope After Fire Destroys Home

  • June 19, 2018

Tampa, FL – Last December, the Diaz family was in crisis after suffering an unspeakable loss when their home was destroyed in a fire.  They were left with no home, no presents for the holidays, and no next move.  After their story gained local media attention, a childhood friend and CMG Financial loan officer, Alain Juvert NMLS 1173442, reached out to introduce them to HomeFundItTM, the down payment crowdfunding platform. 

Read HomeFundIt Family Finds New Hope After Fire Destroys Home


HomeFundIt Surpasses $1 Million Milestone

  • June 13, 2018

HomeFundItTM, the first and only approved down payment crowdfunding platform, celebrated $1 Million raised last week.  To date, HomeFundIt has helped 337 families purchase a home with a crowdfunded down payment.  The proprietary service is changing lives around the country, one closed loan at a time.   

Read HomeFundIt Surpasses $1 Million Milestone


CMG Financial Initiates Central Valley Expansion

  • June 13, 2018

Manteca, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, is growing its Central Valley coverage with the addition of a new team based out of Manteca, CA.  Led by Area Sales Manager, Joe Villegas NMLS 353587, the team will serve the greater San Joaquin and Stanislaus Counties to provide more access to CMG’s superior client service and specialized loan programs. 

Read CMG Financial Initiates Central Valley Expansion


CMO Paul Akinmade Recognized as 2018 HousingWire Rising Star

  • June 06, 2018

Baltimore, MD – National mortgage media group HousingWire announced its 2018 Rising Stars of young leaders to watch in the housing industry.  CMG Financial’s Chief Marketing Officer, Paul Akinmade, was recognized among 46 other industry-leading innovators as a 2018 Rising Star. 

Read CMO Paul Akinmade Recognized as 2018 HousingWire Rising Star


Demand for Down Payment Assistance on the Rise

  • June 05, 2018

Saving for a down payment is the most commonly reported obstacle to homeownership.  With rents rising and student debt accumulating, the problem is even more exacerbated with first-time home buyers trying to enter the market.  As the down payment obstacle persists, the demand for down payment assistance has also continued to increase.  According to a Scotsman Guide interview with Down Payment Resource CEO Rob Chrane, as of the first quarter of 2018 there are approximately 2,503 down payment assistance programs nationwide, and the demand for down payment help is likely to continue.

Read Demand for Down Payment Assistance on the Rise


Your Mortgage Shouldn’t be One Size Fits All

  • May 31, 2018

At this year’s Mortgage Bankers Association (MBA) Secondary Marketing conference, one of the most prevalent topics of discussion was the growing market for different types of mortgage loans besides common options like the 30-year fixed rate mortgage.  The 30-year fixed-rate mortgage is the cornerstone of American homeownership and has helped families nationwide become homeowners for almost a century.  As the housing market changes, interest rates fluctuate, and regulations evolve, newer, more innovative mortgage products are starting to emerge.  In today’s mortgage market, your mortgage should not be “one size fits all.” 

Read Your Mortgage Shouldn’t be One Size Fits All


CMG Financial’s Katherine Osborn Named Top 1% Mortgage Originators in America by Mortgage Executive Magazine

  • May 31, 2018

San Ramon, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, congratulates Katherine Osborn on her achievement of ranking in the Top 1% of Mortgage Originators in America by Mortgage Executive Magazine.

Read CMG Financial’s Katherine Osborn Named Top 1% Mortgage Originators in America by Mortgage Executive Magazine


CMG Financial Opens Council Bluffs, IA Branch with Branch Manager Joe Stephens

  • May 23, 2018

Council Bluffs, IA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, deepens its Midwestern presence with the addition of the Council Bluffs, IA branch.  The new branch, headed by Branch Manager Joe Stephens NMLS 521197, will serve the Council Bluffs and surrounding area.  Joining the new location are Lori Brokman NMLS 457156, Loan Officer, Kari Kingery, Loan Processor, and Deborah Hunter, Production Assistant. 

Read CMG Financial Opens Council Bluffs, IA Branch with Branch Manager Joe Stephens


HomeFundIt Celebrates First Funding in Cheyenne, Wyoming

  • May 23, 2018

Cheyenne, WY – HomeFundItTM, the first and only approved down payment crowdfunding platform, recently celebrated the first successful funded loan in Cheyenne, WY.  Recently engaged Kyle and Kaitlyn were faced with the enormous costs of paying for a wedding, paying down student debt, and buying their first home.   With HomeFundIt, they were able to alleviate the financial burden, become homeowners, and even save some money for their dream wedding.

Read HomeFundIt Celebrates First Funding in Cheyenne, Wyoming


Why is renting perceived as the more affordable option?

  • May 10, 2018

A home is the first appreciating asset most Americans will own and the first step many will take toward building wealth.  With rents skyrocketing around the country, the average monthly mortgage payment is typically less than the average monthly rental payment in most regions.  According to a new Freddie Mac report, 67% of renters continue renting because they believe it is more affordable than buying a home. 

Read Why is renting perceived as the more affordable option?


NEVER Put These Expenses on Credit Cards

  • May 09, 2018

Credit cards are no longer the “emergency use only” tools they once were.  Outstanding consumer credit card debt surpassed $1 trillion in 2017, the highest it has ever been.   Unfortunately, not all consumers are borrowing responsibly.  According to NerdWallet, 86% of Americans who had or currently have credit card debt regret it.  Using a credit card responsibly is one way to positively influence your credit score.  However, not every expense should be put on credit cards.  Here are some of the big-ticket expenses Experian warns, should never be put on credit cards.

Read NEVER Put These Expenses on Credit Cards


HomeFundIt Celebrates Success in Hampstead, North Carolina

  • May 02, 2018

Hampstead, NC – HomeFundItTM, the first and only approved down payment crowdfunding platform, announces another successful campaign completion in Hampstead, North Carolina.  Ryan and Aimee, a young couple who recently relocated from Wisconsin to Hampstead, North Carolina, were able to increase their down payment through crowdfunding and become homeowners for the first time. 

Read HomeFundIt Celebrates Success in Hampstead, North Carolina


HUD and VA Commit $43 Million Toward Housing Homeless Veterans

  • April 25, 2018

The Department of Housing and Urban Development (HUD) and the Department of Veterans Affairs (VA) announced a budget of $43 million toward funding permanent housing solutions for homeless veterans.  The funding will be distributed amongst 325 local public housing agencies with the hopes of housing over 5,200 homeless veterans. 

Read HUD and VA Commit $43 Million Toward Housing Homeless Veterans


HomeFundIt iPhone and Android App Now Available

  • April 19, 2018

HomeFundItTM, the first and only approved down payment crowdfunding platform, is now available as a mobile app for iPhone and Android devices.  Home buyers can download the free app on the App Store or Google Play Store and launch HomeFundIt campaigns from the palm of their hands.

Read HomeFundIt iPhone and Android App Now Available


Types of Refinance: Which One is Right for You?

  • April 19, 2018

Homeowners choose to refinance their mortgage for a number of reasons.  Homeowners may refinance if they have the opportunity to secure a better interest rate or need to change the repayment terms of the loan.  Cash out refinances allow homeowners to pull cash out of their loan, by raising the total loan value.  Cash in refinances enable homeowners to pay down the loan principal and lower their monthly payments.  Renovation refinances can be used to finance a home’s needed repairs or remodels through the monthly mortgage payment. 

Read Types of Refinance: Which One is Right for You?


Tax Day Warning: What happens if you don’t pay your taxes?

  • April 17, 2018

Today, April 17th, 2018, is the deadline for filing 2017 taxes.  When the default filing day, April 15th, falls on the weekend, the official filing deadline gets moved to the following non-holiday (April 16th is Emancipation Day, a legal holiday in the District of Columbia).  Not filing taxes, or not paying taxes in the case of taxes owed, carry different penalties depending on the circumstances.  In some cases, tax payers have the option to file for an extension to avoid these fees. 

Read Tax Day Warning: What happens if you don’t pay your taxes?


CMG Financial’s Carey Ann Cyr Ranked as One of the Nation’s Top Originators

  • April 13, 2018

CMG Financial’s Carey Ann Cyr Ranked as One of the Nation’s Top Originators
Scotsman Guide Releases Top Originators 2017 Rankings

Nashville, TN – Apr 13, 2018 – CMG Financial congratulates Carey Ann Cyr and her mortgage team from Franklin, TN, for ranking as Scotsman Guide’s 2017 top originators. Carey Ann Cyr was ranked 17th Most Closed Loans 2017, 31st Top Purchase Volume 2017, 22nd Top FHA Volume 2017, and 52nd Top Dollar Volume 2017.

Read CMG Financial’s Carey Ann Cyr Ranked as One of the Nation’s Top Originators


CMG Financial’s Chris Minjarez Ranked as One of the Nation’s Top Originators

  • April 13, 2018

CMG Financial’s Chris Minjarez Ranked as One of the Nation’s Top Originators
Scotsman Guide Releases Top Originators 2017 Rankings

San Ramon, CA –  Apr 13, 2018 – CMG Financial congratulates Chris Minjarez, Senior Market Manager, Austin, TX, for ranking as a Scotsman Guide 2017 Top Originator. Chris was ranked 435th Top Dollar Volume 2017. 

Read CMG Financial’s Chris Minjarez Ranked as One of the Nation’s Top Originators


CMG Financial’s Jill Lyons Ranked as One of the Nation’s Top Originators

  • April 13, 2018

CMG Financial’s Jill Lyons Ranked as One of the Nation’s Top Originators
Scotsman Guide Releases Top Originators 2017 Rankings

San Ramon, CA — Apr 13, 2018 — CMG Financial congratulates Jill Lyons, senior loan officer, San Ramon, California, for ranking as a Scotsman Guide 2017 Top Originator. Jill was ranked 15th for Top HELOC Volume 2017.

Read CMG Financial’s Jill Lyons Ranked as One of the Nation’s Top Originators


Kory Kavanewsky Ranked as One of the Nation’s Top Originators

  • April 13, 2018

Kory Kavanewsky Ranked as One of the Nation’s Top Originators
Scotsman Guide, the leading national resource for mortgage originators published monthly with separate residential and commercial editions, released the annual Top Originators 2017 rankings.

Coronado, CA – Apr 13, 2018 – CMG Financial congratulates Kory Kavanewsky, VP of Production for Western Division and Branch Manager of the Coronado and Scripps Ranch, California locations, for ranking as a Scotsman Guide 2017 Top Originator.  Kory ranked #90 for overall dollar volume production and #38 for VA dollar volume production.

Read Kory Kavanewsky Ranked as One of the Nation’s Top Originators


CMG Financial’s Ryan Holford Ranked as One of the Nation’s Top Originators

  • April 13, 2018

CMG Financial’s Ryan Holford Ranked as One of the Nation’s Top Originators
Scotsman Guide Releases Top Originators 2017 Rankings

San Ramon, CA –  May 1, 2018 – CMG Financial congratulates Ryan Holford, senior loan officer, San Ramon, CA, for ranking as a Scotsman Guide 2017 Top Originator. Ryan was ranked 6th Top HELOC Volume 2017. 

Read CMG Financial’s Ryan Holford Ranked as One of the Nation’s Top Originators


Benefits of Downsizing in Retirement

  • April 12, 2018

As a large share of the population approaches retirement, one of the recurring debates is whether or not to downsize.  Americans are living longer than previous generations, and with that comes more expenses for medical, travel, and cost of living.  These expenses combined with the upkeep and maintenance of a large home could easily exceed retirement savings.  To ensure a more financially comfortable retirement, many Americans are choosing to downsize from larger homes to smaller homes.  TD Ameritrade reports 42% of Americans plan on downsizing when they retire. 

Read Benefits of Downsizing in Retirement


How Student Loan Debt Prevents Homeownership

  • April 10, 2018

One of the most pervasive issues hurting first-time home buyers today is student debt.  The substantial cost of higher-education pushes many young Americans to take out high-balance loans and graduate with debt in the range of tens of thousands of dollars, or higher, depending on the degree.  Over 45 million Americans carry student debt, the average borrower owes more than $30,000 and one-fifth of borrowers owe more than $100,000.  Student loan debt is hurting homeownership in a number of ways, because it lessens the borrower’s ability to save for a down payment and closing costs, it increases the borrower’s debt-to-income ratio, and in some cases negatively impacts the borrower’s credit score.

Read How Student Loan Debt Prevents Homeownership


5 CMG Financial Originators Ranked as Scotsman Guide 2017 Top Originators

  • April 05, 2018

Scotsman Guide, the leading resource for mortgage originators, released its ninth annual Top Originators rankings on April 1st.  CMG Financial is pleased to announce four of our originators ranked as 2017 Top Originators.  Please join us in congratulating Carey Ann Cyr, Kory Kavanewsky, Chris Minjarez, Ryan Holford, and Jill Lyons.

Read 5 CMG Financial Originators Ranked as Scotsman Guide 2017 Top Originators


Advantages of Energy Efficient Upgrades

  • April 04, 2018

Adding energy efficient appliances, fixtures, and other systems to your home can not only cut utility costs, but also increase the value of the home.  With a continuously emerging energy efficient marketplace, plus the advent of smart home technology, some homeowners may be wondering where to start and which energy efficient upgrades will yield the best results. 

Read Advantages of Energy Efficient Upgrades


Pre-Purchase Planning for the Perfect Home

  • March 29, 2018

This spring home buying and selling season is expected to be one of the most competitive in over a decade.  The National Association of Home Builders (NAHB) reports that 61% of home buyers looking to buy in the next 12 months, have been searching for three months or longer, and their sample includes buyers looking for newly constructed and previously-owned homes.

Read Pre-Purchase Planning for the Perfect Home


Trulia’s Top Homeowner Regrets

  • March 22, 2018

Buying a home is the first step many consumers take toward building wealth, becoming a part of a community, and seizing a piece of the American dream.  But, some home purchases can lead to regret when buyers don’t do the appropriate research or make a hasty decision.  Real estate blog Trulia surveyed homeowners across the country to find out what went wrong with a past purchase, and how they would have handled the experience differently. 

Read Trulia’s Top Homeowner Regrets


How to Raise Your Credit Score Before Home Purchase

  • March 21, 2018

Lenders use a home buyer’s credit score to determine credit risk and evaluate their ability to repay a loan.  A good FICO credit score is instrumental to securing a mortgage loan and, in some cases, getting a better interest rate.  Most mortgage professionals suggest potential home buyers start credit repair at least six months to a year before shopping for a home.  Remember, each hard credit pull, like the kind needed for a new line of credit like a mortgage, will impact the credit score!  A little credit repair now goes a long way when it comes to a high-dollar purchase later.

Read How to Raise Your Credit Score Before Home Purchase


Buyer Beware: Spot These Small Problems Before They Cost You Big Time

  • March 15, 2018

Shopping for a home is an exciting experience.  When a home buyer finds a home they love, it can be easy to get attached or even emotional about the home.  However, what seems like a dream house can turn into a money pit without a thorough inspection.  The US Department of Housing and Urban Development (HUD) estimates a typical home inspection can cost anywhere between $300 to $500, depending on the region and condition of the home.  Before spending money on one or more home inspections, watch out for these simple clues that can be signs of costly damage beneath the surface. 

Read Buyer Beware: Spot These Small Problems Before They Cost You Big Time


CMG Financial Opens Lafayette, IN Branch led by Branch Manager Crystal Cover

  • March 05, 2018

Lafayette, IN – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, continues to expand its Midwestern coverage with the opening of a new branch in Lafayette, IN led by Branch Manager Crystal Cover NMLS 205118.  Joining the new branch is production assistant, Lacey Cobbs. 

Read CMG Financial Opens Lafayette, IN Branch led by Branch Manager Crystal Cover


CMG Financial's Carey Ann Cyr Ranked #38 of Top 100 Originators in America by Mortgage Executive Magazine

  • February 28, 2018

Nashville, TN – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, congratulates Carey Ann Cyr, Area Sales Manager, Franklin, TN, for ranking #38 of Top 100 Originators in America by Mortgage Executive Magazine.

Read CMG Financial's Carey Ann Cyr Ranked #38 of Top 100 Originators in America by Mortgage Executive Magazine


CMG Financial's Kory Kavanewsky Ranked #70 of Top 100 Originators in America by Mortgage Executive Magazine

  • February 28, 2018

Coronado, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, congratulates Kory Kavanewsky, Branch Manager, Coronado, CA, for ranking #70 of Top 100 Originators in America by Mortgage Executive Magazine.

Read CMG Financial's Kory Kavanewsky Ranked #70 of Top 100 Originators in America by Mortgage Executive Magazine


CMG Financial Loan Officers Recognized as Top 1% Originators in America by Mortgage Executive Magazine

  • February 26, 2018

San Ramon, CA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, congratulates its thirteen loan officers recognized as Top 1% Originators in America by Mortgage Executive Magazine, including the two originators who earned Top 100 distinctions. 

Read CMG Financial Loan Officers Recognized as Top 1% Originators in America by Mortgage Executive Magazine


FYI: What's PITI?

  • February 22, 2018

New to the mortgage process?  You are probably seeing a lot of new acronyms you may not be familiar with.  The monthly mortgage payment, for example, is comprised of “PITI” or Principal, Interest, Taxes, and Insurance.  When budgeting for the cost of a monthly mortgage payment, home buyers should consider the cost of each of these components.

Read FYI: What's PITI?


CMG Financial Opens Slidell, LA Branch led by Branch Manager Andrea West

  • February 20, 2018

Slidell, LA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has opened a new branch in Slidell, LA led by Branch Manager Andrea West NMLS 543208.  Joining the new branch is loan officer, Gina Orgeron NMLS 850890.

Read CMG Financial Opens Slidell, LA Branch led by Branch Manager Andrea West


Low Down Payment Option: 100% Yours with as Little as 3% Down

  • February 19, 2018

Saving for a down payment is one of the most commonly reported obstacles to homeownership and continues to slow down the home buying process for creditworthy borrowers.  As rents and home prices continue to rise, almost every demographic, especially first-time home buyers, are experiencing difficulties in saving for a down payment. 

Read Low Down Payment Option: 100% Yours with as Little as 3% Down


How Remodeling Impacts Home Values

  • February 01, 2018

With the current pace of home price appreciation and limited housing inventory, some homeowners are choosing to remodel and renovate their current homes instead of moving.  Many homeowners choose to remodel under the pretense that that their improvements will increase the resale value of their home.  While this is true to an extent, certain types of renovations have greater impact on home values than others. 

Read How Remodeling Impacts Home Values


Understanding the Appraisal Process

  • January 25, 2018

Purchasing or refinancing a home will typically require a home appraisal to determine its current value.  The appraisal should be conducted by a qualified appraiser who is licensed or certified in the state and familiar with homes in the area.  Fannie Mae requires an appraisal from an appraiser who has worked with similar properties in the area.  The appraiser operates independently from the buyer and seller to make an unbiased decision. 

Read Understanding the Appraisal Process


CMG Financial Expands Leadership Team with Jon Wallace, Area Sales Manager

  • January 25, 2018

St. Joseph, MI – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, continues to deepen its Midwestern presence with the addition of Jon Wallace NMLS 1047351, Area Sales Manager. Jon has held leadership positions in the mortgage industry for over twenty years and will oversee growth initiatives throughout the greater Michigan and Indiana area. 

Read CMG Financial Expands Leadership Team with Jon Wallace, Area Sales Manager


CMG Financial Expands Leadership Team with Dan Yribar, Area Sales Manager

  • January 24, 2018

Tucson, AZ – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, continues to grow its Southwestern coverage with the addition of Dan Yribar NMLS 192027, Area Sales Manager.  Dan will support the state of Arizona, based out of Tucson.

 

Read CMG Financial Expands Leadership Team with Dan Yribar, Area Sales Manager


CMG Financial Expands with Jason Haley, Area Sales Manager

  • January 09, 2018

Raleigh, NC – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, welcomes Jason Haley NMLS 116361, Area Sales Manager, Raleigh, NC.   CMG has undergone an aggressive Eastern Division expansion this year, and additions like the Haley team will help the growing region continue to provide exceptional service.

Read CMG Financial Expands with Jason Haley, Area Sales Manager


CMG Financial Attends NAHB International Builders' Show January 9-11

  • January 09, 2018

CMG Financial is attending the NAHB International Builders' Show in Orlando, FL from January 9th - 11th.  Visit us in the South Hall Booth S2640 and check out our new service HomeFundItTM, the first and only approved down payment crowdfunding platform.

Read CMG Financial Attends NAHB International Builders' Show January 9-11


CMG Financial Welcomes Darren Lennemann, Area Sales Manager, Las Vegas

  • December 11, 2017

Las Vegas, NV – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, welcomes Darren Lennemann NMLS 290772, Area Sales Manager, Las Vegas, NV.  Darren is a knowledgeable financial services professional with over fifteen years of mortgage sales and management experience.  

Read CMG Financial Welcomes Darren Lennemann, Area Sales Manager, Las Vegas


CMG Financial Expands Again with Gilbert, AZ Branch

  • December 11, 2017

Gilbert, AZ – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, has opened a new branch in Gilbert, AZ to serve the greater Gilbert and Chandler area.  The new branch will be instrumental in developing the Arizona market and growing CMG’s Southwestern presence.  The leadership team includes Tim Reed NMLS # 442458 as Area Sales Manager, and Michael West NMLS # 155689 and Joseph Cowart NMLS # 630269 as co-branch managers. 

Read CMG Financial Expands Again with Gilbert, AZ Branch


CMG Financial Expands Southwestern Coverage with Area Sales Manager Tim Reed

  • December 11, 2017

Gilbert, AZ – CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, CA, is expanding it Southwestern coverage with the addition of Tim Reed NMLS #442458, Area Sales Manager.  Tim will be based out of Gilbert, AZ and lead growth initiatives throughout this crucial region.

Read CMG Financial Expands Southwestern Coverage with Area Sales Manager Tim Reed


CMG Financial Opens West Des Moines, IA Branch with Branch Manager Kyle Casey

  • December 04, 2017

West Des Moines, IA – CMG Financial, a privately-held, well-capitalized mortgage banking firm headquartered in San Ramon, CA, strengthens its central United States presence with the addition of a new West Des Moines, IA branch, led by branch manager, Kyle Casey NMLS 13352.  Kyle has over a decade of experience originating loans and managing branches throughout the state of Iowa and is looking forward to leading the new team with CMG Financial. 

Read CMG Financial Opens West Des Moines, IA Branch with Branch Manager Kyle Casey


Giving Tuesday

  • November 21, 2017

This Tuesday, we’re joining the global day of generosity, #GivingTuesday. For us, this is a day when you can make a big impact on the CMG Foundation and the important charities it supports. With your help, we’ll raise funds for the following charities: 

  • Gary Sinise Foundation 
  • Cancer Support Community Bay Area 
  • MBA Opens Doors Foundation 

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CMG Financial Opens Greensboro, NC Branch with Michael Buckhannon

  • November 06, 2017

Greensboro, NC – CMG Financial, a well-capitalized, privately held mortgage-banking firm headquartered in San Ramon, CA, announces the opening of the new Greensboro, NC branch, led by branch manager Michael Buckhannon NMLS #74075. Michael has over two decades of mortgage leadership experience and has spent most of his career in the North Carolina area. Michael’s extensive experience and regional connections will serve him well with hiring and staffing for the new branch.

Read CMG Financial Opens Greensboro, NC Branch with Michael Buckhannon


Self-Employed and Saving for a Down Payment

  • November 02, 2017

Saving for a down payment continues to be one of the most pervasive obstacles to homeownership today.  Even with low down payment options available, down payment amounts are increasing as home prices appreciate due to limited available inventory and strong buyer demand.  

Read Self-Employed and Saving for a Down Payment


Rising Sea Levels Threaten Coastal Properties

  • October 25, 2017

This year’s particularly active hurricane season brought to light the issues with coastal communities.  Coastal dwelling is not just limited to luxury homeowners.  Many homes along the coasts of the Southeastern United States, and along coastlines across the country, fall into the median or low-cost price ranges.  However, rising sea levels threaten many coastal and even inland properties.

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CMG Financial ranked among ranking criteria in the name of region by Austin Business Journal

  • October 23, 2017

Austin, TX -- CMG Financial announced today that it has been ranked No. 6 by the Austin Business Journal on its Top Austin-area mortgage companies list.  The rankings were published October 6, 2017.  To view the complete List, visit market http://bizj.us/1pcukq.  

Read CMG Financial ranked among ranking criteria in the name of region by Austin Business Journal


Generation Z Renters Gearing Up for Homeownership

  • October 12, 2017

Generation Z (Gen Z) renters include people born between the late 1990s or 2000s are more interested in homeownership than the preceding generation, the Millennials, according to a new survey.  Zillow reports 57% of Gen Z renters are confident they will own a home, compared to 55% of Millennials.  The discussion of Millennials delaying homeownership has been prevalent throughout the housing industry.  Now with a new demographic of young home buyers vying for starter homes, the housing market might just get more competitive. 

Read Generation Z Renters Gearing Up for Homeownership


Simple Adjustments to Save Big on Your Electric Bill

  • September 27, 2017

Electric bills tend to rise during the summer months because of hot weather and air conditioners working overtime.  Energy efficient appliances and other home renovations can reduce electricity consumption, but may be costly to install.  Before splurging on energy efficient upgrades, make a few changes to daily behaviors.  

Read Simple Adjustments to Save Big on Your Electric Bill


CMG Financial Opens San Jose, CA Branch with Branch Manager Kimberly Ford-Allen

  • September 12, 2017

San Jose, CA - CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, announced the opening of its new San Jose, CA branch led by Branch Manager Kimberly Ford-Allen NMLS 431903.  Kimberly will work as an originating branch manager, serving the surrounding counties of Santa Clara, San Mateo, Alameda, and Contra Costa.  She will build a strong team leveraging her partnerships throughout the region.

Read CMG Financial Opens San Jose, CA Branch with Branch Manager Kimberly Ford-Allen


HomeFundIt Celebrates First Home Funded

  • September 01, 2017

Monterey, CA – HomeFundItTM the first and only approved down payment crowdfunding platform, is proud to confirm its first funded home.  Under the guidance of their mortgage loan officer, Wendy Bluhm, Jeff and Hannah Smith gave the new financing solution a try when a grant opportunity fell through.

Read HomeFundIt Celebrates First Home Funded


File Your Hurricane Harvey Insurance Claims before Friday

  • August 29, 2017

Our thoughts and prayers are with the victims of Hurricane Harvey throughout the Texas area.  If you or someone you know has had a home or business impacted by Hurricane Harvey, it is imperative that you file an insurance claim before Friday.

Read File Your Hurricane Harvey Insurance Claims before Friday


More Trees Improve Local Weather and Save Energy

  • August 23, 2017

Adding greenery to cities and neighborhoods is more than just an aesthetic choice.  According to researchers at the University of British Columbia, adding trees to neighborhoods actually improves the weather by reducing the impact of wind.  Researchers designed a computer model and tested the impact of trees on a Vancouver neighborhood.  Based on the data, trees could save the neighborhood modeled up to 15% on energy bills in the summer and 10% on energy bills in the winter.

Read More Trees Improve Local Weather and Save Energy


CMG Financial Strengthens Southwestern Coverage with Branch Manager Chuck Biggs

  • August 23, 2017

CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, welcomes Chuck Biggs NLMS# 396834 as branch manager of the Scottsdale, AZ branch.  Chuck brings twenty-seven years of financial services experience, with two decades in mortgage leadership roles. 

Read CMG Financial Strengthens Southwestern Coverage with Branch Manager Chuck Biggs


CMG Financial Welcomes Branch Manager Wendy Bluhm to Monterey, CA Branch

  • August 22, 2017

CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, welcomes Wendy Bluhm NMLS# 876698, Branch Manager, Monterey, CA.  Wendy will serve the Monterey Peninsula as an originating Branch Manager, developing new business and leading expansion efforts.

Read CMG Financial Welcomes Branch Manager Wendy Bluhm to Monterey, CA Branch


Local Lender Receives USDA Rural Development Award

  • August 21, 2017

CMG Mortgage, Inc. Named Gold Million Dollar Lender

Stevens Point, Wis., August 21, 2017 - - - USDA Rural Development Acting State Director, Dave Schwobe, named CMG Mortgage, Inc. as a recipient of the 2016 Gold Million Dollar Lender Award. 

Read Local Lender Receives USDA Rural Development Award


CMG Financial Opens Urbandale, IA Branch Led by DeeDee Kalny

  • August 21, 2017

CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, added another Central Division location with the opening of its new branch in Urbandale, IA.  Local mortgage leader, DeeDee Kalny NMLS# 32567 will serve as the new Urbandale branch manager.  DeeDee has over 13 years of mortgage industry experience, including spending the last decade in leadership positions. 

Read CMG Financial Opens Urbandale, IA Branch Led by DeeDee Kalny


CMG Financial Opens New Omaha, NE Branch Led by Mike Dein

  • August 07, 2017

CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, expanded its Great Plains presence with the opening of a new branch in Omaha, NE.  Local veteran originator Mike Dein NMLS# 543333 will serve as the new location’s branch manager.  Mike has over a decade of experience in the Omaha region and plans to strengthen the local market and expand throughout the state of Nebraska.

Read CMG Financial Opens New Omaha, NE Branch Led by Mike Dein


CMG Financial Strengthens Pacific Northwest Coverage with New Medford, OR Branch

  • August 02, 2017

CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, has opened a new branch located in Medford, Oregon.  The new branch is the latest addition in a nationwide growth initiative spanning across the country.  The Medford branch, led by Branch Manager Jeff Hall, will serve the greater Oregon area.

Read CMG Financial Strengthens Pacific Northwest Coverage with New Medford, OR Branch


CMG Financial Biloxi Branch Recognized in SunHerald People’s Choice Awards 2017

  • July 28, 2017

CMG Financial, a well-capitalized, privately-held mortgage-banking firm headquartered in San Ramon, CA, is proud to announce the Biloxi, MS Branch was voted one of the Top 3 Mortgage Lenders in the SunHerald’s Annual People’s Choice Awards.  The Biloxi Branch, led by originating branch manager Don Blaize, is honored to be selected by the community it serves.

Read CMG Financial Biloxi Branch Recognized in SunHerald People’s Choice Awards 2017


Over Half of All Home Buyers Put Down Less Than 20%

  • July 27, 2017

For most first-time home buyers, the biggest challenge when buying a home is saving for the down payment.  However, the 20% down payment is not as rigid of a requirement as it has been in the past.  Low down payment programs, especially those targeting first-time home buyers, are growing in popularity. 

Read Over Half of All Home Buyers Put Down Less Than 20%


Texas Town 100% Powered by Renewable Energy

  • July 19, 2017

A little change goes a long way in Georgetown, Texas, located about thirty miles north of the state capital, Austin.  Georgetown is one of the first cities in the United States to be completely powered by renewable energy.  To date, Texas produces more wind energy than the next three leading states combined. 

Read Texas Town 100% Powered by Renewable Energy


CMG Financial Adds Chip Larson as Western Divisional Vice President, Retail Lending

  • July 17, 2017

CMG Financial, a privately held mortgage-banking firm headquartered in San Ramon, CA, strengthened its leadership team with the addition of Chip Larson as Western Divisional Vice President, Retail Lending.  Chip will lead and support growth initiatives in the western division and work with other division leaders to achieve national goals.

Read CMG Financial Adds Chip Larson as Western Divisional Vice President, Retail Lending


5 Affordable Locations for Vacation Homes

  • July 05, 2017

Vacation homes and investment properties can be used as a “home away from home” and also potentially become a source of rental income when occupied.  The cost of the vacation home largely depends on the location. 

Read 5 Affordable Locations for Vacation Homes


Average American Credit Score Highest in 12 Years

  • July 04, 2017

The FICO credit score ranks consumers’ credit-worthiness on a scale of 300 (poor credit) to 850 (excellent credit).  The FICO score is the most widely accepted credit score used by lenders and other financial institutions.  The average FICO score hit a record-high, reaching 700 for the first since tracking began 12 years ago. 

Read Average American Credit Score Highest in 12 Years


The Case for the 10% Down Payment

  • June 08, 2017

One of the most common misconceptions home buyers face is the iron clad 20% down payment.  There are many flexible mortgage financing programs available that do not require a 20% down payment.  Bank of America CEO Brian Moynihan offered his thoughts on the 20% down payment in an interview with CNBC.

Read The Case for the 10% Down Payment


CMG Financial Ranked as One of the Nation’s Top Mortgage Lenders

  • June 07, 2017

Scotsman Guide, the leading resource for mortgage originators, named CMG Financial one of the top mortgage lenders of 2016. CMG Financial was ranked among entries from hundreds of mortgage companies across the country, in three categories: Top Overall Volume (15), Top Wholesale Volume (9), and Top Correspondent Volume (7).

Read CMG Financial Ranked as One of the Nation’s Top Mortgage Lenders


CMG Financial Recognized as 2017 Best Places to Work in the Bay Area

  • May 30, 2017

This month, CMG Financial was named one of the 2017 Best Places to Work in the Bay Area.  CMG attributes this honor to its strong culture of success.  CMG’s culture depends on all team members working together to deliver the right loans, for the right reasons, in a way that exceeds all expectations. 

Read CMG Financial Recognized as 2017 Best Places to Work in the Bay Area


CMG Financial Extends Great Plains Reach with Ryan Hatleli

  • May 22, 2017

CMG Financial, a well-capitalized, privately held mortgage-banking firm, continues national expansion with the addition of Ryan Hatleli, Regional Manager, Great Plains.  Ryan’s expansive network of connections and extensive managerial experience will serve him in his new role as he develops the Great Plains region.

Read CMG Financial Extends Great Plains Reach with Ryan Hatleli


CMG Financial Increases Southern Presence with Jeff Fair

  • May 17, 2017

CMG Financial, a well-capitalized, privately held mortgage-banking firm, continues its coast to coast expansion with the addition of Jeff Fair, Alabama Area Sales Manager.  Jeff is currently managing three offices in Auburn and Orange Beach, Alabama and Panama City, Florida with plans to grow throughout the Gulf Shores region.

Read CMG Financial Increases Southern Presence with Jeff Fair


Home Builders Swap Luxury for Starter Homes

  • May 16, 2017

With millennials entering the housing market slowly, luxury homes are not on their radar.  The Wall Street Journal reported home builders are switching gears and building smaller.  The newest generation is shopping small, so home builders have put their focus on starter homes rather than luxury homes.

Read Home Builders Swap Luxury for Starter Homes


CMG Financial Continues Southeastern Expansion with Don Blaize

  • May 16, 2017

CMG Financial, a well-capitalized, privately held mortgage-banking firm, continues its Southeastern expansion with the addition of Don Blaize, Branch Manager, Mississippi.  Don is a nineteen-year industry veteran that thrives on developing new business and overcoming any professional challenges.

 

Read CMG Financial Continues Southeastern Expansion with Don Blaize


The Advantage of Underwriting Teams

  • May 12, 2017

CMG Financial groups each loan originator with a small group of underwriters to facilitate open communication and fast and accurate transactions.  When underwriters are overwhelmed loans are processed more slowly and mistakes are made. 

Read The Advantage of Underwriting Teams


CMG Financial Broadens Southwestern Coverage with John Callahan

  • May 10, 2017

CMG Financial, a well-capitalized, privately held mortgage-banking firm, deepens its Southwestern coverage with the addition of John Callahan, Regional Manager, Southwest.  John’s extensive mortgage leadership experience and regional relationships make him the ideal candidate for developing this critical location.

Read CMG Financial Broadens Southwestern Coverage with John Callahan


Renovation Resurgence

  • May 09, 2017

Millennials are delaying buying a home for numerous reasons including student loan debt, home price appreciation, and housing availability.  Until new home construction offsets heightened demand, many prospective homeowners are facing inventory constraints.  According to the 2016 Houzz and Home Survey, millennials and first-time homebuyers are spending more on renovations after home purchase. 

Read Renovation Resurgence


CMG Financial Expands Mid-Atlantic Leadership with Joe Lee

  • May 03, 2017

CMG Financial, a well-capitalized mortgage-banking firm, announced its latest leadership hire, following a successful onboarding assembly on the East Coast.  Joe Lee joins CMG Financial as Regional Manager of North Carolina and Virginia.  Joe has over twenty-five years of sales and lending experience and will oversee Mid-Atlantic growth.  His extensive regional ties and overall industry knowledge make him a natural fit for the position. 

Read CMG Financial Expands Mid-Atlantic Leadership with Joe Lee


Spring Cleaning Your Finances

  • April 25, 2017

We clean out our closets, clean up the garage, why not add your finances to your spring cleaning list?  With tax season in the rearview, spring is an excellent opportunity to clean up your finances. 

Read Spring Cleaning Your Finances


Beware! Common Real Estate Scams

  • April 19, 2017

Scammers target homebuyers or sellers because of the amount of money at stake during the real estate transaction.  Using trusted real estate professionals, keeping communication open, and staying aware throughout the process can help reduce the risk of fraud. 

Read Beware! Common Real Estate Scams


Survey: Down Payment Biggest Obstacle to Homeownership

  • April 18, 2017

A recent Zillow survey reveals nearly 70% of renters report saving for a down payment as the largest barrier to homeownership.  With rents reaching record highs, the average rent costs nearly 50% of the median income in many cities.  Even with the delay in buying a home, most renters cite homeownership as a goal.  63% of survey respondents are confident they will someday own a home, 25% believe it will happen in the next three-to-five years.

Read Survey: Down Payment Biggest Obstacle to Homeownership


MBA National Secondary Conference & Expo 2017

  • April 18, 2017

It’s time for one of the biggest Mortgage Conferences of the year in the biggest financial center in the country: the MBA National Secondary Market Conference & Expo 2017 in New York, New York.

Read MBA National Secondary Conference & Expo 2017


Joining the 800+ Credit Club

  • April 05, 2017

Lenders use credit scores to determine a borrower’s ability to repay debt like mortgages and vehicle loans.  Credit scores impact lending terms, mortgage rates, and financing eligibility.  Typically, scores above 700 are considered good.  TransUnion reports only about 20% of Americans have a score above 780 and even fewer rank above 800.  How can consumers improve their credit score and reach these elite ranges?

Read Joining the 800+ Credit Club


4 CMG Financial Originators Ranked as Scotsman Guide 2016 Top Originators

  • April 03, 2017

Scotsman Guide, the leading resource for mortgage originators, released its seventh annual Top Originators rankings on April 1st.  CMG Financial is pleased to announce four of our originators ranked as 2016 Top Originators.  Please join us in congratulating Carey Ann Cyr, Jill Lyons, Ryan Holford, and Kory Kavanewsky.

Read 4 CMG Financial Originators Ranked as Scotsman Guide 2016 Top Originators


Pros and Cons of Paying Points

  • March 30, 2017

Points, also known as discount points or origination points, are fees paid to the lender to secure a reduced interest rate for the life of the mortgage loan.  Points are an optional fee that are beneficial to some buyers, especially those who will be living in the home long-term. 

Read Pros and Cons of Paying Points


MBA Opens Doors Foundation

  • March 29, 2017

We truly believe home is where the heart is.  For those suffering from illnesses, having a place to call home can be just as healing as the hospital.  Unfortunately, unexpected medical expenses have the potential to cause major financial damage to families.  The MBA Opens Doors Foundation is here to help. 

Read MBA Opens Doors Foundation


The Advantage of an In-House Marketing Agency

  • March 28, 2017

CMG Financial’s marketing department is a built-in ad agency complete with graphic designers, videographers, web developers, copywriters, and strategists.  Leveraging industry expertise, the agency is constantly innovating and creating brand awareness through every media channel on a companywide and individual basis. 

Read The Advantage of an In-House Marketing Agency


The Advantage of Operational Efficiency

  • March 13, 2017

Even the best loan originators can face workflow bottlenecks that delay deals and may even strain customer relationships.  At CMG Financial, processors are expected to close a limited number of loans a month to ensure accurate and expeditious workflow. 

Read The Advantage of Operational Efficiency


The Advantage of Strong Relationships

  • February 27, 2017

CMG Financial stays on the forefront of industry trends through relationships with Freddie Mac, Fannie Mae, and Ginnie Mae.  To maintain a competitive advantage in this industry CMG Financial executives and managers pursue leadership roles in industry organizations like the National Mortgage Bankers Association.

Read The Advantage of Strong Relationships


No Substitute for the FICO Score

  • February 23, 2017

One of the first steps in securing a home loan is determining the borrower’s credit score.  With multiple credit bureaus reporting on different factors, the borrower may see multiple versions of their credit score.  Additionally, lead generation websites are constantly phishing consumers to get their free “credit scores.”  HousingWire reports that new research suggests that the VantageScore is not the same as a FICO score despite claims asserting otherwise.

Read No Substitute for the FICO Score


Looking Forward

  • February 13, 2017

CMG Financial thrives on its ability to deliver extraordinary experiences to every customer because of its commitment to service. 

Read Looking Forward


Breaking Down Dodd-Frank

  • February 07, 2017

The Dodd-Frank Wall Street Reform is the legislation that was enacted after the financial crisis to reduce predatory lending and regulate the banking industry.  On Friday, President Trump signed an executive order to reconsider post-financial crisis regulations, like Dodd-Frank.

Read Breaking Down Dodd-Frank


Pete Castillejos Added to 2017 Mortgage Bankers Association of Hawaii Board and Officers

  • February 02, 2017

Pete Castillejos, Branch Manager of CMG Financial’s Honolulu Office, was named a director on the 2017 Mortgage Bankers Association of Hawaii Board and Officers.  Castillejos is one of only sixteen members of the leadership team of this adjunct chapter of the National Mortgage Bankers Association.  In his new role, he will continue to promote fair and ethical lending practices and encourage professional collaboration among mortgage professionals through educational events, programs, and publications.

Read Pete Castillejos Added to 2017 Mortgage Bankers Association of Hawaii Board and Officers


CMG Financial Welcomes New Shorewood, WI Branch

  • January 30, 2017

CMG Financial, a privately held mortgage-banking firm, opens the new year with a new branch in Shorewood, WI.  Headquartered in San Ramon, CA, CMG Financial is continuing to solidify its national presence with Midwestern and Eastern expansion efforts.  The new Shorewood branch will serve the city of Milwaukee and the North Shore region and facilitate further opportunities in the Midwest.

Read CMG Financial Welcomes New Shorewood, WI Branch


Ben Carson’s To-Do List

  • January 24, 2017

Last week, the Senate Committee on Banking, Housing and Urban Affairs began its hearing for Dr. Ben Carson’s appointment as Secretary of the Department of Housing and Urban Development.  This morning, his nomination was approved. Past HUD secretaries chose to take on flagship issues during their terms.  With Dr. Carson’s background as a neurosurgeon and his abundant contributions to the medical field, housing experts predict that “health and housing” will be one of his signature issues.

Read Ben Carson’s To-Do List


Benefits of More Walkable Neighborhoods

  • January 18, 2017

As the car-centric world starts shifting toward the walkability trend, neighborhoods are seeing property values rise and quality of life improve.  Enabling pedestrianization of a neighborhood is the first step toward urban renewal, commitment to a better environment, and a revamped sense of community. 

Read Benefits of More Walkable Neighborhoods


Western Division Vice President Announces Expansion Initiative

  • December 28, 2016

Western Division Vice President, Dave Herbst, unveiled expansion plans for CMG Financial’s Wholesale Lending Channel.   The Wholesale Lending Channel functions on developing innovative relationships with select partners by providing adequate support to fulfill production needs.  Available territories include Hawaii, Western Washington from Olympia to Seattle to Bellingham and Southern California encompassing Los Angeles, Riverside, and San Bernardino counties.

Read Western Division Vice President Announces Expansion Initiative


42% of REALTORS® Report Clients Interested in Smart Home Devices

  • December 22, 2016

Devices like learning thermostats and smart home security systems are changing the way homeowners integrate technology into their homes.  Smart home devices are having such a significant impact, that the National Association of REALTORS® released its first report on smart homes last month. 

Read 42% of REALTORS® Report Clients Interested in Smart Home Devices


CMG Financial Welcomes Industry Leader Tony Giglio

  • December 08, 2016

CMG Financial welcomes mortgage-banking professional Tony Giglio to its senior management team.  Giglio joins this month as Vice President of Retail Lending.  He is an accomplished mortgage banking leader with two decades of retail lending experience and several previous managerial roles including leadership positions at New Penn Financial and Countrywide Home Loans. 

Read CMG Financial Welcomes Industry Leader Tony Giglio


Can you buy a new home if you haven’t sold your current home?

  • December 01, 2016

You have to relocate for a job, and you only have two weeks.  Family circumstances make your spouse relocate but you are still looking for work in the new location.  You found the home of your dreams and don’t want it to go off the market before you’ve sold your current home. 

Read Can you buy a new home if you haven’t sold your current home?


Rent vs. Buy: 3 Questions to Consider

  • November 17, 2016

Do you build equity with every home purchase?  Is renting just throwing money away?  How long do you have to stay in a home to build equity?  Are rents more stable than mortgage rates?

Read Rent vs. Buy: 3 Questions to Consider


CMG Financial Adds Two Industry Leading Managers to Eastern Division

  • November 15, 2016

CMG Financial is excited to announce that Michael Pancoast has recently joined as the Area Sales Manager for the Mid-Atlantic Region. In this role, Michael will focus his recruiting and growth efforts on Pennsylvania, New Jersey, and Delaware.  

Read CMG Financial Adds Two Industry Leading Managers to Eastern Division


Five Star Professional and Diablo Magazine Award CMG Financial

  • October 26, 2016

Congratulations to CMG Financial’s San Ramon team!  They were recognized as 2016 Five Star Home Professionals by Five Star Professional and Diablo Magazine.

Read Five Star Professional and Diablo Magazine Award CMG Financial


#FORWARD Thinking at the MBA Annual Convention and Expo

  • October 25, 2016

The industry’s esteemed mortgage banking executives are away this week attending the MBA Annual Convention and Expo.  This year’s conference highlights the future of the mortgage banking industry with a central theme of moving #FORWARD.  The event is taking place October 23-26 in Boston, MA.

Read #FORWARD Thinking at the MBA Annual Convention and Expo


CMG Financial Correspondent Lending Sponsors the MBA’s Annual Convention & Expo 2016 #HEROES

  • October 07, 2016

CMG Financial Correspondent Lending is proud to be a Diamond Sponsor at the MBA’s Annual Convention & Expo 2016 #HEROES

Read CMG Financial Correspondent Lending Sponsors the MBA’s Annual Convention & Expo 2016 #HEROES


6 Reasons to Buy in the Fall

  • October 06, 2016

According to research conducted by Realtor.com, fall might actually be a better season to buy a new home.  Traditionally shoppers have considered spring and summer as the first choice seasons for new homebuyers.  Fall and winter bring colder weather and family holidays that deter shoppers from browsing potential new homes.  However, there are some advantages to buying a home during the fall season.

Read 6 Reasons to Buy in the Fall