Market Recap: Mortgage Applications, Housing Starts, and Building Permits Rebound

  • July 21, 2017

Mortgage rates started to trend downward this week, following Federal Reserve Chair Janet Yellen’s dovish remarks at her semiannual testimony last week.  The housing market index dropped slightly, but remains positive.  Mortgage applications turned around after last week’s Independence Day slow down.  Housing starts and building permits also rebounded.

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

  • July 17, 2017

Mortgage rates were trending upward last week, then edged downward after Federal Reserve Chair Janet Yellen’s semiannual testimony before the Senate Banking Committee.  This week, the National Association of Home Builders (NAHB) releases its housing market index on Tuesday.  Housing starts and building permits come out Wednesday, along with the weekly mortgage application survey. 

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Market Recap: Consumer Credit Expands, JOLTS Increases, Retail Sales Drop

  • July 14, 2017

This week, mortgage rates started to fall after Federal Reserve Chair Janet Yellen’s remarks at her semiannual testimony before the Senate Banking Committee.  Expectations of a September or December rate hike have dropped.  Consumer credit expanded at the fastest pace in seven months, there were fewer job openings than expected and retail sales declined.

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Market Forecast: Consumer Credit, JOLTS, and Retail Sales

  • July 10, 2017

Mortgage rates started to increase last week.  This week, there are no monthly housing reports scheduled, but several other important reports on consumer activity and job openings.  On Monday, the consumer credit report comes out, on Tuesday, job openings will be released, and retail sales comes out on Friday. 

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Market Recap: Construction Spending Unchanged, Mortgage Apps Up, ADP Employment Numbers Positive

  • July 07, 2017

Mortgage rates started to trend upward after a few weeks of holding steady.  This month, US construction spending remained unchanged and private-sector jobs grew less than anticipated.  New purchase mortgage applications rebounded after last week’s declines, and refinance applications decreased slightly. 

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

  • July 03, 2017

Mortgage rates trended slightly higher last week, but there are no significant changes to report.  This week, markets will be closed tomorrow in observance of Independence Day.  In housing news, US construction spending comes out on Monday and the weekly mortgage application survey comes out Wednesday.  It will also be a big week for job news with the ADP employment report scheduled for release on Thursday and several other employment reports on Friday.

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Market Recap: Case-Shiller Up, Pending Home Sales Down, GDP Expands

  • June 30, 2017

Mortgage rates started to trend upward this week, though there are no significant changes to report.  Home prices are continuing their steady trend of appreciation and contracts signed declined slightly as limited housing inventory continues to strain housing activity.  The third revision for first quarter’s Gross Domestic Product (GDP) came out Thursday, with a positive expansion.

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

  • June 26, 2017

Mortgage rates stayed low last week, trending slightly downward according to Mortgage News Daily.  Housing market activity picked up with gains in both existing home sales and new home sales.  This week, the S&P CoreLogic Case-Shiller home price index comes out Tuesday, the pending home sales index comes out Wednesday, and on Thursday we get the third estimate for first-quarter Gross Domestic Product (GDP). 

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Market Recap: Gains All Around with Existing Home Sales, New Home Sales, and FHFA House Price Index

  • June 23, 2017

Mortgage rates stayed low this week, trending downward according to Mortgage News Daily, despite the June rate hike.  The final numbers from the spring selling season were mostly positive, with existing home sales and new home sales rebounding and the Federal Housing Finance Agency (FHFA) house price index also improving. 

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

  • June 19, 2017

Last week, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate to a level of 1.00% - 1.25%, the second rate hike of 2017.  This week, the final numbers from the spring selling season will be available including existing home sales, new home sales, and the Federal Housing Finance Agency (FHFA) house price index.

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Market Recap: Rate Hike, Home Builders Confidence Declines, and Housing Starts and Building Permits Drop

  • June 16, 2017

As expected, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate.   Mortgage rates did not change drastically following the announcement, increasing slightly according to some sources.  The National Association of Home Builders’ (NAHB) housing market index declined slightly.  Housing starts and building permits declined.

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Market Forecast: FOMC Meets, Home Builders’ Index, Housing Starts, and Building Permits

  • June 12, 2017

Mortgage rates trended downward last week, ahead of this week’s Federal Reserve policy meeting.  The Federal Open Market Committee (FOMC) is scheduled to meet Tuesday and Wednesday and hold a press conference Wednesday afternoon.  The National Association of Home Builders (NAHB) will release the home builders’ sentiment index on Thursday and housing starts and building permits come out on Friday.

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

  • June 09, 2017

Mortgage rates trended downward this week.  There were no major housing reports scheduled, aside from the weekly mortgage application survey.  Job openings surged and consumer credit growth was sluggish.  The labor market and consumer spending patterns influence the housing market.  When consumers are gainfully employed and confident in the labor market, they are more inclined to spend and borrow.

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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).

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Market Forecast: JOLTS, Mortgage Apps, and Consumer Credit

  • June 05, 2017

Mortgage rates did not move much last week, hovering the year-long low.  This week will be light on housing news, aside from the weekly mortgage application survey.  Other significant economic reports include the Job Openings and Labor Turnover Survey (JOLTS) and the consumer credit report.

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Market Recap: Case-Shiller House Price Index Increases, Pending Home Sales and Construction Spending Decline

  • June 02, 2017

Mortgage rates did not move significantly this week and are holding near year-long lows.  The Case-Shiller house price index appreciated to the highest level in over two years.  Pending home sales and construction spending each declined.

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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. 

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

  • May 29, 2017

Markets are closed today in observance of Memorial Day.  This week’s scheduled reports will include the final numbers of May and the first numbers of June.  The Case-Shiller home price index comes out Tuesday, pending home sales index comes out Wednesday, and construction spending comes out Thursday.

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Market Recap: Existing and New Home Sales Disappoint, FHFA House Price Index Improves

  • May 26, 2017

This week, mortgage rates hovered year-long lows.  New home sales and existing home sales flattened, each declining month-over-month but still improving year-over-year.  The Federal Housing Finance Agency (FHFA) house price index appreciated slightly.

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

  • May 22, 2017

Mortgage rates trended downward last week, amidst some political turmoil in Washington.  This week, there will be some significant reports on the first numbers from second quarter including new home sales and existing home sales.  The Federal Housing Finance Agency (FHFA) will release its house price index, also. 

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Market Recap: Home Builders Positive Despite Drop in Housing Starts, Building Permits, and Mortgage Apps

  • May 19, 2017

Mortgage rates are down from last week, hovering year-long lows.  The home builders’ sentiment index posted positive numbers in May after a decline in April.  Housing starts and building permits each dropped, and both new purchase and refinance mortgage applications decreased.

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

  • May 15, 2017

Mortgage rates trended upward last week following continued uncertainty surrounding tax and healthcare reform.  This week, the National Association of Home Builders (NAHB) will release their monthly housing market index, housing starts and building permits come out Tuesday, and the weekly mortgage applications survey comes out Wednesday.

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Market Recap: Mortgage Applications Up, Retail Sales Up, Job Openings Stall

  • May 12, 2017

Mortgage rates trended upward this week, but remain near year-long lows.  Both new purchase and refinance applications increased, after last week’s lack of rate movement.  Job openings remained unchanged from February to March.  Retail sales improved, but were less than expected. 

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Market Forecast: No Rate Hike, JOLTS, Mortgage Apps, and Retail Sales

  • May 08, 2017

Last week, the Federal Open Market Committee (FOMC) left rates unchanged after their meeting.  As a result, mortgage rates trended slightly downward.  This week, the Labor Department releases its monthly Job Openings and Labor Turnover Survey (JOLTS), the Mortgage Bankers Association (MBA) puts out a weekly mortgage applications survey, and the retail sales report comes out Friday. 

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Market Recap: No Rate Hike, Construction Spending Drops, ADP Falls Short

  • May 05, 2017

Mortgage rates decreased slightly, following the Federal Open Market Committee’s decision to not raise the benchmark interest rate.  US construction spending showed gains in residential construction, but not much elsewhere and the ADP employment report posted modest gains.

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Market Forecast: FOMC Meeting, Construction Spending, and ADP Employment

  • May 01, 2017

Mortgage rates trended upward last week, after hitting year-long lows earlier in the month.  This week, the Federal Open Market Committee (FOMC) will meet for the third time this year.  There is not a press conference scheduled after this meeting, but there will be an official announcement released on Wednesday at 2 PM.   Also scheduled for release this week, are the US construction spending report and the ADP employment report.

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Market Recap: Home Prices Increase, New Home Sales Surge, Pending Home Sales Decline

  • April 28, 2017

Mortgage rates trended upward this week.  The S&P CoreLogic Case-Shiller home price index and new home sales report each posted significant gains.  Pending home sales declined slightly, due to mixed regional numbers.

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

  • April 24, 2017

Mortgage rates did not move significantly last week, after hitting a year-long low earlier in the month.  There will be a full schedule of housing reports this week including the S&P CoreLogic Case-Shiller home price index, new home sales, and pending home sales.

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

  • April 21, 2017

Mortgage rates did not fluctuate much this week, hovering the year-long lows they hit last week.  The housing market index gave a positive reading.  Housing starts declined, but building permits ticked up.  Existing home sales surged to the highest level since 2007.

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

  • April 17, 2017

Last week, Freddie Mac reported mortgage rates dipped to new 2017 lows.  The lower rates bode well for the spring home buying season, typically the busiest of the year.  This week, the National Association of Home Builders (NAHB) will release the housing market index on Monday.  On Tuesday, housing starts and building permits come out and on Wednesday there will be the existing home sales report.

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Market Recap: Mortgage Rates Drop, Consumer Sentiment Soars, and More

  • April 14, 2017

This week, Freddie Mac reported the 30-year fixed-rate average interest rate dropped to the lowest level of the year so far, driven down by the political climate.  Job openings increased, but hiring declined.  The consumer sentiment index continued to surge and retail sales dropped.

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Market Forecast: JOLTS, Consumer Sentiment, Retail Sales

  • April 10, 2017

Mortgage rates trended downward last week.  This week, economic reports of significance include the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), the consumer sentiment index, and retail sales report. 

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Market Recap: Construction Spending and ADP Employment Improve

  • April 07, 2017

Mortgage rates trended downward this week after an uptick last week.  US construction spending increased, mortgage applications returned mixed numbers, and the ADP Employment report posted a sizable gain.

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

  • April 03, 2017

Mortgage rates continued to hold steady last week, trending slightly upward according to Mortgage News Daily.  This week will be light on housing news and heavy on jobs reports.  Jobs reports, like this week’s ADP employment report, are still relevant to the housing market because labor market growth triggers spending and borrowing by gainfully employed consumers.

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Market Recap: Home Prices, Pending Home Sales, and Consumer Spending Gain

  • March 31, 2017

Mortgage rates did not move much this week, trending slightly upward from last week.  The S&P CoreLogic Case-Shiller home price index surged at a record pace, pending home sales increased, and consumer spending improved also.

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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. 

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

  • March 27, 2017

Mortgage rates trended downward last week.  When the Federal Reserve raises the short-term interest rate, long-term rates like mortgage rates may not react immediately. This week, there will be the S&P Case-Shiller home price index, the pending home sales report, and the consumer spending, personal income, and core inflation report.

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

  • March 24, 2017

Mortgage rates continued to trend downward this week.  There was a mixed bag of housing news.  The Federal Housing Finance Agency (FHFA) house price index was unchanged, existing home sales dropped, and new home sales increased.

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

  • March 20, 2017

Last week, the Federal Open Market Committee (FOMC) voted to raise the benchmark interest rate.  In response, mortgage rates trended downward.  Long-term interest rates will move more slowly than short-term rates in reacting to movements by the Fed.  This week, there will be several important housing reports including the Federal Housing Finance Agency’s house price index, existing home sales, and new home sales. 

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Market Recap: Record Home Builders’ Reports and a Federal Rate Hike

  • March 17, 2017

Happy St, Patrick’s Day!  As expected, the Federal Open Market Committee (FOMC) voted to raise interest rates.  Mortgage rates reacted by trending down.  The home builders’ sentiment index increased at a record pace and housing starts also posted gainful numbers.  However, building permits declined. 

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Market Forecast: Federal Open Market Committee Meets Tuesday and Wednesday

  • March 13, 2017

The Federal Open Market Committee (FOMC) will meet this Tuesday and Wednesday and vote on whether or not to raise the benchmark interest rate.  Last week, the European Central Bank voted to leave interest rates unchanged.  In the United States, Mortgage rates were on the rise last week as the market priced in a federal interest rate hike.

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Market Recap: Will Robust Job Growth Lead to Rate Hike Next Week?

  • March 10, 2017

Mortgage rates were on the rise this week, ahead of next week’s Federal Open Market Committee (FOMC) meeting.  After this week’s positive job numbers from the ADP employment report, many economists are predicting a rate hike will take place next week.

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Market Forecast: MBA Mortgage Applications, Consumer Credit, and ADP Employment

  • March 06, 2017

Mortgage rates did not move much last week, trending upward according to some surveys.  There are no major housing reports scheduled this week, except for the weekly Mortgage Bankers Association (MBA) purchase application survey.  Other notable economic reports include consumer credit and the ADP employment report.

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Market Recap: Case-Shiller Home Price Index Improves, Pending Home Sales and US Construction Drop

  • March 03, 2017

There was not much movement from mortgage rates this week, trending upwards according to some sources.  The S&P CoreLogic Case-Shiller home price index improved, but the pending home sales index and construction spending declined.  On Wednesday, the Federal Reserve released its Beige Book ahead of the Federal Open Market Committee (FOMC) Meeting later this month. 

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

  • February 27, 2017

Mortgage rates did not change significantly last week, and trended downward according to some sources.  This week includes the end of February and the beginning of March, bringing some important monthly housing reports.  The National Association of Realtors (NAR) pending home sales index and US construction spending will forecast what to expect for housing in the coming months. 

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Market Recap: Existing Home Sales Surge, New Home Sales Rebound, and FHFA House Price Index

  • February 24, 2017

Mortgage rates trended downward this week.  New home sales and existing home sales each showed signs of strength and the Federal Housing Finance Agency (FHFA) house price index increased.  New Treasury Secretary Steve Mnuchin addressed Fannie Mae and Freddie Mac reform is on the agenda but stated that it was not the number one priority.

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

  • February 20, 2017

Last week, Steve Mnuchin was sworn in as Treasury Secretary, Fed Chair Janet Yellen suggested an interest rate hike is coming soon, and mortgage rates started to rise. This week’s important housing reports will include existing home sales, new home sales, and the Federal Housing Finance Agency’s (FHFA) House Price Index.

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Market Recap: NAHB Housing Market Index, Housing Starts, and Building Permits

  • February 17, 2017

This week, Federal Reserve Chair Janet Yellen delivered her semiannual testimony on the Fed’s monetary policy.  Because of her hawkish tones, economists have increased March’s rate hike expectations to 35%.  The National Association of Home Builders’ (NAHB) housing market index dropped this month and housing starts declined, but building permits increased.  Retail sales posted modest increases as well.  

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

  • February 13, 2017

Mortgage rates dropped somewhat last week.  Rates in 2017 have stayed relatively unchanged following volatility toward the end of 2016.  This week, the National Association of Home Builders (NAHB) will release a housing market index.  Other scheduled reports include retail sales, housing starts, and building permits. 

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Market Recap: Consumer Credit and Mortgage Apps Up, JOLTS Down Slightly

  • February 10, 2017

After some volatility earlier in the month, mortgage rates started to drop this week.  Last week, the Federal Open Market Committee (FOMC) voted to leave interest rates unchanged.  This week, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) dropped slightly, and consumer credit posted modest gains.  Mortgage applications also increased this week, following a drop last week.

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Market Forecast: No Rate Hike, Jolts Report, and Consumer Credit

  • February 06, 2017

Mortgage rates fluctuated only slightly last week, and the Federal Open Market Committee (FOMC) voted to not raise interest rates.  This week, the Labor Department releases its Job Openings and Labor Turnover Survey (JOLTS), the consumer credit report for December comes out, and the MBA releases its weekly mortgage purchase application index.

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Market Recap: Housing Numbers are Up and No Rate Hike, Yet

  • February 03, 2017

Mortgage rates did not move much this week, following the Federal Open Market Committee’s (FOMC) decision not to raise interest rates.  Despite a week-over-week drop in new purchase and refinance mortgage applications, monthly housing numbers posted strong gains.

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

  • January 30, 2017

Mortgage rates experienced some volatility last week.  On Tuesday, Dr. Ben Carson’s nomination for the Secretary of the Department of Housing was approved by the Senate Committee.  On Wednesday morning, the Dow Jones Industrial Average opened at 20,000. This week the Federal Open Market Committee meets on Tuesday and Wednesday.  Upcoming housing reports include pending home sales and the S&P Case-Shiller home price index. 

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Market Recap: Carson Approved, Dow20K, and Mortgage Movement

  • January 27, 2017

Mortgage rates experienced some volatility this week, opening with a decline and then climbing throughout the week.  The Senate Banking, Housing, and Urban Affairs Committee approved Dr. Ben Carson’s nomination for the Secretary of the Department of Housing and Urban Development.  The next step in his proceedings will be facing the entire Senate vote.  On Wednesday, the Dow Jones Industrial Average broke 20,000 for the first time ever.  Important housing reports that were released this week include existing home sales, new home sales, and the Federal Housing Finance Agency House Price Index.

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

  • January 23, 2017

Mortgage rates went up last week and the Department of Housing and Urban Development suspended their plan to cut mortage insurance premiums on Federal Housing Administration Loans.  This week, there will be important housing reports including existing home sales, the Federal Housing Finance Agency’s House Price Index, and new home sales.

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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

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