Market Recap: Rates Hold Steady, Housing Activity Slows

  • September 22, 2017

The Federal Open Market Committee (FOMC) voted to leave rates unchanged at its September meeting, last Tuesday and Wednesday.  Housing activity has slowed across the board, with almost every report showing declines.  The housing market index dropped, housing starts and existing home sales declined, but building permits increased.

Read


Hurricane Impacting Loan Funding

  • September 20, 2017

As the industry continues to cope with the property damage from Hurricane Irma, many prospective home buyers were caught in limbo. Each loan type and each agency has different funding requirements with respect to a federally-declared natural disaster zone. A segment of Florida home buyers that were planning on financing through a FHA recently experienced a delay in closing and some confusion. One of the requirements of funding a FHA loan after a disaster is that a reinspection is completed after the established end date. Once that occurs lenders can quickly reassess the property condition and finalize the funding and closing process.

Read


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

  • September 18, 2017

 This week will be a full week for housing with numerous important housing reports scheduled.  On Monday, the National Association of Home Builders (NAHB) will release the housing market index.  On Tuesday, housing starts and building permits comes out.  On Wednesday, the National Association of Realtors (NAR) will release the existing home sales report.  The Federal Open Market Committee (FOMC) is scheduled to meet Tuesday and Wednesday and a press conference with Fed Chair Janet Yellen will follow on Wednesday.

Read


Market Recap: Job Openings Up, Mortgage Applications Surge, Inflation Slow

  • September 15, 2017

Mortgage rates are starting to increase, after dropping to year-long lows earlier this month.  Mortgage applications reacted with both new purchase and refinance submissions increasing significantly.  Job openings increased again, but the labor market remains tight.  The consumer price index exceeded expectations but inflation subdued.

Read


Hurricane Relief Continues Across the Southeast

  • September 13, 2017

Last week, the Southeastern United States incurred more storm-related damage as Hurricane Irma plowed through Florida and Georgia.  With Texas and Louisiana still recovering from Hurricane Harvey, and Hurricane Irma damage just starting to get assessed, discussion of the National Flood Insurance Program is fervent among homeowners, disaster relief agencies, and housing professionals.

Read


Market Forecast: JOLTS, Mortgage Applications, and the Consumer Price Index

  • September 11, 2017

Mortgage rates are trending downward and mortgage application submissions are up.  Homeowners and home buyers are looking to lock rates ahead of the Federal Open Market Committee (FOMC) policy meeting next week.  This week, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) comes out on Tuesday, the Mortgage Bankers Association (MBA) mortgage application survey comes out on Wednesday, and the Consumer Price Index comes out on Thursday.

Read


Market Recap: Hurricane Watch Continues, Fed Beige Book, and Mortgage Applications

  • September 08, 2017

Mortgage rates dropped slightly this week.  Hurricane Harvey recovery is underway in Texas and the government agreed to a short-term debt ceiling extension, in part to help fund the relief effort.  Additional hurricanes are forming in the Atlantic and the Gulf of Mexico.  Mortgage application submission increased amidst rising rates.  The Federal Reserve released its Beige Book on Wednesday.

Read


Market Forecast: Hurricane Harvey Cleanup, Fed Beige Book, Mortgage Applications

  • September 04, 2017

Last week, Hurricane Harvey caused major damage across the Gulf Coast.  Southeastern Texas and the Houston metro area suffered heavy flooding and parts of the region are still underwater.  American Red Cross President Brad Kieserman expects cleanup to last through December.  Markets are closed today in observance of Labor Day.

Read


Market Recap: Case-Shiller Home Price Index Up and Construction Spending and Pending Home Sales Down

  • September 01, 2017

This week, Hurricane Harvey devastated much of Texas’s Gulf Coast and other parts of the Southeastern United States.  Mortgage rates did not shift drastically and the Federal Reserve is reconsidering further rate hikes this year, as the greater Houston area begins the process of rebuilding.  Tightened housing inventory has led to an increase in home prices and a decrease in pending home sales.  Construction spending decreased overall, but the residential housing segment improved. 

Read


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


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

  • August 28, 2017

Mortgage rates did not move much last week, and continue to hover year-long lows.  This week, the S&P CoreLogic Case-Shiller home price index comes out on Tuesday.  The pending home sales index comes out Thursday and US construction spending will be released Friday. 

Read


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

  • August 25, 2017

Mortgage rates did not move significantly this week, hovering year-long lows.  The Federal Housing Finance Agency (FHFA) house price index appreciated.  New home sales and existing home sales each declined amid low housing inventory and a competitive housing market.

Read


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

  • August 21, 2017

Mortgage rates dropped last week to a post-election low.  This week will be a heavy housing week with reports on the Federal Housing Finance Association’s (FHFA) house price index, existing home sales, and new home sales.

Read


Market Recap: Retail Sales Improve, Housing Market Index Up, Housing Starts and Building Permits Down

  • August 18, 2017

Mortgage rates dropped to a new post-election low, but did not translate into increased housing market activity.  Housing starts and building permits each dropped, but the housing market index improved.  Retail sales exceeded expectations.

Read


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

  • August 14, 2017

Mortgage rates are trending slightly downward.  On Tuesday, the National Association of Home Builders (NAHB) will release its August housing market index and the July retail sales report also comes out.  On Wednesday, July’s housing starts and building permits data will be released.  

Read


Market Recap: Consumer Credit Expands, Job Openings Increase, Mortgage Apps Improve

  • August 11, 2017

Mortgage rates trended slightly downward this week.  Consumer credit expanded more modestly than the previous month.  Job openings surged to a record high.  Mortgage applications improved after declining last week.

Read


Market Forecast: Consumer Credit, JOLTS, and Mortgage Apps

  • August 07, 2017

Mortgage rates slid slightly last week, as expectations for additional 2017 rate hikes have dropped.  This week, there are no significant housing reports scheduled other than the weekly mortgage application survey on Wednesday.  On Monday, consumer credit comes out and on Tuesday the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) will be released. 

Read


Market Recap: Pending Home Sales Up, Construction Spending Down, and the ADP Employment Report

  • August 04, 2017

Mortgage rates edged downward this week. The pending home sales index turned around this month, but total construction spending dropped slightly.  The ADP employment report was positive but below expectations. 

Read


Market Forecast: Pending Home Sales Index, Construction Spending, and ADP Employment

  • July 31, 2017

Mortgage rates did not move much last week.  There were mixed housing numbers with a decline in existing home sales and an increase in new home sales.  This week, the pending home sales index comes out on Monday, US construction spending comes out Tuesday, and the ADP employment report comes out on Wednesday. 

Read


Market Recap: Existing Home Sales Decline, New Home Sales Increase Slightly, Case-Shiller Home Price Index

  • July 28, 2017

Mortgage rates ticked back upwards this week, though there are no significant changes to report.  Existing home sales declined after last month’s positive numbers.  The S&P CoreLogic Case-Shiller home price index continues to improve.  New home sales increased, only slightly.

Read


Window Coverings Can Cut Utility Costs

  • July 26, 2017

With record heat waves rolling in, air conditioners across the country are working overtime.  The Department of Energy (DOE) reports that the right window treatments can reduce home heat gain by up to 77%.  Outdoor additions like awnings, or indoor curtains and drapes can reduce utility costs and lower inside temperatures. 

Read


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

  • July 24, 2017

Mortgage rates trended downward last week.  There are numerous housing reports scheduled for this week, including last month’s existing home sales and new home sales reports, and May’s Case-Shiller home price index.  Last week’s reports showed positive gains in mortgage applications filed, housing starts, and building permits issues.  This week’s reports will reflect whether or not that momentum persists. 

Read


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.

Read


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. 

Read


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.

Read


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. 

Read


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. 

Read


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.

Read


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.

Read


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). 

Read


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. 

Read


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.

Read


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.

Read


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.

Read


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.

Read


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


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.

Read


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.

Read


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


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.

Read


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.

Read


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. 

Read


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.

Read


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.

Read


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. 

Read


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. 

Read


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.

Read


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.

Read


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.

Read


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.

Read


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.

Read


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.

Read


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.

Read


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. 

Read


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.

Read


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.

Read


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.

Read


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


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.

Read


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.

Read


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. 

Read


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. 

Read


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.

Read


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.

Read


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.

Read


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. 

Read


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. 

Read


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.

Read


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.

Read


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.  

Read


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. 

Read


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.

Read


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.

Read


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.

Read


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. 

Read


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.

Read


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.

Read


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


Latest Tweets

© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage Inc. is an equal opportunity lender, licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025. Offer of credit is subject to credit approval. For more information on our company, please visit www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and www.nmlsconsumeraccess.org.