MORTGAGE BLOG

2025 Housing Trends: How to Financially Prepare for the Market Shifts Ahead

Blog posted On December 20, 2024

Now that 2025 is nearly upon us, it’s time to take a look at predictions for the next year, especially concerning the housing market and how it affects buyers. We’d also like to share some financial tips on how best to prepare for potential market shifts on the horizon. We want to help set you up for home buying success in the new year!

Mortgage Rate Projections: Two Paths Forward or Uncharted Territory?

Blog posted On December 20, 2024

By Contributing Author Anthony Grasst, VP National Builder Division

Mortgage rates have been a big topic lately, and it’s no wonder why. One of the most common questions I hear is, “When will mortgage rates come down?” Rates are important, but they’re just one piece of the affordability puzzle. Buyers are also struggling with high home prices and tighter cash flow caused by inflation. These factors together are squeezing affordability, and buyers are eager for solutions. It’s the kind of question that directly impacts how you approach buyers in today’s market.

I usually answer this question by offering two potential paths. Here are two paths forward based on a recent economic forecast from FHN Financial.

CMG Financial Celebrates Two Leaders Recognized in This Year’s 40 Under 40 List

News posted On December 17, 2024

SAN RAMON, CA – CMG Financial, a well-established and privately held lender headquartered in San Ramon, CA, proudly celebrates the recognition of two of its outstanding leaders in this year’s 40 Under 40 list by National Mortgage Professional. Gianina Rosenblatt, SVP of Corporate Operations, and Kelly Deaton, VP of Marketing, were both honored for their exceptional contributions to CMG and the industry at large.

What the Rising Age of First-Time Home Buyers Means for the Real Estate Market

Blog posted On December 13, 2024

According to the National Association of Realtors’ 2024 Profile of Home Buyers and Sellers report, the average age of first-time home buyers has reached 38 years old, a jump from the year prior (35 last year). Let’s decode some of the reasons the median age has jumped up and how this statistic affects the current state of the real estate market.

The Importance of an Emergency Fund When Planning on Buying a Home

Blog posted On December 05, 2024

If you’re looking to buy a home, do you have an emergency fund? And if you’re like many prospective first-time home buyers, this question may have sent a chill of anxiety down your spine. You’re not alone. This is a big financial regret for Gen Zers and Millennials; according to CNBC, “not saving enough for emergencies ranks at the top of their lists.” But don’t worry! We’re here to provide you with helpful information about emergency funds and calm any homeowning anxieties you may have, ensuring that your homeownership journey is a successful one.

Cozy Up Your Home: 6 Trends for Winter 2024

Blog posted On November 21, 2024

A crackling fireplace, the whole family gathered cozily in the living room after a night of feasting, scattered wrapping paper blanketing your throw rugs and cream carpets: does this fit your vision of a perfect home for the holidays? With a few thoughtful touches, any room can be turned into a comforting space this winter. Let’s take a leisurely tour through some of the most inviting home trends this season, setting you and your family up for success when the cold sets in.

What the Election Means for the Housing Market and Mortgage Rates

Blog posted On November 14, 2024

The upcoming administration turnover is raising a lot of questions and concerns about the future of the economy, housing industry, and mortgage rates. Though nothing is set in stone, there are some predictions about what could happen in coming years. Here are some of the major concerns and potential outcomes.

Mortgage Rates Spike: Affordability Strains, But Opportunities Remain

Blog posted On November 08, 2024

Market Update: With rates now averaging 7.13%, buyers face higher costs while builders navigate an affordability crunch. Here’s how we can turn these challenges into sales opportunities.

Mortgage rates increased to 7.13% after the election, a jump that highlights the financial pressures impacting buyers and builders alike. The recent rise in rates reflects broader economic trends, including inflation concerns and Treasury yield shifts, which have kept rates elevated. This high-rate environment is dampening buyer affordability and weighing on builders, with monthly payments on a $400,000 home now up 11% since early September.

Two CMG Leaders Recognized as 2024 HousingWire Tech Trendsetters

News posted On November 01, 2024

SAN RAMON, CA – CMG Financial, a well-capitalized and privately held mortgage banking firm based in San Ramon, CA, announced today that two of its executive leaders were named 2024 HousingWire Tech Trendsetters. This is the second time that Chief Strategy Officer, Paul Akinmade, has been recognized as a Tech Trendsetter. This is the inaugural Tech Trendsetter recognition for Courtney Thompson, EVP, Head of Servicing.

Are Sellers Pulling Back? Examining Recent Inventory Challenges

Blog posted On October 31, 2024

Is it true that some sellers are throwing in the towel? Due to the rising mortgage rates of last year and this year, the percentage of price cuts for homes have risen. Along with the price-cut increase, listings are also receding, which has led to this surge of sellers calling it quits. Thankfully, there are loan programs out there that can benefit sellers and buyers alike.

Homeowners Are Cashing In: Exploring the Recent Home Equity Boom

Blog posted On October 24, 2024

Recently, growing numbers of homeowners have been taking advantage of their home equity. Due to home values soaring, many are starting to understand the importance of dipping into the equity they’ve built up over the years.

Is Now the Right Time to Refinance?

Blog posted On October 17, 2024

If you’re a homeowner, you’ve likely been paying attention to the news, waiting for any positive shifts in the housing market. And with the Fed’s recent benchmark rate drop, you’re probably wondering, is now the right time to refinance? Let’s help you figure out when a refi could make the most financial sense for you to pursue and when to hold off and evaluate your other options.

Navigating the Challenges of Selling in a Shifting Market

Blog posted On October 10, 2024

In today’s real estate market, selling a home can feel like an uphill battle, especially when faced with fluctuating interest rates and a variety of buyer circumstances. Some sellers find themselves waiting months to secure an offer, while others are challenged by unpredictable bids and shifting buyer demand. As the market continues to change throughout the fall, here are some factors that could help sellers and some ways they can improve their listing’s success.

A Bountiful Autumn: What to Expect with Seasonal Mortgage Trends

Blog posted On October 04, 2024

The end of summer heralded a shift in the real estate market. The recent Fed rate cut announcement caused ripples throughout the industry, cutting the benchmark interest rate by 0.5%. Home buyers and real estate professionals alike have been celebrating as this announcement marked the first rate reduction in four years. After a languid summer and a dragging housing market, this economic shift has aligned perfectly with the changing season. Autumn has now been injected with buying energy, and potential home buyers may finally feel ready to leap off the sidelines into the golden leaves of homeowning.

CMG Home Loans Announces the Opening of New Tampa Branch

News posted On October 03, 2024

Tampa, FL – CMG Home Loans, the retail arm of the well-capitalized and privately held mortgage lender, CMG Financial, announced today the opening of a new branch in Tampa, FL. Leading the Tampa location is Branch Manager Chris Smith (NMLS ID# 69879).

CMG Home Loans Welcomes Josh Allyn, Area Sales Manager

News posted On October 01, 2024

The Woodlands, TX – CMG Home Loans, the retail division of well-capitalized privately held mortgage lender, CMG Financial, announced today the hire of Area Sales Manager, Josh Allyn (NMLS# 213245). Allyn, a passionate mortgage expert with nearly 20 years of experience in the industry, will be bringing his commitment to excellence and personalized client solutions to the Houston area.

CMG Financial Raises Conforming Loan Limits to $802,650 ahead of FHFA’s Increase

Blog posted On September 27, 2024

CMG Financial has increased its agency conforming loan limits to $802,640, a 4.71% increase from this past year’s limits. Though the Federal Housing Finance Agency (FHFA) has not officially announced the new conforming loan limits, CMG wanted to give home buyers early access in an effort to ease some of their affordability challenges.

Fall Into Comfort: 5 Ways to Cozy Up Your Home

Blog posted On September 26, 2024

As the air turns crisp and leaves begin to fall, it's time to embrace the warmth of autumn at home. This season brings a unique opportunity to refresh your living space, making it a safe space for comfort and relaxation. Here are five easy ways to transition your decor for the cozy months ahead:

How Falling Interest Rates Could Reignite the Housing Market

Blog posted On September 20, 2024

With mortgage rates tumbling to their lowest levels in recent times, priced-out potential home buyers may start to hope again. Due to the recent lower-trending rates, refinance applications jumped starting in August. Now, with the Fed beginning its long-awaited rate cuts, home buyers could be in luck in the coming months.

Market Update: Fed Cuts Benchmark Interest Rate by 0.5%, Marking the First Reduction in Four Years

Blog posted On September 18, 2024

This afternoon, the Federal Open Market Committee (FOMC) voted to cut the benchmark interest rate by 0.5%. The cut comes as welcome relief to consumers after 2.5 years of rate increases.

Why Lower Interest Rates Won’t Solve the Affordability Challenge for Home Buyers

Blog posted On September 13, 2024

Mortgage rates may have come down slightly, but affordability remains a significant challenge for home buyers, particularly as home prices continue to climb. Typically, rising rates cause home prices to cool, however the current market is anything but typical. The latest U.S. National Home Price Index from S&P CoreLogic and Case-Shiller shows that home prices reached record highs in June, despite rising interest rates.

CMG Financial Celebrates 7 Years of HomeFundIt™ with Over $700 Million of Real Estate Purchased

News posted On September 13, 2024

San Ramon, CA – CMG Financial, a leading privately-held mortgage banking firm, is commemorating seven years since the launch of HomeFundIt™, the nation’s first and only down payment gifting platform. Since 2017, HomeFundIt has helped over 2,500 families purchase a collective $700 million in real estate.

How Pets Are Shaping Home Buying and Renovation Decisions

Blog posted On September 12, 2024

Pets are becoming a significant factor in home buying and renovation decisions. With over 66% of households including at least one pet, buyers are increasingly prioritizing pet-friendly features when choosing homes and making renovations.

CMG Home Loans Welcomes Corey McGuire, Area Sales Manager (NMLS ID# 258143)

News posted On September 10, 2024

BOZEMAN, MT – CMG Home Loans, the retail division of well-capitalized privately held mortgage banking firm, CMG Financial, announced today the hire of Area Sales Manager, Corey McGuire. A skilled mortgage professional, McGuire has formidably grown purchase share in the Montana region, leading successful teams for over 25 years.

Down Payment Costs Rise by 15% Annually: Here’s How to Keep Yours Low

Blog posted On September 06, 2024

According to Redfin, home buyers are now putting down an average of $67,000, which marks a nearly 15% increase compared to a year ago. This put the typical home buyer’s down payment at a whopping 18.6% of the purchase price, the highest level in over ten years. With this recent surge, prospective homeowners, realtors, and lenders alike are all wondering what this means for the future. And how can we still succeed in the home buying market despite record highs?