Mike Lesmeister - CMG Financial - Houston, Texas

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Mortgage and Lending - CMG Financial - NMLS Lic. No. 194146
  Historically, mortgage rates have closely followed the stock market movements.  The NASDAQ charts are very well correlated with mortgage bond daily pricing which, in turn, dictates your mortgage rates.  In theory, when stock prices rise inflation is at hand and mortgage rates increase.  Convers...
Reposting an article written by my partner: Hurricanes, fires, floods – all of these catastrophes can occur in the Houston, Texas area. You need to make sure that you are prepared… Natural disasters are an inevitable part of life, and we need to be as ready as we can. Recent wildfires, droughts, ...
The lesser of two evils is giving homeowners another clear shot at refinancing to a lower rate, a shorter term, or both.  The two evils are: the impending US budget crisis which, if the debt ceiling isn’t increased by August 2nd, will threaten to cause the government to default on credit obligat...
The U.S. Department of Housing and Urban Development has announced new income limits for Fiscal Year 2011.  These income limits affect qualification for most First Time Homebuyer, Down Payment Assistance, and Mortgage Credit Certificate programs available throughout the state. As an example, the...
We knew there was a reason so many of us tolerated this crazy weather! HousingWire Article about Houston Real Estate
  This article regarding reverse mortgages was found on the AARP website, and it is definitely pertinent to anyone who is considering a Texas Reverse Mortgage/HECM. At Home Loan Specialists, we DO originate reverse mortgages, so please contact us if you feel a Texas Reverse Mortgage might be righ...
  Average rates for the benchmark 30-year fixed mortgage as reported by Freddie Mac stood at 4.60% this week, up .09% from the previous week. The average for the 15-year fixed amortization equaled 3.75%, up .06% on the week. The only relevant news came with this morning’s deeply disturbing unempl...
  Mortgage rates continued their unprecedented volatility today.  In the morning, rates continued to increase as mortgage bond prices fell 48 bps.  At midday prices began to improve and rates were revised slightly better in the afternoon.  Our advice is to stay on the sidelines (read float) until...
  The tenuous political and economic balance in Greece and other heavily leveraged European countries has suddenly rocked the mortgage bond markets this week.  The US Treasury auctions held Monday and Tuesday were met with abject disdain. Buyers were virtually non-existent.   Bonds traded 62 bps ...
Average rates for the benchmark 30-year fixed mortgage - as reported by Freddie Mac - stood at 4.50% this week, unchanged from the previous week. The average for the 15-year fixed amortization equaled 3.69%, up .02% on the week. This week the European Union and the International Monetary Fund an...


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