Skip to Main Content
Carrington Mortgage Services, LLC
Skip to Main Content

The Good News Flow Continues

January 13, 2020

Last Week in Review: The Good News Flow Continues

This past week, we watched home loan rates tick modestly higher and retreat from three-year lows.
Why?
There are three main reasons:

  1. U.S and Iran. On Wednesday, the de-escalation of tensions between the U.S. and Iran brought an immediate sense of calm to the financial markets. As a result, Stocks traded to all-time highs at the expense of Bonds and home loan rates.
  2. Jobs, jobs, jobs. Both the ADP and Jobs Report showed continued health in the labor market. The positive data is good news for the economy and good news for housing. Bonds hate good news, so rates ticked up.
  3. Improvement in Europe. Germany reported surprisingly stronger economic data, suggesting their economy is on the mend. In response to the good news, German rates ticked higher this week while putting upward pressure on our rates.

Bottom line: home loan rates are within a whisker of the best in three years and near the lowest in the history of our country. Coupled with a strong consumer and housing backdrop, this makes it an incredible time to either purchase or refinance a home.

CAREERSINVESTORSABOUT USCORRESPONDENT

Equal Housing Opportunity An Equal Housing Opportunity Lender. Copyright 2007 - 2024 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines.  Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.com.

The content of this website is intended for licensed third-party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services, LLC is one of the leading wholesale mortgage lenders.

Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram