Latest News Author: Jordan Reed

Last Week in Review: Markets do the Safety Dance Last week's long-term rates and home loans rates touched the lowest levels since early February mainly due to rising concerns over the Delta variant of COVID causing more restrictions, shutdowns, and a slowing economy in the future. Let's talk about what this "safe-haven" trade into the […]

Last Week in Review: Powell Showers the Bond Market with Love This past week long-term interest rates spiked higher in response to a hotter-than-expected consumer inflation print only to come back down in response to soothing words from Federal Reserve Chairman Jerome Powell. Let us break down what happened and what to look for in […]

Last Week in Review: Less Equals More for Rates This past week long-term interest rates fell to their lowest levels since mid-February. Let us go through some reasons why rates declined and what it means for the second half of 2021. From More to Less The great reopening of the U.S. economy appears to be […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Friday, July 2, 2021 for a Company Holiday and also Monday, July 5, 2021 for Independence Day, which is the observed Federal Holiday. Normal lock hours will resume on Tuesday, July 6, 2021. Locks that expire on the holiday will automatically roll to […]

Last Week in Review: Powell Soothes the Markets This past week home loan rates improved slightly as Fed Chair Jerome Powell was on Capitol Hill sharing the Fed's midyear economic outlook. Let us break down what the Fed Chair said, since his words also pushed stocks higher with the NASDAQ reaching all-time highs. "Long Way […]

Overview The U.S. Department of Housing and Urban Development (HUD) has updated the payment calculation of monthly obligation for student loans. The change is effective for all case numbers assigned on or after August 16, 2021; however, Carrington Mortgage Services, LLC (CMS) has elected to begin using the new guidance effective immediately. The change applies […]

Last Week in Review: The Fed Prepares the Markets for Liftoff This past week the Federal Reserve had their June meeting and prepared the markets for liftoff, meaning when they would hike rates in the future. The initial bond market reaction was negative with both home loan rates and long-term Treasury rates moving higher. Let us break […]

Last Week in Review: Inflation, Fed, and the Wall This past week, home loan rates were improving slightly week-over-week until their arch-nemesis, inflation, reared its head. Let us break it all down and talk about what it means for you and your clients. Consumer Inflation and Looking Ahead On Thursday, the May Consumer Price Index […]

Last Week in Review: Real Rates and When the Music Stops This past week, home loan rates ticked up slightly but remain near three-month lows. Despite historically low rates, mortgage applications ticked down for the second consecutive week as tight inventory and rapidly rising home prices weighed on purchase activity. Opportunity Is Knocking Mortgage and […]

Last Week in Review: What Goes Up Must Come Down This past week home loan rates held steady despite enormous volatility in the financial markets. Let's break down what happened and look at what to watch for in the week ahead. Wacky Wednesday A "risk-off" trade is when investors sell risky assets like stocks and […]