Latest News Author: Jordan Reed

Overview Due to severe storms, straight line winds and tornadoes in Alabama, FEMA has declared the following counties a disaster. Incident Period: January 12, 2023 State FEMA Disaster Declaration Counties Alabama 1/15/23 Autauga and Dallas Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA Full […]

Overview Due to severe weather in Georgia, FEMA has declared the following counties a disaster. Incident Period: January 12, 2023 State FEMA Disaster Declaration Counties Georgia 1/16/23 Butts, Henry, Jasper, Meriwether, Newton, Spalding and Troup Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA Full […]

Overview Due to severe winter storms, flooding, landslide and mudslides in California, FEMA has declared the following counties a disaster. Incident Period: December 27, 2022 and Continuing State FEMA Disaster Declaration Counties California 1/14/2023 Merced, Sacramento and Santa Cruz Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these […]

Last Week in Review: Inflation Declines Again Home loan rates held steady near the best levels in months after another decline in inflation. Let's look at what happened this past week and brace for what is coming in the week ahead. December Consumer Price Index (CPI) The headline Consumer Price Index, which includes food and […]

Last Week in Review: New Year, New Outlook The first few trading days of 2023 saw an improvement in rates. Let's look at what happened this past week and brace for what is coming in the week ahead. Lower Than Last Year Long-term interest rates started the year moving lower, with both mortgage-backed securities (where […]

Overview The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk will be closed on Monday, January 16, 2023 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 17, 2023. Rate Locks that expire on the holiday will automatically roll to the next […]

Last Week in Review: Market Themes as We Enter 2023 Home loan rates crept higher in the final week of 2022. Let's look at some themes that should bode well for housing in 2023. Inflation Has Peaked One of the biggest economic stories in the U.S. was seeing inflation hit the highest levels in over […]

Last Week in Review: Shrugging off BOJ Surprise Home loan rates held steady near 3-month lows despite a negative surprise from the Bank of Japan. Let's discuss what happened and look into this week. BOJ Surprise Earlier this week, the Bank of Japan (BOJ) unexpectedly allowed its 10-yr government bond rates to rise. This sounds […]

Last Week in Review: Fed Raises Rates and Home Loan Rates Improve This week, the Federal Reserve raised the Fed Funds Rate by .50%, the smallest hike in over 6 months, and in response, home loan rates improved. Let's discuss the seemingly odd market reaction and what to watch in the week ahead. "We've covered […]

Overview Due to Hurricane Nicole in Florida, FEMA has declared the following counties a disaster. Incident Period: November 7, 2022 – November 30, 2022 State FEMA Disaster Declaration Counties Florida December 13, 2022 Brevard, Flagler, Lake, Putnam, St. Johns and Volusia Re-Inspection by Product Type If your loan is … A re-inspection is required … […]