Latest News Author: Vanessa Naso

The housing market remained stable this week, although affordability remains a problem; mortgage applications decreased; existing home sales slipped 5.4 percent; housing inventory continues to grow, although nearly two-thirds of homes on the market had been listed for at least 30 days without going under contract; 56,000 home purchases were canceled last month and home […]

This week saw an increase in mortgage applications; national house price growth slowed for the sixth consecutive month; foreclosure filings decreased in Q1; home prices show signs of slowing down; the market remains in a holding pattern and builder confidence has fallen slightly. June New Home Purchase Mortgage Applications Increased 0.7 Percent Mortgage Bankers Association - […]

This week saw a decrease in mortgage applications; homebuyer sentiment is on the rise; homeownership became less affordable in Q2; the number of homes actively for sale was notably higher compared with last year; and housing inflation remains stubbornly high.   Mortgage Applications Decrease in Latest MBA Weekly Survey Mortgage Bankers Association - 7/10/2024 Mortgage applications […]

Overview Due to severe storms, flooding, straight-line winds and tornadoes in Iowa, FEMA has declared the following county a disaster. Incident Period: June 16, 2024 and continuing State FEMA Disaster Declaration Counties Iowa 06/24/2024 Clay, Emmet, Lyon, Plymouth and Sioux Re-Inspection by Product Type If your loan is … A re-inspection is required … Under […]

This past week interest rates moved lower, approaching levels last seen in March. Let's discuss why and look into the week ahead. One or Two? At the recent Fed meeting, the big surprise was Fed Chair Powell suggesting there would no longer be a rate cut in 2024, two less than previous forecasts just three […]

Overview The offices of Carrington Mortgage Services, LLC (CMS), including the Lock Desk, will be closed Thursday, July 4, 2024 for Independence Day, which is a Federal Holiday. In addition, all CMS offices, including the Lock Desk, will also be closed on Friday, July 5, 2024 for a company holiday. Normal lock desk hours will […]

Overview The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk, will be closed on Wednesday, June 19, 2024 for Juneteenth National Independence Day, which is a Federal Holiday. Normal lock hours will resume on Thursday, June 20, 2024. Rate locks that expire on the holiday will automatically roll to the next business […]

This past week the Federal Reserve decided not to cut rates and shared their updated forecast on the economy. Let's discuss what was said and what's ahead for the upcoming week. Higher for Longer Continues The Federal Reserve met last Wednesday and once again decided to make no change to interest rates. The markets widely […]

Interest rates dropped to the lowest levels in the last two months. Let's discuss why and what's next. Economic Deceleration In the past couple of weeks, there have been many economic readings revealing that the economy is slowing. Our gross domestic product (GDP) for the first quarter was revised lower to 1.3%. Coming on the […]

This past week interest rates moved sharply higher in response to a host of unfriendly bond news. Let's discuss what happened and what to watch for in the weeks ahead. We Need More Revenue This past week was shortened due to the Memorial Day holiday, but it was filled with tall problems which caused rates […]