Latest News Category: News

Last Week in Review: A Great 2020 Housing Story Here's some good news... the continued strength of the labor market, along with historically low mortgage rates, will keep positive housing momentum alive in 2020. The Unemployment Rate is currently at a 50-year low of 3.6% with expectations for the index to push even lower to 3.25% by […]

Last Week in Review: What the Market Is Saying Home loan rates continue to hover right near three-year lows. There are many "smart" folks on Wall Street who say rates are going to push even lower at some point...and they may be right. But what if they're wrong? What if rates have bottomed for the foreseeable […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, February 17, 2020 for Presidents Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, February 18, 2020. Rate Locks that expire on the holiday will automatically roll to the next business day. In addition there are […]

Last Week in Review: Recovering From the Coronavirus This past week was a bit rough for the Bond market as home loan rates steadily ticked higher and off the best levels in three years. The coronavirus has been a tailwind to the Bond market and home loan rates for the past few weeks, but this week […]

Overview In the state of North Carolina, borrowers may be charged bona fide discount points for the purpose of reducing their interest rate. For Owner Occupied Loans with a balance of $300,000 or less, up to 2.25% (Agency products) or 0.25% (Non-agency products) may be charged as Discount Points under the North Carolina Max Fee […]

Last Week in Review: Home Loan Rates Decline Again The coronavirus outbreak in China continued to grip the financial markets this week. The total affected and number of deaths rose sharply throughout the week suggesting the virus is not yet contained. Stocks hate uncertainty and Bonds love uncertainty. As a result, Bonds traded higher to their […]

Overview The Lock Desk at Carrington Mortgage Services, LLC (CMS) will be closed on Monday, January 20, 2020 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 21, 2020. Rate Locks that expire on the holiday will automatically roll to the next business day.  In […]

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: 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 […]

Last Week in Review: Nice Start to 2020 The new year and new decade started, and good news, some things don't change. Stocks picked up right where they left off in 2019 by touching all-time highs. And Bonds, which also performed well in 2019, continue to hover near three-year highs, keeping home loan rates near 3-year […]

Last Week in Review: Global Improvement 2019 was an incredible year for Stocks, which finished the final trading week of the year at all-time highs. Generally speaking, when Stocks go higher, so do rates. And that was the case this past week as home loan rates ticked up to the highest levels in months. So, what […]