Last Week in Review: Fed vs. Recession Home loan rates finished this past week essentially where they began, near 3-year lows. With all the chatter of a global recession and elevated fears that the U.S. will slip into a recession thanks to the recent inverted yield curve, why haven't rates improved further? Is the Bond market […]
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The Carrington Mortgage Services, LLC - Wholesale Lending Division Lock Desk will be closed on Monday, September 2, 2019 for Labor Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, September 3, 2019. Additionally, the Lock Desk will close early on Friday, August 30, 2019 at 11:00 A.M. PST due to […]
Last Week in Review: Yield Curve Inversion Discussion This past week we watched Bond yields/interest rates decline around the globe on rising fears of a global recession. It's worth noting that home loan rates did not partake in the declining interest rate party this week as the Treasury market, not the Mortgage Backed Security market, received […]
Last Week in Review: Thinking Like an Investor This past week we watched home loan rates touch three-year lows as investors around the globe continue to seek the safe haven of the U.S. dollar. Why are global investors moving money into the U.S. dollar and safe instruments like U.S. Bonds? Due to the lingering uncertainty behind […]
Last Week in Review: First Fed Rate Cut in 10 years This past week the Federal Reserve (Fed) cut the Fed Funds Rate by .25% to 2.25%, the first rate cut in 10 years. Many consumers are wondering why home loan rates haven't declined by .25% in tandem with the Fed action. Let's break down […]
Last Week in Review: Indecision Ahead of Huge News Week The U.S. Bond market traded in a tight sideways range, leaving home loan rates essentially at unchanged levels week over week. However, the technical picture reveals Bond market indecision as prices trade near the best levels of the year. Why the indecision? The financial markets are […]
Last Week in Review: Summer Sideways Trend Continues This past week had little economic data for the financial markets to react to. As a result, home loan rates have inched higher though they remain near multi-year lows. It's pretty easy to see the sideways trend in mortgage Bonds and the reason why home loans have […]
Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Monday, July 15, 2019, the Carrington Advantage (Flexible Advantage/Advantage Plus and Investor Advantage) programs will offer a new Interest-only product option. Interest-Only loans offer borrowers lower monthly payments by allowing borrowers to pay only the interest during the 10 year interest-only period. Once the […]
Last Week in Review: Goldilocks Scenario for Housing Continues... The housing market is enjoying a great 2019 and the good times are poised to continue. We are seeing home price gains slow to a healthier level and at an equilibrium with wage growth. Consumer and business confidence remain at multi-decade highs, unemployment rates are at 51-year […]
This past week financial markets around the globe traded in a bit of a calm sideways pattern ahead of arguably the most important economic event of 2019 -- the US/China trade talks at the G20 meeting. Depending on when you read this newsletter, the headlines may already be out as talks between President Trump and […]