Latest News Category: News

You Asked … We Answered! With Expanded Carrington Flexible AdvantageSM Guidelines so you can expand your business! Carrington Mortgage Services, LLC (CMS) is pleased to announce the below guideline changes for the Investor Advantage, Carrington Flexible Advantage and Carrington Flexible Advantage Plus products. Guideline Improvements Updated the Maximum DTI from 43% to 50% on 12-month […]

Last Week in Review: No rate hikes in 2019. Who wins? Stocks continued to react positively to Fed Chair Powell's Jan 4th speech, where he essentially said, "we have your back"...meaning that the Fed will be flexible and may not raise rates at all in 2019.  There is an old saying in the financial markets - […]

Last Week in Review:Apple, Congress negate solid jobs numbers I-Phone maker, Apple, was a downer this week as the company announced a surprise weak sales and earnings forecast for the first quarter of 2019.  Stocks and interest rates fell on the bad news, concerned that Apple, the first big tech firm to report weak growth […]

Last Week in Review:Headline Risk Highlights Christmas Week. The financial markets had plenty to cheer about this week. On Wednesday, Stocks rallied a stunning 1,000+ points, enjoying their best one-day gain in history and then rallied over 800 points higher intraday on Thursday, erasing a huge midday loss. All in all, a great and welcome […]

Last Week in Review:Spring rates revisited. It was all about the Fed this past week. On Wednesday, they hiked the Fed Funds Rate by 25 basis points (0.25 percent). That rate affects short-term loans like auto and credit cards – what it doesn't affect are home loan rates.  Home loan rates actually improved to the […]

Overview During the holiday season Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will observe the following schedule: Monday, December 24, 2018 – Closed for the Christmas holiday Tuesday, December 25, 2018 – Closed for the Christmas holiday Tuesday, January 1, 2019 – Closed for New Year’s Day holiday In addition, due to […]

As a Nation, we pause to mourn the passing of George Herbert Walker Bush, the forty-first President of the United States, on November 30, 2018. His storied life was filled with accomplishment. When he volunteered for duty in the Second World War, George Bush was the youngest aviator in the U.S. Navy. He flew 58 […]

  Overview The Carrington Mortgage Services (CMS) Lock Desk will be closed in observance of President George H.W. Bush’s death on Wednesday, December 5, 2018 which has been designated as a National Day of Mourning. The financial markets will be closed and no rate sheets will be produced and no rate locks will be allowed. […]

Last Week in Review: Soothing Words Helps Rates Improve We heard doves cry this week, when Fed Chairman Jerome Powell spoke in NYC on Wednesday. Doves are people who offer peaceful polices, so upon Mr. Powell's soothing speech both Stocks and Bonds moved nicely higher, with home loan rates hitting their best levels in nearly […]

Last Week in Review: Stocks crumble, yet rates go unchanged.   The old adage of "Stocks go down, Rates go down" didn't work this past week. Stocks started the week with the Dow Jones Industrial Average falling nearly 1,000 points through Tuesday. Typically, as Stocks decline, we see home loan rates improve as the investment […]