Latest News Category: News

Last Week in Review: Geopolitical headlines moved the markets. May job growth beat expectations. The Bureau of Labor Statistics reported that Non-Farm Payrolls rose 223,000 in May, above expectations and up from 159,000 in April. April and March were revised for an increased total of 15,000 more jobs than previously reported. May Average Hourly Earnings […]

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Effective May 30, 2018, Carrington Mortgage Services, LLC (CMS) will offer improved loan level pricing for the Near-Prime and Non-Prime Loan programs. The matrices below list the amounts of the applicable Loan Level Price Adjustment improvements by FICO and LTV. Refer to the CMS Rate Sheets for the latest pricing. Near Prime Non-Prime [btn link="https://carringtonhomeloans.com/drop-in/CMSWholesaleRates.pdf" […]

Last Week in Review: Housing Starts stall in April, while registers were ringing at retailers. Retail Sales rose 0.3 percent from March to April, the Commerce Department reported, with sales highest at furniture stores, clothing stores and gasoline stations. On a year-over-year basis, Retail Sales jumped a solid 4.7 percent. The Retail Sales report is […]

The Lock Desk will be closed on Monday, May 28, 2018 for Memorial Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, May 29, 2018. Additionally, the Lock Desk will close early on Friday, May 25, 2018 at 10:00 A.M. PST due to the early close of the financial markets. Locks […]

Last Week in Review: Consumer and wholesale inflation were tame in April, while geopolitical events also made headlines. The Consumer Price Index (CPI) rose 0.2 percent in April, just below expectations, the Bureau of Labor Statistics reported. This was down from the 2018 high of 0.5 percent recorded in January. The numbers revealed an uptick […]

Last Week in Review: The April Jobs Report disappointed while inflation ticked up in March. Plus, the Fed met. The Jobs Report for April was a bit of a disappointment, as job creation rose from March but came in below expectations. There were 164,000 new jobs added in April, below the 190,000 expected, the Bureau […]

Overview Effective May 3, 2018 Carrington Mortgage Services, LLC (CMS) will introduce a new Near-Prime Product to broaden our commitment to serving the underserved borrower! The Near-Prime product is well suited for borrowers who may have credit challenges but need pricing that is closer to prime rates. The program features Fixed and Adjustable Rate loan […]

Last Week in Review: Home sales increased in March, though inventory remains a challenge. First quarter GDP fell but beat expectations. March Existing Home Sales rose 1.1 percent from February to an annual rate of 5.60 million units, the National Association of REALTORS® reported. However, sales were down 1.2 percent from March 2017 due in […]

Last Week in Review: Retail Sales and Housing Starts blossom in March. Retail Sales rose 0.6 percent in March, above the 0.4 percent expected and up from the decline of 0.1 percent in February, the Commerce Department reported. Leading the boost was spending on automobiles and health and personal care items. Consumer spending makes up […]