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After a multi-month decline in interest rates, we are seeing positive momentum in housing emerge. Let's look at some of the numbers from last week and highlight events to watch for in the weeks ahead. Spring in January? Not quite, but we have seen an uptick in inventory and mortgage applications over the last couple […]

Overview Due to Hurricane Idalia in Florida, FEMA has declared the following counties a disaster. Update: Additional counties have been added (shown in bold) and the Incident Period End Date has been established. Incident Period: August 27, 2023 – September 4, 2023 State FEMA Disaster Declaration Counties Florida August 31, 2023 Citrus, Columbia, Dixie, Gilchrist, […]

Financial markets started off the new year on the wrong foot, and interest rates inched higher. Let's discuss what happened and look at next week's events. Fed Minutes Released On Wednesday, the minutes from the December Fed meeting from two weeks ago were released. Overall, the minutes amplified Fed Chair Jerome Powell's take, "The Fed" […]

Overview The offices of Carrington Mortgage Services, LLC (CMS) including the Lock Desk will be closed on Monday, January 15, 2024 for Martin Luther King Jr. Day, which is a Federal Holiday. Normal lock hours will resume on Tuesday, January 16, 2024. Rate Locks that expire on the holiday will automatically roll to the next […]

Overview Due to severe storms and tornadoes in Tennessee, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: December 9, 2023 State FEMA Disaster Declaration Counties Tennessee 12/13/2023 Cheatham, Davidson, Dickson, Gibson, Montgomery, Stewart and Sumner Re-Inspection by Product Type If your loan is … A re-inspection is […]

Home loan rates have improved once again finishing the year at the best levels since May. Let’s look at what happened in the final trading week of the year and discuss what to watch as the new year begins. 3.83% The 10-year Note continues to hover near 3.83%, exactly where 2023 began. But as we […]

The "Santa Claus Rally" in stocks is an often-discussed phenomena in the markets, but it was the bond market that has displayed some holiday cheer this year. Let's discuss what happened last week and look into the final trading days of the year. Crazy 8's In late October 30-yr mortgage rates hit 8%; the highest […]

Overview Due to severe storms and tornadoes in Tennessee, FEMA has declared the following counties a disaster. Incident Period: December 9, 2023 State FEMA Disaster Declaration Counties Tennessee 12/13/2023 Davidson, Dickson, Montgomery and Sumner Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … FHA Full Doc […]

This past week the good vibes in the financial markets continued. Interest rates hit their best levels since the Summer and continued their historic run lower. Let's discuss what happened and look at the week ahead. Winning Streak Extends to Six Through late October, we were experiencing one of the worst bond market/interest rate trends […]

Overview During the 2023 holiday season Carrington Mortgage Services, LLC (CMS) offices, including the Lock Desk, will observe the following schedule: Monday, December 25, 2023 – closed for the Christmas holiday Monday, January 1, 2024 – closed for New Year’s Day holiday Normal Lock Desk hours will resume December 26, 2023 and January 2, 2024. […]