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Last Week in Review: Inflation – The Problem and Opportunity This past week we watched stocks and rates move higher with the former hitting all-time highs and the 10-year yield crossing above 1.00% for the first time since March. At the same time, mortgage-backed securities (MBS) traded lower, causing home loan rates to tick up […]

Overview Effective February 1, 2021, Carrington Mortgage Services, LLC (CMS) will discontinue offering FHA 203k (Standard and Limited) loans through our Wholesale Channel.  Brokers must submit all 203k loans prior to the February 1, 2021.  All approved 203k loans in the active pipeline will be honored and can close as expected. Contacts Please contact your […]

Last Week in Review: The Fed and the Unsaid Last week stocks climbed to all-time highs, and rates were able to hold steady near all-time lows. The big news of the week was the Fed Meeting. It is important to follow Fed activities as they are the most powerful central bank on the planet, and […]

Overview Carrington Mortgage Services, LLC (CMS) is pleased to announce effective Thursday, December 17, 2020; CMS will implement the following Carrington Advantage (Prime Advantage, Flexible Advantage Plus, Flexible Advantage, and Investor Advantage) product underwriting updates (highlighted in blue).  Please note this is an abbreviated summary of the guideline changes. For additional information, please review the […]

Overview During the holiday season the Carrington Mortgage Services, LLC (CMS) Lock Desk, will observe the following schedule: Thursday, December 24, 2020 – Closed for Christmas Eve Friday, December 25, 2020 – Closed for the Christmas holiday Thursday, December 31, 2020 – Close early for New Year’s Eve at 11:00 AM PST (early market closure […]

Last Week in Review: To Stimulate or Not to Stimulate Last week, a few market-moving events caused turbulence in the financial markets. Stocks and rates bounced up and down before heading into the weekend at elevated levels. The Dow Jones Industrial Average hovers near 30,000 and the 10-Year Note Yield near 1.00%. Here are three […]

Last Week in Review: Three Market Movers This Past Week 1) Stimulus Talks Are Back The big news this past week was the renewed stimulus talks and the "chance" that we may see a $900 billion stimulus bill included in the government funding package this month. Up until now, both political parties have been unable […]

Last Week in Review: Tug-of-War at Play The Tug-of-War Continues Stocks, Bonds, and rates are responding to the tug-of-war playing out between vaccine hopes and the rise in COVID-19 cases, along with additional lockdowns. Pfizer was out this past week saying its vaccine has a 95% effectiveness rate. Moreover, the firm says they will have […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk, will be closed Thursday, November 26, 2020 in observance of Thanksgiving, which is a federal holiday and also Friday, November 27, 2020 which is a CMS company holiday.  Due to the holiday, the Lock Desk will be closing early on Wednesday, November 25, 2020 at 11:00 […]

Last Week in Review: Financial Markets Get Vaccinated The big news of last week was Pfizer's announcement that their vaccine was 90% effective against COVID-19. It also appears that some vaccines could be distributed before year-end. The market's response? "This is a gamechanger." Stocks soared to record highs and mortgage-backed securities and Treasuries prices fell […]