Latest News Archives

Overview Due to California Wildfires, FEMA has declared the following counties a disaster. Incident Period: September 4, 2020, and continuing State FEMA Disaster Declaration Counties California October 16, 2020 Fresno, Los Angeles, Madera, Mendocino, Napa, San Bernardino, San Diego, Shasta, Siskiyou and Sonoma Re-Inspection by Product Type If your loan is … A re-inspection is […]

Last Week in Review: Headed Back to the Future This past week, the U.S. 10-year Note yield, a proxy for long-term interest rates, climbed back above .80% for the first time since June.  At the same time, mortgage-backed security prices, which determine home loan rates, declined to their lowest level since July, pushing mortgage rates […]

Last Week in Review: Europe Pain is Bonds Gain U.S. Bond Market = Safe Haven Last week, investment dollars around the globe flooded into the U.S. Treasury market as a "safe haven" against growing uncertainty in Europe. Germany, France, and other European countries are seeing record levels of COVID-19 cases and have to decide on […]

Last Week in Review: Interest Rate Outlook - Three Things to Follow Three Things to Follow Home loan rates remain right at historic lows fueling unprecedented refinance activity and driving purchase demand. Many are asking: how long will the good times last? Could rates move another leg lower? What's next for rates? Here are three […]

Overview Due to severe storms in Iowa, FEMA has declared the following counties a disaster. Additional counties are shown in bold. Incident Period: August 10, 2020 State FEMA Disaster Declaration Counties Iowa August 17, 2020 Benton, Boone, Cedar, Clinton, Jasper, Linn, Marshall, Polk, Poweshiek, Scott, Story, and Tama Please note: If an appraisal was completed […]

Overview Due to Hurricane Sally in Florida, FEMA has declared the following counties a disaster. Incident Period: September 14, 2020 and continuing State FEMA Disaster Declaration Counties Florida September 23, 2020 Bay, Escambia, Okaloosa, Santa Rosa and Walton Please note: If an appraisal was completed prior to the incident date of the disaster, a re-inspection […]

Last Week in Review: Markets Enter the Great Unknown COVID-19 Hits the White House Last Friday morning, President Trump and the First Lady tested positive for COVID-19. The news shocked the financial markets around the globe, with global Stocks declining in response to the uncertainty. The news adds the potential for large market swings as […]

Overview The Carrington Mortgage Services, LLC (CMS) Lock Desk will be closed Monday, October 12, 2020 in observance of Columbus Day, which is a Federal Holiday. Normal Lock Desk hours will resume on Tuesday, October 13, 2020. Please note: CMS offices will be open for normal business hours on Monday, October 12, 2020; however, the […]

Last Week in Review: Uncertainty Takes Over the Markets Fiscal Stimulus Fiscal stimulus refers to policy measures undertaken by a government that typically reduce taxes or regulations and increase government spending in order to boost economic activity. This past week, both Fed Chair Powell and Treasury Secretary Mnuchin called for more "fiscal stimulus" to help […]

Last Week in Review: The Fed Spoke, the Markets Reacted Last Wednesday, the Federal Reserve issued its Monetary Policy Statement and held a press conference. An unofficial mandate for the Fed is to maintain "market calm" and not say anything to roil either Stocks or Bonds. Overall, the Fed statement and press conference were extremely […]