Latest News

Big Rate Reduction + Drastic Reduction in LLPAs Effective immediately, Carrington Mortgage has improved pricing and reduced LLPAs on FHA and VA products. In these ever-changing times, you can count on Carrington to consistently help drive your success. Carrington. Your one "constant" for... Options for FICOs as low as 500 Manual underwriting expertise Financing manufactured […]

Last Week in Review: Is This the Bottom? Home loan rates continue to hover near all-time lows, but there are three reasons why they should have improved but didn’t. Let’s take a look at some of the “Bond-friendly” news from this week that was unable to push mortgage-backed security (MBS) prices higher and home loan rates […]

Last Week in Review: Stabilization in the MBS Market One of the major effects of the coronavirus was the enormous destabilization of the mortgage-backed securities (MBS) market back in mid-March. MBS pricing and trading activity determine home loan rates, so a big and fast solution was necessary. Thankfully, the Federal Reserve quickly came to the rescue […]

Last Week in Review: The Unemployment Line is Growing The leading indicator on the health of the job market is the Initial Jobless Claims report, which essentially tells us the length of the unemployment line. And that line just grew. Over the past four weeks, approximately 22 million people have filed for unemployment benefits, erasing nearly […]

Last Week in Review: Coronavirus Fallout to Hit Homeowners The Coronavirus has impacted millions of Americans across the country due to job loss and furloughs making it difficult, and sometimes impossible, for homeowners to make their mortgage payments. The U.S. government has stepped in to offer homeowners financial relief during this unprecedented time with the Coronavirus […]

Last Week in Review: Liquidity Defined This past week, thanks to the Federal Reserve, home loan rates declined. The high uncertainty around the coronavirus and its impact on homeowners and mortgage payments created a dire need for liquidity in the mortgage-backed security (MBS) market. This is where the Fed came to the rescue by providing liquidity. […]

Last Week in Review: Home Loan Rates Rising This past week, home loan rates ticked up again despite the Fed recently cutting rates by a full point and the 10-year Note remaining just above 1%. Why? Mortgage backed securities (MBS) are Bonds that price home loan rates. This week, the spread or difference in yield between […]

Last Week in Review: Rate Movements Explained This past week was a head-scratcher as home loan ticked up slightly week over week despite the 10-year Note yield hitting a historic low of 0.31% and Stocks enduring heavy losses. Typically, when Stocks drop, so do rates — especially after historic Stock losses like those this past week. […]

Last Week in Review: How Low Can Rates Go? Home loan rates touched all-time lows this past week, fueling refinance activity and creating a sense of urgency for homebuyers to lock in purchase loans. The question many people are asking is, "how low can rates go?" The short answer -- no one knows. A lot […]

Last Week in Review: The Lowest Rates EVER Bonds love bad news, uncertainty, and fear, which is causing rates to move lower. This past week, the escalation of the coronavirus fears caused enough anxiety to push rates down to the lowest levels in U.S. history. Here's what we know: Mortgage Bonds, which determine loan pricing, ticked […]