Latest News

This week, the Federal Reserve announced a half-point rate cut; mortgage rates continue to drop and housing starts are increasing; housing payments posted the biggest decline in four years; mortgage applications increased 4.4 percent; 2024 will close with the slowest pace of sales since 1995; and there’s a growing sense of optimism as we’re closing […]

Overview Due to Hurricane Francine in Louisiana, FEMA has declared the following parishes a disaster. Incident Period: September 9, 2024 - September 12, 2024 State FEMA Disaster Declaration Parishes Louisiana 09/16/2024 Ascension, Assumption, Lafourche, St. Charles, St. James, St. John the Baptist, St. Mary and Terrebonne Re-Inspection by Product Type If your loan is … […]

Overview Due to Hurricane Debby in Florida, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: August 1, 2024 – August 27, 2024 State FEMA Disaster Declaration Counties Florida 08/10/2024 Alachua, Baker, Citrus, Columbia, Dixie, Gilchrist, Hamilton, Hillsborough, Jefferson, Lafayette, Levy, Madison, Manatee, Pinellas, Sarasota, Suwannee and Taylor […]

This week, mortgage rates fell to their lowest level since February 2023; both mortgage applications and credit availability increased; refinancing is beginning to pick up as originations doubled in August, accounting for 26% of total mortgage loan production; homeowners now have more than $32 trillion in home equity – a record high; and median prices […]

Overview Due to Tropical Storm Debby in Pennsylvania, FEMA has declared the following counties a disaster. Incident Period: August 9, 2024 – August 10, 2024 State FEMA Disaster Declaration Counties Pennsylvania 09/11/2024 Lycoming, Potter, Tioga and Union Re-Inspection by Product Type If your loan is … A re-inspection is required … Under these circumstances … […]

Mortgage applications increased 1.6 percent this week; buyers remain in wait-and-see mode as lower prices, an increase in listings and longer times on the market are giving them more time to weigh their options; a new survey shows that 50% of prospective homebuyers can’t afford the basic costs of homeownership; and mortgage rates continue to […]

Overview Beginning Thursday September 5, 2024, Carrington Mortgage Services, LLC (CMS) will implement the following guideline changes on Non-QM (Carrington Prime Advantage, Carrington Flexible Advantage Plus, Carrington Flexible Advantage, and Investor Advantage) loan transactions. Updated Guideline Requirements Program Changes Carrington Prime Advantage Increased Maximum Purchase & Rate/Term Refinance LTV to 85% (FICO = 680) and […]

Overview Due to severe storms, flooding, straight-line winds and tornadoes in Iowa, FEMA has declared the following counties a disaster. The updated county is listed in bold. Incident Period: June 16, 2024 - July 23, 2024 State FEMA Disaster Declaration Counties Iowa 06/24/2024 Buena Vista, Cherokee, Clay, Dickinson, Emmet, Humbolt, Lyon, Monona, O'Brien, Osceola, Palo […]

Overview Due to Hurricane Debby in Florida, FEMA has declared the following counties a disaster. Updated counties are listed in bold. Incident Period: August 1, 2024 – August 27, 2024 State FEMA Disaster Declaration Counties Florida 08/10/2024 Alachua, Columbia, Dixie, Gilchrist, Hamilton, Jefferson, Lafayette, Levy, Madison, Manatee, Sarasota, Suwannee and Taylor Re-Inspection by Product Type […]

This week’s data shows home prices hit a record high in June; contract signings fell 5.5% last month; starter home sales surged 10.2% in July, as buyers took advantage of the recent rate drop; delinquencies and mortgage application payments both decreased; and home prices are still slightly down, while inventory is well above last year’s […]