Our assets and liabilities measured or disclosed at fair value are summarized below ($000’s omitted): | | | | | | | | | | | | Financial Instrument | | Fair Value
Hierarchy | | Fair Value | March 31,
2016 | | December 31,
2015 | | | | | | | | Measured at fair value on a recurring basis: | | | | | | | Residential mortgage loans available-for-sale | | Level 2 | | $ | 290,578 |
| | $ | 442,715 |
| Interest rate lock commitments | | Level 2 | | 8,899 |
| | 5,574 |
| Forward contracts | | Level 2 | | (3,173 | ) | | 338 |
| Whole loan commitments | | Level 2 | | (95 | ) | | 13 |
| | | | | | | | Measured at fair value on a non-recurring basis: | | | | | | | House and land inventory | | Level 3 | | $ | — |
| | $ | 11,052 |
| | | | | | | | Disclosed at fair value: | | | | | | | Cash and equivalents (including restricted cash) | | Level 1 | | $ | 1,018,115 |
| | $ | 775,435 |
| Financial Services debt | | Level 2 | | 118,614 |
| | 267,877 |
| Term loan | | Level 2 | | 500,000 |
| | 500,000 |
| Senior notes | | Level 2 | | 2,663,408 |
| | 1,643,651 |
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