Napa Mortgage News

Happy New Year 2017....Positive Outlook on Housing!

February 16th, 2017 7:13 PM by Dale DiGennaro

Dear Gena,

VISIT OUR WEBSITE

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THINKING OF SELLING OR EVEN DOING A REFINANCE...
Our "Home Price Index" will take into consideration your original purchase price & date of home purchase to determine...

according to the appreciation rate for the region you live in...whether it is a good time for you to refinance now or....if you are getting ready to list your home...what a reasonable value for your area would be. You can also sign up to receive a quarterly report of your homes value based on the up to date analysis of your region.

Just a couple of ways that Custom Lending keeps you informed of our changing market place so you can make the best financial decisions for you and your family!

Positive Outlook

for Housing...

On little news and light trading, mortgage rates ended the last few days of 2016 a little lower, reversing some of their recent rise. The economic data released this week had little impact.

Despite the rise in mortgage rates since the election, there are many reasons to be optimistic about the housing market and overall economic activity heading into 2017. This week's release by the Conference Board of the consumer confidence index is the latest.

On Monday, the index revealed that consumers

are more confident about their future than at any time

in the last 15 years. Low unemployment, rising wages,

record stock market values, home price appreciation,

and expectations of growth-friendly policies from the

Trump administration are contributing factors.

Even though inventories of homes available for sale are at very low levels, home sales are ending 2016 at the highest levels since the 2008 recession, and demand from home buyers remains high. In addition, there is reason to be optimistic that home builders may pick up their pace of construction next year. A December survey of home builders showed a surge in optimism

since the election. Single-family housing starts and building permits are near multi-year highs. Confident consumers and home builders are solid reasons to look for continued improvement in housing market activity next year.

Looking ahead, the ISM national manufacturing index will be released on Tuesday. The Minutes from the December 14 Fed meeting will come out on Wednesday. The ISM national services index will be released on Thursday. The next Employment report will come out on Friday. As usual, this data on the number of jobs, the unemployment rate, and wage inflation will be the most highly anticipated economic data of the month. Mortgage markets will be closed on Monday in observance of New Years.

CHEERS!

Christmas at my home this year! I was blessed to have all 3 of my kids.....Jenae', Jake and Travis and their gf's Tania & Hannah, as well as my sister Lisa and her husband Richard in from the East Coast....their son Brian visiting from LA and of course my mom and aunt Nancy who drove from Oregon. A full house!

"Happy New Year to all...with many blessings and good wishes for a prosperous, healthy and joyful 2017!"