Napa Mortgage News

Home Affordibility...Tiny Houses and One last Hurrah!

October 16th, 2018 8:22 PM by Dale DiGennaro

Here's why affordability in U.S. housing market is at record lows...

At Custom Lending Group...We have new programs that will assist and help off- set the amount of down payment needed as well as covering some or all of the closing costs for First Time Home Buyers (haven't owned a home within the past 3 years). It all depends on your individual situation!

Feel free to call me for more information.

10 great places to try tiny-house living on vacation according to USA TODAY

The latest way to live large on vacation is to think small.

The tiny-house trend has spawned hotels that let guests experience what it's like to live in fully contained homes that can measure less than 200 square feet.

"People are just curious because they've heard so much about tiny houses," says John Weisbarth of "Tiny House Nation," which appears on the FYI network, and in 2019 will also show on A&E.

His co-host, contractor Zack Giffin, says guests are surprised by the amenities that can be packed into a small place. "They're very luxurious. It's almost like renting your own house or getaway, and it's priced more like a hotel room." The partners share some favorite rentals with USA TODAY.

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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!

Mixed Inflation Data

It was a quiet week with no major surprises. Mortgage rates ended the week slightly lower.

The most significant economic data released this week was the inflation data. The Consumer Price Index (CPI), the most closely watched monthly inflation report, looks at the price change for finished goods and services. Friday's release revealed that inflation has continued to rise in recent months. Core CPI, which excludes the volatile food and energy components, was 2.4% higher in July, up from an annual rate of increase of 2.3% in June. This matched the consensus forecast and was the highest level since September 2008.

By contrast, the Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products, which investors view as a little less indicative of the level of inflation in the economy as a whole. On Thursday, Core PPI was 2.7% higher in July, down from an annual rate of increase of 2.8% in June, and a little lower than expected. Since inflation is negative for bond yields, this report was mildly favorable for mortgage rates.

The JOLTS report measures job openings and labor turnover rates. Fed officials and investors value this data to help round out their views of the strength of the labor market. In June, there were 6.66 million job openings, which was close to the record levels seen in April. There were only 6.56 million people who reported that they were looking for work that month. It is rare to see more job openings than people seeking work. A large number of workers also willingly left their jobs. This is viewed as a sign of labor market strength, since people usually quit only if they expect that they can find better jobs.

Looking ahead, Retail Sales will be released on Wednesday. Consumer spending accounts for about 70% of all economic activity in the U.S., and the retail sales data is a key indicator of growth. Industrial Production, another important indicator of economic growth, also will come out on Wednesday. Housing Starts will be released on Tuesday.

The Last Hurrah.....My daughter Jenae' and her bf Noah having fun with family at Disneyland one last time before head off to San Francisco State in just a couple of weeks!

henae_ Digennaro _ Noah Meyer at Disneyland

Jenae_ DiGennaro _ Noah Meyer at Disneyland

"Thank you for always trusting in us to do the best for you and your family and please feel free to call me anytime you have questions. I will be happy to share with you whatever information you may need!"