December 30th, 2017 4:25 PM by Dale DiGennaro
Dear Gena,
Best wishes for a Happy New Year filled with Hope and Promise!
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!
Encouraging Housing Data
Strong housing data continued to roll in over the past week. In November, contracts signed to buy new homes surged 18% from October to the highest level since 2007. Contracts signed in November to buy previously owned homes also exceeded the expected levels. Despite the strong data, mortgage rates ended the week a little lower.
The recent inflation data also contained good news for the housing market. The core PCE price index revealed that core inflation, which excludes the volatile food and energy components, was just 1.5% higher than a year ago. While Fed officials have stated that they would like to see inflation rise to their target level of 2.0%, core PCE has remained close to the current level for most of the year.
Tame inflation is one reason that mortgage rates are ending the year a good deal lower than they were at the end of 2016.
Beyond low mortgage rates, there are other reasons to be optimistic about the housing market in 2018. Consumer confidence is at very high levels, partly due to a record high stock market and a low unemployment rate. In addition, one of the big factors holding back home sales activity in 2017, a lack of inventory, may be easing to some degree. Toward the end of the year, home builder confidence jumped to the best level in years and the pace of new construction picked up.
Looking ahead, the important monthly Employment report will be released on January 5. 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. Before that, the ISM national manufacturing index will be released on Tuesday and the ISM national services index on Thursday. The minutes from the December 13 Fed meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials. Mortgage markets will close early at 2:00 et on Friday and will be closed on Monday.
We had an awesome family brunch on Christmas Day!
My Oldest son Jake (L), Son Travis and his gf Hannah, and my daughter Jenae'
Oldest son Jake with daughter Jenae'
Cousin Vic & Laurel
"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!"
Sincerely,
Dale DiGennaro, President
Custom Lending Group
O:707-252-2700 C:707-738-0878
"Always looking out for your best interest!"
nmls#298353/845079
calbre#966782/944064
dale@clgroup.net
http://www.customlending.net