Napa Mortgage News

Making Lending Great Again!

April 29th, 2017 3:31 PM by Dale DiGennaro

Dear Gena,

I Spent the week in Washington D.C. with the National Association of Mortgage Professionals, meeting with our Congressmen and women in our ongoing quest for an easier and faster lending experience while maintaining protection for our clients.

(see pics below)

I happened to be there for my birthday and it appears that I share my birthday month with Melania Trump. Part of our group ran into President Trump and his family at a nearby hotel celebrating. He was very friendly and cordial.

Donald Trump celebrating Melania_s birthday

Keeping with the theme of "easier lending process", if you are considering purchasing a new home you can now...

LOCK...while rates are at their best which gives you time to...

SHOP...around for the perfect home knowing you are approved...

DROP...and if rates are better once you find that home...your rate will go down to the current market rate!

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!

Europe Influences U.S. Markets

Over the past week, mortgage rates were influenced mainly by events in Europe. The outcome of Sunday's French election was bad for mortgage rates, while Thursday's European Central Bank meeting was mildly positive. The U.S. economic data had little impact. Mortgage rates ended the week a little higher.

One pro-EU candidate (Macron) and one anti-EU candidate (Le Pen) won the first round of Sunday's French Presidential election and will compete in the second round on May 7. Polls indicate that Macron is heavily favored to win the second round, which reduces some concerns that France will leave the European Union. Investors reacted by reversing the flight to safety trade which took place ahead of the election. This means that they shifted back to riskier assets such as stocks and out of safer assets such as mortgage-backed securities (MBS). The increased supply of MBS caused mortgage rates to rise.

At Thursday's meeting, the European Central Bank (ECB) made no policy changes, as widely expected. The tone of ECB President Draghi was more dovish than anticipated, however. Some investors had worried that ECB officials might hint at a reduction in bond purchases by the ECB. The fact that they did not was good news for mortgage rates.

The first reading for

first quarter U.S. gross domestic product (GDP) released on Friday was 0.7%, below the consensus of 1.1%, and down from 2.1% in the fourth quarter of 2016. This was the slowest quarterly growth in three years. Weak consumer spending and a decline in inventories were a couple of the primary factors in the shortfall.

These components are volatile on a quarterly basis, and many economists believe that the weakness in the first quarter simply pushed some economic activity into later quarters. As a result, the report had little impact on mortgage rates.

Looking ahead, it will be a packed week. The next Fed meeting will take place on Wednesday. No change in rates is expected, but investors will be eager for guidance on the pace of future tightening. The key monthly Employment report will be released on Friday. Before that, important data on inflation, manufacturing, and services will be released. In addition, news about policies from the Trump administration or about the French election on May 7 could influence mortgage rates.


Congresswoman Nancy Pelosi's office


	Congressman Mike Thompson's office We had

appointments with many of the Congresswomen and men in Northern CA but sometimes met with their staffers since most were just coming back to D.C. after spring break.

All in all it was a success, they listened to the issues and asked how they could help.

We need both democrats and republicans to sign onto many of our bills to make positive changes to the housing & lending industry.

Congressman Jared Huffman's office

"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!"