Napa Mortgage News














 

On Monday & Tuesday, I will be in Washington DC for Congressional meetings to discuss some of the issue's in mortgage lending that we would like to see changed.  One of them is known as Trigger Leads.  This has most likely affected you but you were not aware at that moment!

 

Have you noticed that whenever your credit is pulled for the purchase of something....i.e......new car, home or investment property....you suddenly start getting phone calls and solicitations from companies you don't even know?

 

This is because the three national credit bureau's...Experian, Transunion and Equifax are selling these leads (known as "Trigger Leads") to competing companies! And....Trigger Leads are created and sold super fast...often within just 24 hours of your credit report being pulled!

 

This allows those competitors to call you and solicit your business before you get locked into the lender to whom you've applied. So, out of the blue your phone starts ringing and suddenly your the target of a pitch from a competitor offering a deal that may be real, deceptive or no better than the one you've already been quoted!  Causing a lot of confusion for you.

 

Enough of these lead-driven offers are deceptive that our industry group, The National Association of Mortgage Brokers (NAMB), will be campaigning on Capitol Hill this week for an outright ban.  As a group we feel that trigger leads sold by the national credit bureau's inevitably expose borrowers to identity theft, disrupt on-going mortgage transactions and open the door to a wide range of unscrupulous come-ons.

 

To illustrate the problem, Meridian Home Mortgage, a Maryland lender, recently posted a recording of a voicemail that they say was an actual trigger lead call to a borrower. The caller "misrepresents who he is, where he is calling from and even the purpose of the call", Meridian said.

 

Click Here to know what to watch out for.

 










 
VISIT OUR WEBSITE
_____________________________________________________________________________
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!



Quiet Week
 


Despite a wide range of major economic news, it was a very quiet week for mortgage rates. The key labor market report, the inflation data, and the Fed meeting caused little reaction. Mortgage rates ended the week nearly unchanged
 
 
The economy added 164,000 jobs in April, below the consensus for an increase of 190,000. However, upward revisions added 30,000 jobs to the results for prior months, bringing the net gains very close to the expected levels. The unemployment rate declined from 4.1% to 3.9%, below the consensus of 4.0%, and the lowest level since December 2000. 

There are two factors which influence the unemployment rate, and the decline was mostly due to workers leaving the labor force rather than job gains, so it was not viewed as a sign of strength. Average hourly earnings, an indicator of wage growth, fell slightly short of expectations. They were 2.6% higher than a year ago, the same annual rate of increase as last month. Overall, the modest weakness in wage growth tilted investors to view the report as a little weaker than expected.
 
As widely expected, the Fed made no change to the federal funds rate on Wednesday. The statement released after the meeting noted that inflation has moved "close to 2 percent" and that officials expect it to run near the Fed's "2 percent objective over the medium term." The meeting caused little change in investor expectations for the pace of future rate hikes. 
 
The Fed's comments regarding inflation were supported by the most recent reading of their favored inflation indicator, which matched investor expectations. The core PCE price index released on Monday revealed that inflation in March increased at an annual rate of 1.9%, up from an annual rate of 1.6% last month. This was the highest reading since February 2017. 
Looking ahead, it will be a light week for economic data. The JOLTS report, which measures job openings and labor turnover rates, will come out on Wednesday. The Consumer Price Index (CPI) will come out on Thursday. CPI is a widely followed monthly inflation report that looks at the price change for goods and services. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday. 
 
  Spent the past few days in Orlando at the Wide World of Sports Complex at Disney to see my daughter Jenae' compete in the International Cheerleading Competitions.  I did get to take in a little music at the House of  Blues too!
 
 One of my clients, Gordon Huether...is an amazing artist!  He had an open house a few weeks ago.    

       He was presented with honors by city officials...including Major Jill Techel & Senator Bill Dodd. 
                                  
nullSenator Bill Dodd at Gordon Huether's Art Gallery Open House.

 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Custom Lending Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
Posted by Dale DiGennaro on May 22nd, 2018 5:42 AM

Homeowners are currently sitting on a record amount of cash in the form of high home equity. According to CNBC.....here are the best ways to tap that cash - and the best ways to use it - along with some warnings.
Feel Free to call or email me anytime with questions or your personal scenario.

 
VISIT OUR WEBSITE
_____________________________________________________________________________
Ready to take the step of  purchasing or refinancing your home,  
office or apartment building 
You can rely on us to help you find the loan program that's best for you. 
Our team of professionals is eager to help you with this big financial decision. We will treat you right and give you the personal service you deserve. 
We know you're making a commitment in buying a house or investment property, refinancing a mortgage, or cashing out your home equity. 
So we make a commitment to you: we will help you qualify, apply and be approved for the right mortgage loan for you, and you will be able to follow our progress...every step of the way...whenever its most convenient for you! 
But don't just take our word for it!  Look at what our clients are saying...
  
  

GDP Beats Expectations



 Mortgage rates climbed higher during the first half of the week and then reversed direction during the second half to end nearly unchanged. The movement didn't correlate with any specific economic news.
 
The first reading for 
first quarter
 gross domestic product (GDP) growth, the broadest measure of economic activity, was 2.3%, above the consensus of 2.0%. This was down from a level of 2.9% in the fourth quarter of 2017. During the first three months of 2018, relatively weak consumer spending was offset by strong business investment.
 
Economists noted that the recent tax cuts may distort the typical distribution of activity between quarters for a while, making it necessary to look at longer-term time periods to discover the underlying trend in economic activity. Early estimates for second quarter GDP growth are for an increase of about 3.2%.
 
This week's data on home sales in March was encouraging. Sales of previously owned homes rose 1% from February and were close to the level seen a year ago. Sales of newly built homes increased 4% from February and were 9% higher than a year ago. Both readings were stronger than expected. The difference in performance likely was due to the supply of homes on the market. The inventory of previously owned homes was at just a 3.6-month supply and was 7% lower than a year ago. The inventory of new homes was at a much healthier 5.2-month supply and was 13% higher than a year ago. Home builders clearly are responding to the shortage of supply. 
 
Thursday's European Central Bank (ECB) meeting provided no change in policy or new guidance for the future. ECB President Mario Draghi said that officials need more time to better understand what has caused slower growth in the region so far this year. The eurozone economy grew at its fastest pace in a decade in 2017, but growth has slowed in 2018. Investors expect that the ECB will decide in June or July when to end its bond buyingprogram.
 
Looking ahead, the important monthly Employment report will be released 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. Before that, the Core PCE price index, the inflation indicator favored by the Fed, will be released on Monday. The ISM national manufacturing index will come out on Tuesday and the ISM national services index on Thursday. The next Fed meeting will take place on Wednesday, and no change in policy is expected. 

I enjoyed April 22nd, with my family celebrating the 10th Anniversary of my 50th birthday! 
Apparently all the items I bid on at silent auctions the past couple years paid off and we had a nice day up valley.  Had a wonderful outdoor picnic at our first winery and ended the evening with a 5 course meal at La Toque. 
Then.....On Monday we celebrated my long time friend Larry's b-day at ATT Park where his son surprised him with a Luxury Box filled with his good friends.  In the past he was a Loan Originator at Custom Lending Group.


























 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on May 22nd, 2018 5:33 AM

Homeowners are currently sitting on a record amount of cash in the form of high home equity. According to CNBC.....here are the best ways to tap that cash - and the best ways to use it - along with some warnings.
Feel Free to call or email me anytime with questions or your personal scenario.

 
VISIT OUR WEBSITE
_____________________________________________________________________________
Ready to take the step of  purchasing or refinancing your home,  
office or apartment building 
You can rely on us to help you find the loan program that's best for you. 
Our team of professionals is eager to help you with this big financial decision. We will treat you right and give you the personal service you deserve. 
We know you're making a commitment in buying a house or investment property, refinancing a mortgage, or cashing out your home equity. 
So we make a commitment to you: we will help you qualify, apply and be approved for the right mortgage loan for you, and you will be able to follow our progress...every step of the way...whenever its most convenient for you! 
But don't just take our word for it!  Look at what our clients are saying...
  
  

GDP Beats Expectations



 Mortgage rates climbed higher during the first half of the week and then reversed direction during the second half to end nearly unchanged. The movement didn't correlate with any specific economic news.
 
The first reading for 
first quarter
 gross domestic product (GDP) growth, the broadest measure of economic activity, was 2.3%, above the consensus of 2.0%. This was down from a level of 2.9% in the fourth quarter of 2017. During the first three months of 2018, relatively weak consumer spending was offset by strong business investment.
 
Economists noted that the recent tax cuts may distort the typical distribution of activity between quarters for a while, making it necessary to look at longer-term time periods to discover the underlying trend in economic activity. Early estimates for second quarter GDP growth are for an increase of about 3.2%.
 
This week's data on home sales in March was encouraging. Sales of previously owned homes rose 1% from February and were close to the level seen a year ago. Sales of newly built homes increased 4% from February and were 9% higher than a year ago. Both readings were stronger than expected. The difference in performance likely was due to the supply of homes on the market. The inventory of previously owned homes was at just a 3.6-month supply and was 7% lower than a year ago. The inventory of new homes was at a much healthier 5.2-month supply and was 13% higher than a year ago. Home builders clearly are responding to the shortage of supply. 
 
Thursday's European Central Bank (ECB) meeting provided no change in policy or new guidance for the future. ECB President Mario Draghi said that officials need more time to better understand what has caused slower growth in the region so far this year. The eurozone economy grew at its fastest pace in a decade in 2017, but growth has slowed in 2018. Investors expect that the ECB will decide in June or July when to end its bond buyingprogram.
 
Looking ahead, the important monthly Employment report will be released 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. Before that, the Core PCE price index, the inflation indicator favored by the Fed, will be released on Monday. The ISM national manufacturing index will come out on Tuesday and the ISM national services index on Thursday. The next Fed meeting will take place on Wednesday, and no change in policy is expected. 

I enjoyed April 22nd, with my family celebrating the 10th Anniversary of my 50th birthday! 
Apparently all the items I bid on at silent auctions the past couple years paid off and we had a nice day up valley.  Had a wonderful outdoor picnic at our first winery and ended the evening with a 5 course meal at La Toque. 
Then.....On Monday we celebrated my long time friend Larry's b-day at ATT Park where his son surprised him with a Luxury Box filled with his good friends.  In the past he was a Loan Originator at Custom Lending Group.


























 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on May 14th, 2018 9:41 AM

Beginning this week.....you may see a higher credit score!

Effective this past Monday.....The three major credit reporting companies are excluding all Tax Liens from Credit Reports.

That means some scores will head higher by as much as 30 points!
(of course this is assuming you currently have a tax lien)

Want more details....Click the video below.
 
Tax Liens removed from Credit Reports


 
VISIT OUR WEBSITE
_____________________________________________________________________________
Ready to take the step of  purchasing or refinancing your home,  
office or apartment building 
You can rely on us to help you find the loan program that's best for you. 
Our team of professionals is eager to help you with this big financial decision. We will treat you right and give you the personal service you deserve. 
We know you're making a commitment in buying a house or investment property, refinancing a mortgage, or cashing out your home equity. 
So we make a commitment to you: we will help you qualify, apply and be approved for the right mortgage loan for you, and you will be able to follow our progress...every step of the way...whenever its most convenient for you! 
But don't just take our word for it!  Look at what our clients are saying...


Blah......blah....blah...blah....blah....blah...blahhhhhhhhh.

Dale DiGennaro of Custom Lending Group addressing fellow CAMP members at legislative day in Sacramento April 11th_ 2018
Reviewing Bill SB-993 in Sacramento last week.  It would impose a sales tax on business to business services. 
If passed, will take affect on January 1, 2019.

 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on May 14th, 2018 9:38 AM


Each year the California Association of Mortgage Professionals (CAMP) advocate on behalf of consumers and mortgage professionals in Sacramento with our State representatives and Senators. Our lobby day this year was April 11th and here are a few bills and initiatives we spoke with them about:

CAMP's mission is to advocate on behalf of responsible mortgage professionals and consumersfor the availability of affordable financing, while promoting expert knowledge, accountability, sound lending, and ethical conduct throughout the mortgage industry.
 
C.A.R. Property Tax Portability Initiative & AB-1748 Property taxation: This initiative and bill allow for your base year property tax value to be transferred to a new home purchase, even if the new home cost more. Your property tax would increase only by the difference of the house you sell vs. the new home purchased. Right now you are only allowed to transfer your property tax bases if you buy a home at a lesser value. This would apply to all counties in California and could be done more than once. In the CAR ballot initiative you must be 55 years old or more, or be disabled. AB-1748 does not have the age and disabled restrictions. Support

SB 1087, Author: Senator Roth - AB 2063, Author: Assembly Member Caballero - AB 2150, Author: Assembly Member Chen: These bills all deal with PACE loans (Property Assessed Clean Energy) and would put better disclosures, qualifying parameters and protections for consumers in place. Support
 
SB-993 Senator Hertzberg: This bill would create a new sales tax for businesses in California that purchase services such as: accounting, legal, marketing, consulting, advertising, maintenance,  leasing, brokerage and on and on. Oppose
 
AB-1765 Building Homes and Jobs Act: (fee waiver states of emergency.) Provides relief from an additional fee on loan transactions imposed by the state last year for those in an area declared a disaster by the Governor due to the recent fires and mudslides. Support
 


 
VISIT OUR WEBSITE
_____________________________________________________________________________
Ready to take the step of  purchasing or refinancing your home,  
office or apartment building 
You can rely on us to help you find the loan program that's best for you. 
Our team of professionals is eager to help you with this big financial decision. We will treat you right and give you the personal service you deserve. 
We know you're making a commitment in buying a house or investment property, refinancing a mortgage, or cashing out your home equity. 
So we make a commitment to you: we will help you qualify, apply and be approved for the right mortgage loan for you, and you will be able to follow our progress...every step of the way...whenever its most convenient for you! 
But don't just take our word for it!  Look at what our clients are saying...
  
  
Inflation Rises
 


The stock market performed well this week, causing investors to shift some assets from bonds to stocks, which was negative for mortgage rates. The economic data produced little reaction, and mortgage rates finished the week a bit higher. 
 
On Wednesday, the Fed released the detailed minutes from their last meeting on March 21. Of note, officials expect that U.S. economic growth will be stronger than average for the next few years. In addition, they are more confident that inflation, which has remained below their desired level for years, will rise to their target of a 2.0% annual rate. At the meeting, officials also discussed changing the language used to describe their stance on monetary policy to give investors a clearer sense of their goals. Since the financial crisis, it has been "accommodative" to help boost economic growth. At some point, officials expect that this should be changed to "neutral," meaning that it neither supports nor restrains growth.
 
     The two most widely followed inflation indicators are the Consumer Price Index (CPI) and the PCE Price Index. To determine trends, investors generally prefer to look at the core readings, which exclude the volatile food and energy components. The most recent data for core CPI showed that it was 2.1% higher than a year ago, up from an annual rate of 1.8% last month.

The expected large increase occurred because a very weak month dropped out of the 12-month period used in the calculation. This was the highest level since May 2017. However, Fed officials favor the core PCE price index to measure inflation, and it tends to be about 0.3% to 0.5% lower than core CPI each month, so inflation remains below the desired level in the view of most Fed officials. The next release of the PCE price index will take place on April 30.
 
The most significant economic data next week will be Retail Sales, which will be released on Monday. Consumer spending accounts for about 70% of economic activity in the U.S., and the retail sales data is a key indicator. NAHB Housing also will be released on Monday. Industrial Production, another important indicator of economic activity, and Housing Starts will come out on Tuesday. 

 

My daughter Jenae' at Senior Prom last weekend in 
San Francisco!     

 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on May 14th, 2018 9:36 AM



We all know people that are making a commute from where they live to their job...or...quite possibly this is you! Daily traffic is getting heavier & heavier as people are making the commute from their home to their place of employment.

WHY?  It appears that its getting more and more challenging for us to live close to where we work based on the increasing home prices and affordability.  Just barely 10 years after the housing crisis, home prices are back up there again!

 

According to CNBC...Teachers, first responders, restaurant workers and, surprisingly, computer programmers have the hardest time affording a home near their jobs.  And in our area I would add agricultural workers to that list.

 

Check it out Here...

 

The good news is we are getting new lending programs every day that can help assist homebuyers and give some flexibility for income.

 

Call me for more information!

The Friday File: After a 9% jump to 1.46 billion in 2017, France, for the first time ever, consumed more hamburgers than jambons-beurres, whose sales totaled 1.22 billion. The split baguette with ham and butter had been the best seller since the 19th century! Interestingly, the French also love pizza and consume an average of 22 pounds per person/year, second only to the USA, and double Italian consumption.








 
VISIT OUR WEBSITE
_____________________________________________________________________________
Ready to take the step of  purchasing or refinancing your home,  
office or apartment building 
You can rely on us to help you find the loan program that's best for you. 
Our team of professionals is eager to help you with this big financial decision. We will treat you right and give you the personal service you deserve. 
We know you're making a commitment in buying a house or investment property, refinancing a mortgage, or cashing out your home equity. 
So we make a commitment to you: we will help you qualify, apply and be approved for the right mortgage loan for you, and you will be able to follow our progress...every step of the way...whenever its most convenient for you! 
But don't just take our word for it!  Look at what our clients are saying...
  
  

Weaker Job Gains


Investors were focused on Friday's Employment report and the policy on tariffs this week. Despite unexpected results on both fronts, however, there was little reaction in mortgage rates, and they finished the week nearly unchanged. 
 
       Against a consensus forecast of 175,000, the economy added just 104,000 jobs in March. In addition, downward revisions subtracted 50,000 jobs from the results for prior months. Even with the shortfall, however, the economy has added an average of 202,000 jobs per month during the first three months of 2018. The unemployment rate was flat at 4.1%.  
  
Average hourly earnings, an indicator of wage growth, slightly exceeded expectations. They were 2.7% higher than a year ago, up from an annual rate of 2.6% last month.
 
On Thursday, President Trump threatened to add an additional $100 billion in tariffs on Chinese goods on top of the previously announced $50 billion. Chinese officials quickly said that they would respond with proportional measures. Some people think that both sides are just attempting to gain leverage in trade negotiations and that the tariffs will never be imposed. If these actions result in a trade war, though, it likely would have multiple effects. One would be reduced global economic activity, which would be good for mortgage rates, as it would reduce the outlook for future inflation. However, tariffs also raise the price of imported goods, which would increase inflationary pressures. These offsetting factors make the overall impact on mortgage rates difficult to predict. 
 
Looking ahead, the minutes from the March 21 Fed meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials about future monetary policy. The Consumer Price Index (CPI) also will come out on Wednesday. CPI is a widely followed monthly inflation report that looks at the price change for goods and services. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday. 
 

Napa Valley Stars Gala Auction...Our real estate community raising money for fire victims! Hosted by Mark Ibanez...anchor/reporter for KTVU.

Easter Sunday with Gena and "The Kids"!

 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on May 14th, 2018 9:31 AM

 
We all know people that are making a commute from where they live to their job...or...quite possibly this is you! Daily traffic is getting heavier & heavier as people are making the commute from their home to their place of employment.

WHY?  It appears that its getting more and more challenging for us to live close to where we work based on the increasing home prices and affordability.  Just barely 10 years after the housing crisis, home prices are back up there again!

 

According to CNBC...Teachers, first responders, restaurant workers and, surprisingly, computer programmers have the hardest time affording a home near their jobs.  And in our area I would add agricultural workers to that list.

 

Check it out Here...

 

The good news is we are getting new lending programs every day that can help assist homebuyers and give some flexibility for income.

 

Call me for more information!

The Friday File: After a 9% jump to 1.46 billion in 2017, France, for the first time ever, consumed more hamburgers than jambons-beurres, whose sales totaled 1.22 billion. The split baguette with ham and butter had been the best seller since the 19th century! Interestingly, the French also love pizza and consume an average of 22 pounds per person/year, second only to the USA, and double Italian consumption.








 
VISIT OUR WEBSITE
_____________________________________________________________________________
Ready to take the step of  purchasing or refinancing your home,  
office or apartment building 
You can rely on us to help you find the loan program that's best for you. 
Our team of professionals is eager to help you with this big financial decision. We will treat you right and give you the personal service you deserve. 
We know you're making a commitment in buying a house or investment property, refinancing a mortgage, or cashing out your home equity. 
So we make a commitment to you: we will help you qualify, apply and be approved for the right mortgage loan for you, and you will be able to follow our progress...every step of the way...whenever its most convenient for you! 
But don't just take our word for it!  Look at what our clients are saying...
  
  

Weaker Job Gains


Investors were focused on Friday's Employment report and the policy on tariffs this week. Despite unexpected results on both fronts, however, there was little reaction in mortgage rates, and they finished the week nearly unchanged. 
 
       Against a consensus forecast of 175,000, the economy added just 104,000 jobs in March. In addition, downward revisions subtracted 50,000 jobs from the results for prior months. Even with the shortfall, however, the economy has added an average of 202,000 jobs per month during the first three months of 2018. The unemployment rate was flat at 4.1%.  
  
Average hourly earnings, an indicator of wage growth, slightly exceeded expectations. They were 2.7% higher than a year ago, up from an annual rate of 2.6% last month.
 
On Thursday, President Trump threatened to add an additional $100 billion in tariffs on Chinese goods on top of the previously announced $50 billion. Chinese officials quickly said that they would respond with proportional measures. Some people think that both sides are just attempting to gain leverage in trade negotiations and that the tariffs will never be imposed. If these actions result in a trade war, though, it likely would have multiple effects. One would be reduced global economic activity, which would be good for mortgage rates, as it would reduce the outlook for future inflation. However, tariffs also raise the price of imported goods, which would increase inflationary pressures. These offsetting factors make the overall impact on mortgage rates difficult to predict. 
 
Looking ahead, the minutes from the March 21 Fed meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials about future monetary policy. The Consumer Price Index (CPI) also will come out on Wednesday. CPI is a widely followed monthly inflation report that looks at the price change for goods and services. In addition, there will be Treasury auctions on TuesdayWednesday, and Thursday
 

Napa Valley Stars Gala Auction...Our real estate community raising money for fire victims! Hosted by Mark Ibanez...anchor/reporter for KTVU.

Easter Sunday with Gena and "The Kids"!

 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on April 8th, 2018 10:47 AM


Be careful about biting into those Easter Egg's Sunday...It's also April Fools Day!
 
Don't let the joke be on you!

According to USA Today...
Easter and April Fools' Day collide Sunday for the first time in 62 years, which means you might want to be super careful if you have a family of pranksters.

Some parents are using the rare double holiday - triple when you count Passover - to prank their kids and party guests.

Even corporations are getting involved!


  
 
Quiet Week

 
It was a relatively quiet holiday-shortened week for mortgage markets. The economic data contained no major surprises and caused little reaction. Mortgage rates finished the week a bit lower.
 
        
As expected, the most recent inflation data revealed a slight increase. In February, the core PCE price index was 1.6% higher than a year ago, up from an annual rate of 1.5% last month. This was the highest level since May 2017. Fed officials have stated that they would like to see the annual rate of inflation rise to 2.0%. 
On Wednesday, gross domestic product (GDP) for the fourth quarter of 2017 was revised higher from 2.5% to 2.9%. This is the broadest measure of economic growth. GDP for the first quarter of 2018 will be released on April 27, and the current consensus forecast is for growth of around 2.0%. 
 
Following unexpectedly weak results in January, the pending home sales data rebounded nicely. In February, contracts signed to purchase previously owned homes increased 3% from January. Despite the February gains, though, they still were 4% lower than a year ago. Contracts signed are viewed as a leading indicator of actual closings, which are revealed each month in the report on existing home sales.
 
Looking ahead, the important monthly Employment report will be released 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. Before that, the ISM national manufacturing index will be released on Monday. The ADP Employment Change and the ISM national services index will come out on Wednesday. 
 
My daughter Jenae' and I enjoying the first days of Spring last weekend!

 

"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!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on April 8th, 2018 10:43 AM


Interest rates continue to rise but alot of us remain unconcerned with the notion because we are not considering a new loan.
However.....keep in mind that when interest rates rise...the cost of money goes up as well!

So....what do you do?

According to CNBC...Here are four ways you can insulate yourself from the changes we are experiencing.









 
VISIT OUR WEBSITE
_____________________________________________________________________________
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!


  
Stocks Dive, Mortgage Rates Flat
 

Although the stock market suffered large losses this week, mortgage markets were relatively quiet. The two primary influences were the Fed meeting and a new tariff policy. Neither had much net effect, however, and mortgage rates finished the week nearly unchanged. 
 
Following Wednesday's Fed meeting, the statement and Chair Jerome Powell's first press conference left investors divided about whether there will be three or four federal fund rate hikes this year. As widely expected, the first 25 basis point hike in 2018 took place at this meeting. Investors were much more interested in the projections of Fed officials for the pace of future rate hikes. Seven out of fifteen officials now expect that four rate hikes will be needed this year, up from just four officials in the last set of forecasts in December. The projected pace of raising rates in coming years increased as well. It appears that the forecasts were roughly in line with expectations, though, and mortgage rates at the end of the day on Wednesdaywere little changed from Tuesday's closing levels. 
 
On Thursday, the Trump administration announced that it will impose new tariffs on about $50 billion worth of Chinese imports. This was a less aggressive plan than investors had feared, but it still increased concerns about retaliation. A trade war likely would have multiple effects. One would be reduced global economic activity, which would be bad for stocks and good for mortgage rates, as it would reduce the outlook for future inflation. However, tariffs also raise the price of imported goods, which would increase inflationary pressures. In short, the threat of a trade war was viewed as clearly negative for stocks, but the overall impact on mortgage rates is difficult to predict. 
 
 
The data from the housing sector was pretty good and could have been even better except for severe weather in the Northeast and Midwest. In February, sales of previously owned homes increased 3% from January and were a little higher than a year ago. The inventory of homes for sale rose 5% to a 3.4-month supply, but it was 8% lower than a year ago. The median existing-home price was 6% higher than a year ago. 
Looking ahead, Pending Home Sales will be released on Wednesday. The Core PCE price index, the inflation indicator favored by the Fed, will come out on Thursday. In addition, Treasury auctions on Tuesday and Wednesday could affect mortgage rates. Mortgage markets will close early on Thursday and will be closed on Friday in observance of Good Friday.
 

 
  
My Daughter Jenae' (Left side above) competed at the USA Cheerleading competition at the Anaheim Convention center this weekend.

Her team came in third!

Interesting event as there were 1000's of cheerleaders from all over the U.S.

 

"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

"Always looking out for your best interest!"






Custom Lending Group
nmls#298353/845079
calbre#966782/944064
http://www.customlending.net
Find us on Yelp  Find us on Google+  Like us on Facebook  Follow us on Twitter  Find us on Pinterest  View our profile on LinkedIn  Visit our blog
Posted by Dale DiGennaro on March 23rd, 2018 1:10 PM



 St Patrick's Day is a global celebration of Irish culture on or around March 17. It particularly remembers St Patrick, one of Ireland's patron saints, who ministered Christianity in Ireland during the fifth century.
For more details on this age old celebration...







 
VISIT OUR WEBSITE
_____________________________________________________________________________
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!



Retail Sales Drop Again
 




It was a relatively quiet week for mortgage rates ahead of the Fed meeting on March 21st. The primary surprise was a decline in retail sales, which was positive for mortgage rates, and rates finished the week slightly lower. 


Consumer spending accounts for about 70% of economic activity in the U.S., making the retail sales data a highly anticipated report each month. Following the hurricanes last fall, retail sales were very strong for three months, causing most economists to expect that consumer spending would remain strong in 2018. This has not been the case however. Wednesday's report revealed that retail sales in February unexpectedly declined for the third straight month.
 
One result of the weaker than expected retail sales data seen over the last few months is that many leading economists have been lowering their forecasts for first quarter gross domestic product (GDP), the broadest measure of economic growth. Perhaps the most widely followed GDP prediction is put out by the Federal Reserve Bank of Atlanta. At the end of January, the Atlanta Fed forecast for first quarter GDP growth was a shockingly high 5.4%. Since then, it has been declining rapidly, but it still was at a solid 2.5% last week. The Atlanta Fed's most recent reading is just 1.9%, which is in line with the consensus of leading economists. The actual first quarter GDP data will be released on April 27.
 
Friday's report on housing starts contained mixed news. In February total housing starts fell 7% from January, dropping well below the expected level. However, this was entirely due to a large decline in highly volatile starts of multi-family units. Single-family starts in February rose 3% from January, and there were 501,000 single-family units under construction, the most since June 2008. This was encouraging news since a lack of inventory has been holding back home sales in many regions.
 
Looking ahead, the big news will be Wednesday's Fed meeting. Investors widely expect a 25 basis point increase in the federal funds rate, and they will be seeking guidance about the pace of future rate hikes. In addition, they will be looking for changes at Jerome Powell's first meeting as Fed Chair. For economic data, Existing Home Sales will be released on Wednesday and New Home Sales on Friday. Durable Orders, an important indicator of economic activity, also will come out on Friday.
 
We had a great time at the Andretti Winery dinner last week and enjoyed meeting the wine maker, the photographer of all the beautiful photos and the chef!
End of the night by the fire pit was perfect.





 

"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

"Always looking out for your best interest!"






Posted by Dale DiGennaro on March 23rd, 2018 12:46 PM

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