This morning my daughter and I...along
with her good friend Madison and my Kiwanis club of Greater Napa...spent
time picking up trash along the roadside as a community service.
Speaking of community.....did you
realize that there are funds available from various sources to assist
in the purchase of a home?
A Community Seconds loan may provide
the necessary funds for all or part of the down payment, closing
costs, and property renovations.
To be eligible, Community Seconds
funds must be provided by a federal agency; a municipality; state;
county; state or local housing finance agency; nonprofit organization
Programs available even up to 105%
Feel free to call or e-mail for more
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!
Reaction to Big
During a light week for economic
reports, investors were focused on three big events. There was
little reaction to the events, however. For the first time in a
month, mortgage rates ended the week a little higher, rising from
the best levels of the year.
Three events on Thursday had the potential to
significantly affect mortgage rates. However, none of the three
caused much reaction. In the U.S., the testimony of former
FBI director James Comey did little to change expectations for
the investigation of the Trump administration's dealings with
Russia. In Europe, the European Central Bank (ECB) made no change
in policy, and there was no additional guidance provided about
the timing for a reduction in bond purchases. The third event did
produce a surprising result, but it still had little impact on
U.S. markets. In the election in the United Kingdom, Prime
Minister Theresa May's party unexpectedly failed to gain a
majority in Parliament. This will weaken her position in the
upcoming negotiations for the British exit from the European
On Tuesday, the Bureau of Labor Statistics
released the JOLTS (job openings and labor turnover rates)
report. Fed Chair Yellen has described this data as being very
useful in evaluating current labor market conditions. It
revealed that job openings in April rose to a record high level
and that the quits rate held steady at an elevated level of
Both readings are viewed as signs of a strong labor
market. A high quits rate is viewed as a signal of strength
because workers are more likely to leave their jobs willingly
when they are confident about their ability to get another one.
Looking ahead, Wednesday will be the big day next
week with a Fed meeting, Retail Sales, and CPI. Investors widely
expect a federal funds rate hike from the Fed, and they will be
looking for guidance about future monetary policy. Consumer
spending accounts for about 70% of economic output in the U.S.,
and the retail sales data is a key indicator. The Consumer Price
Index (CPI), a widely followed monthly inflation report, looks at
the price change for goods and services which are purchased by
consumers. After that, Housing Starts will come out on Friday.
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!"
Dale DiGennaro, President
looking out for your best interest!"
Custom Lending Group
Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
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Most of us know and/or participate in
at least some of the traditional observance of Memorial Day!
As it goes....the flag of the United
States is raised briskly to the top of the staff and then solemnly
lowered to the half-staff position, where it remains only until noon.
It is then raised to full-staff for the remainder of the day.
Once known as "Decoration
Day"...Memorial Day observances in small New England towns are
often marked by dedications and remarks by veterans, state
legislators, and selectmen.
The half-staff position remembers the
more than one million men and women who gave their lives in service
of their country. At noon, their memory is raised by the living, who
resolve not to let their sacrifice be in vain, but to rise up in
their stead and continue the fight for liberty and justice for all.
The National Memorial Day Concert
takes place on the west lawn of the United States Capitol. Music is
performed, and respect is paid to the men and women who gave their
lives for their country.
For many Americans, the central event
is attending one of the thousands of parades held on Memorial Day in
large and small cities all over the country. Most of these feature
marching bands and an overall military theme with the National Guard
and other servicemen participating along with veterans and military
vehicles from various wars.
One of the longest-standing
traditions...is the running of the Indianapolis 500, an auto race
which has been held in conjunction with Memorial Day since 1911. It
runs on the Sunday preceding the Memorial Day holiday. NASCAR's Coca-Cola
600 has been held later the same day since 1961. The Memorial
Tournament golf event has been held on or close to the Memorial Day
weekend since 1976. The final of the NCAA Division I Men's Lacrosse
Championship is currently held on Memorial Day.
In 2000, Congress passed the National
Moment of Remembrance Act, asking people to stop and remember at 3:00
But.....around the world there are
many variations of this holiday and how it is commemorated....CLICK HERE to
Minutes Reveal Plan
few new political headlines or major surprises in the
economic data, it was a quiet week. Wednesday's release of
the Fed minutes was the biggest market mover, but those gains
were offset by small losses on other days. Mortgage rates
ended the week with little change.
release of the detailed minutes from the Fed meeting on May 3
said that Fed officials expect to raise the federal funds
rate again "soon." To explain the need for the rate
hike, they said that they viewed the slow economic growth
during the first quarter as "transitory." Fed
officials also expect inflation to gradually rise. This
information was in line with the Fed statement on May 3 and
recent comments from Fed officials.
minutes did contain new information about the Fed's plan to
reduce the $4.5 trillion of mortgage-backed securities (MBS)
and Treasuries on its balance sheet. The plan calls for a
gradual reduction by no longer reinvesting all of the
principal payments received. The amount that will not be
reinvested will be announced in advance and will increase
over time on a fixed schedule. Although many questions remain
unknown, investors were pleased to see a plan which is
intended to minimize disruptions to the market, and mortgage
rates improved slightly after the minutes were released.
Friday, the first revision to first quarter
Gross Domestic Product (GDP) showed an increase to 1.2%
from the original estimate of 0.7%. GDP is the broadest
measure of economic growth. First quarter GDP has been
coming in at low levels in recent years, so these weak
results were not surprising. Early estimates for second
quarter GDP are for much stronger growth of around 3.0%.
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 Tuesday. The ISM
national manufacturing index will come out on Thursday.
Mortgage markets will be closed on Monday in observance of
I am spending my Memorial Weekend at
I have seen Maroon 5, Tom Petty, Mavis Staples and
many other talented musicians. Not to mention Chef Morimoto,
Charles Woodson and others on the Culinary stage.
The most amazing experience is navigating through the
thousands of people that end up in this one area we call our
Here is a beginning, during & after look!
Early in the day!
would hate to be on clean up!
"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!"