Napa Mortgage News

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!
Trade Negotiations
While there was some major economic data released this week, there were no significant surprises, and its impact on mortgage rates was minor. By contrast, news on trade deals caused a negative reaction, and mortgage rates ended a little higher. 
The Trump administration long ago expressed an intention to end the NAFTA trade agreement which has been in place with Canada and Mexico since the start of 1994. On Monday, it was reported that a new trade deal had been reached with Mexico. Later in the week, the administration said that progress had been made with Canada, and at the time of this writing there remained hope for an agreement by the end of the day. The uncertainty surrounding the trade situation and the potential for escalation prompted investors to shift in recent months to relatively safer assets, including U.S. mortgage-backed securities (MBS). This added demand for MBS has been positive for mortgage rates. Thus, an easing of trade tensions this week caused the reverse effect, and the reduced demand for MBS pushed mortgage rates higher.

The latest reading for the primary indicator of confidence in current and future U.S. economic conditions suggested that consumer spending may remain strong in coming months. Consumer Confidence surged far more than expected to the highest level since 2000. A strong labor market, solid economic growth, and record stock prices have contributed to a high level of optimism
There are two major inflation reports released each month. The core consumer price index (CPI) is more closely watched by investors, while the core PCE price index is the inflation indicator favored by the Fed. Earlier this month, core CPI for July rose to the highest annual rate of increase since 2008. On Thursday, core PCE showed a continuation of a similar upward trend. In July, Core PCE, which excludes the volatile food and energy components, was 2.0% higher than a year ago, up from an annual rate of 1.9% last month. After running at lower levels for most of the past six years, core PCE has climbed to the Fed's stated target level for inflation of 2.0%. If the upward trend continues, at some point it might cause the Fed to tighten monetary policy more quickly, but comments from Fed officials suggest that we are not particularly close to undesirably high levels. 
Looking ahead, the important monthly Employment report will be released on Friday. As usual, these figures 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 come out on Tuesday and the ISM national services index on Thursday. In addition, news on trade deals could influence mortgage rate

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Last week I attended the "Originator Connect" conference in Las Vegas. 
Got the latest & greatest information on loan products, technology and services to further streamline the loan process. 
While there...saw some great of our educational trainers....David Luna of Mortgage Educators and compliance on the floor while the super talented guys from "The Passing Zone" threw swords and other items around him.....BRAVE......and then...the infamous Lionel Richie.
Also got to spend some time with Olympic Swimmer, Seven Time Medalist & model Amanda Beard and then enjoyed an after event at Top Golf at the MGM! Quite the experience!


"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
Custom Lending Group
O:707-252-2700  C:707-738-0878

"Always looking out for your best interest!"

Custom Lending Group
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Posted by Dale DiGennaro on October 17th, 2018 7:47 AM



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