Napa Mortgage News


When is the best time to buy? 
According to CNBC....fall and winter is the best time for buyers to negotiate and get their best deals. 
CLICK HERE for more info.


 
_____________________________________________________________________________
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!
Housing Market Conditions
 
The major economic data released this week was roughly neutral for mortgage rates, and a speech by Fed Chair Powell contained no surprises. As a result, it was a quiet week, and mortgage rates ended a little lower. 
 
The housing market data has been somewhat disappointing this year, and the reports released this week did little to improve the outlook. In July, both new and existing home sales decreased a little from June. For existing home sales, which make up roughly 90% of the market, this was the fifth straight month of declines, and they were lower than a year ago

The inventory of existing homes available for sale fell slightly from June to a 4.3-month supply. A 6-month supply is considered a healthy balance between buyers and sellers. Sales of new homes fell to the lowest level since October 2017.
 
A number of factors have contributed to the loss of upward momentum in home sales this year. One big reason is a lack of inventory in many regions, especially for lower priced homes. Single-family home construction is essentially flat from a year ago, and it is not meeting the demand at the lower end of the market. Builders say that rising land, material, and labor costs are obstacles to a faster pace of construction and make adding entry-level homes less desirable due to lower profit margins. For decades, single-family housing starts averaged about 1.1 million per year. Following the financial crisis in 2008, however, this figure fell to a low of 350,000 in 2009, and now is holding steady at levels around 850,000. 
 
Demographic changes are another cause for slowing home sales. Younger people today often place a higher emphasis on mobility than they did in the past. They acknowledge the possibility of quick job changes and value the option for living in different cities, which favors renting over owning. They also tend to want to live closer to downtown or other popular neighborhoods, which often are more expensive. Surveys indicate that millennials today are more likely to wait until they get married or have children to settle down and buy a home.
 
The takeaway is that home sales may have stalled for a while, but this does not mean that the underlying housing market is weakening. Knowing that buyer demand is there, home builders are diligently trying to ramp up production. The economy and the labor market remain quite healthy. Younger people may be waiting longer on average to purchase homes, but this is simply postponing demand to the future. In short, current economic conditions may have combined to temporarily dampen home sales, but there are plenty of reasons to be optimistic going forward.
 
Looking ahead, the second estimate of second quarter gross domestic product (GDP), the broadest measure of economic growth, and 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 influence mortgage rates. 
 
 

All material Copyright © Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission.
My oldest son Jake's birthday last week!
The birthday boy is in the middle, my younger son Travis on the left and daughter Jenae' too.  Always great having the kids close by!













T

 

"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 October 17th, 2018 7:40 AM

It appears that the market is shifting and it is now becoming a buyers market according to Zillow and CNBC.

See more of the details & the most specific markets that are being affected in short video clip below.

It is now becoming a buyers market
Keep in mind we now have quite an array of products & options available for your ultimate purchasing power, quick closings and low down payment assistance. 
 Call me anytime.


 
_____________________________________________________________________________
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!
Turkey, Retail Sales, Housing Starts 
 
Over the past week, increased concerns about Turkey offset stronger than expected economic data, and mortgage rates ended the week with little change. 
 
Due to a combination of Turkish government policy decisions, U.S. Fed rate hikes, and other global factors, economic conditions in Turkey have been getting worse for quite a while. The clearest indication of Turkey's problems has been the steady decline in its currency, which has lost more than half its value over the last five years. Sharply higher inflation has been another consequence. To try to preserve their wealth, many citizens have taken measures such as buying gold. The situation in Turkey potentially could deteriorate even further as the Trump administration considers increasing tariffs on Turkish goods in response to the detention of an American pastor. 
 
While some investors feel that most of the issues are specific to Turkey, others worry that similar economic troubles will be seen in other emerging market countries in the future. The investor response has been a shift from riskier assets such as stocks to relatively safer assets such as bonds, including U.S. mortgage-backed securities (MBS), which has been mildly positive for mortgage rates.


The biggest economic release of the week was Wednesday's Retail Sales report. Excluding the volatile auto component, retail sales in July rose 0.6% from June, which was double the expected increase. However, the June results were revised lower, offsetting most of the outperformance in July. As a result, the data was only modestly negative for mortgage rates. 

A lack of inventory has been holding back home sales, and the latest data on new construction was not encouraging. In July housing starts increased just 1% from the downwardly revised June reading, which was the lowest in nearly two years. The modest increase was nearly equal for both single-family and multi-family units. After reaching a 10-year high in November 2017, single-family homebuilding has lost momentum. Builders point to skilled labor shortages and rising material costs as impediments to a faster pace of new construction. On the plus side, building permits matched the expected levels in July.
 
Looking ahead, the minutes from the August 1 Fed meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials about future monetary policy and have the potential to move markets. Existing Home Sales will be released on Wednesday and New Home Sales on Thursday. Durable Orders, an important indicator of economic activity, will come out on Friday. In addition, news about Turkey or tariffs could influence mortgage rates.

All material Copyright © Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission.
My KIWANIS Club of Greater Napa volunteering at a concert & dinner at Lighthouse for the blind 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 October 17th, 2018 7:33 AM


Remember those times you bought those new shoes  or expensive hand bag you had to have?  Or MEN...the latest power tool or riding lawnmower?  And then a week later you wonder if it was the right thing to do or if possible,  you missed out on some fabulous feature or should have picked something different...or...maybe....not have made the purchase at all at that time!?!
 
Buyers Remorse.....we have all experienced it at one time or another.  The good thing is that most of the time we can return the purchase in question and get our money back...or at the very least....store credit.
However.....that isn't the case with the purchase of a new home or rental property!
 

 

According to this Realtor.com 

 

info.........(click here)
 

 

 


 
.....see the 9 things most buyers eventually "regret" overlooking when buying that new home.

  Much research goes into purchasing a home.  Potential buyers get Home Inspections, check out the school district and may even determine if the night life suits their needs. Unfortunately too many buyers often realize they have

 

Look at these 9 things for "no BUYER regrets"!






















 
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!
 ECB More Dovish
  
This week's movement in mortgage rates was mostly due to a more dovish investor outlook for the European Central Bank (ECB). The economic data caused littlereaction. Mortgage rates ended the week lower.
  
For years, the ECB has had a program in place to purchase massive quantities of bonds. The most recent extension of the program consists of buying 60 billion euros per month through December. This added demand has helped push bond yields lower around the world, including U.S. mortgage rates. Investors have been speculating for months about when the ECB will begin to scale back (taper) its bond purchases. On June 27, ECB President Draghi surprised investors by indicating that the extension of the bond purchase program next year might be at reduced monthly levels, and global bond yields moved higher. Recently, however, comments from ECB officials have become more dovish, meaning that the ECB may be less eager to scale back its stimulus programs as soon as some investors had thought. At Thursday's ECB meeting, Draghi provided just the vague guidance that the discussion about tapering should take place "in the fall." The apparent lack of urgency to taper helped mortgage rates improve over the last two weeks, nearly back to the levels seen before the comments on June 27.
  
One of the few bright spots in the recent U.S. economic data came from the housing sector this week. Despite a lack of inventory in many markets, a disturbing trend had appeared to be developing, as housing starts had declined in March, April, and May. However, the report for June released on Wednesday suggested that the three months of declines merely reflected that the data is highly volatile over the short-term.




  In June, single-family housing starts jumped 6% from May, and the results for May were revised higher as well. Single-family housing starts were 10% higher than a year ago. Similar gains were seen for building permits for single-family homes in June. They were 9% higher than a year ago. 
Looking ahead, the next Fed meeting will take place on Wednesday
No change in the federal 
funds rate is expected, but investors will be looking for guidance about future monetary policy.
 Before that, Existing Home Sales will be released on Monday and New Home Saleson Wednesday. Durable Orders, an important indicator of economic activity, will come out on Thursday.
The first reading for second quarter GDP, the broadest measure of economic activity, will be released on Friday. In addition, there will be Treasury auctions on Tuesday,Wednesday, and Thursday
  



 
Summer Fun with Family continue's....


My mom's 89th b-day celebration on Tuesday, the 18th at my house in Napa was nice.
 

www.facebook.com
/
emilydigennaro

Grants Pass, OR

 

My sister Penny was here from Oregon as well and my brother Bruce and his wife Riva from Rhode Island too! Mom went back to the East Coast with them!
 
  

 

 
 
 
My son Jake & my daughter Jenae' made it all that much sweeter.  :-)



 

"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
Custom Lending Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
Posted by Dale DiGennaro on July 23rd, 2017 9:02 AM

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