Napa Mortgage News

Are you prepared for a disaster?
This year's wildfires, record rains, flooding, tornadoes, hurricanes and potential for earthquakes should all act as reminders that you should be prepared for a disaster. Sure, it will take some effort on your part and you may never be affected by a disaster, but if you are, you will sure wish you had been prepared. It can become a nightmare, whether it impacts you personally or your business. 

Business Owners If you are a business owner, unexpected events can have a devastating effect on your business. You need to be protected from any number of natural and unnatural events, such as fire, computer failure and illness or the loss of key staff, all of which can make it difficult or even impossible to continue day-to-day operations. 

Family and Home Just like a business, your family needs to have an emergency plan. They may be in different locations, such as school, work and home, when a disaster strikes. You need to have plans in place for where to meet if separated and a pre-planned evacuation route or action plan for unexpected disasters. The pre-planned evacuation route should avoid areas that can flood or are dangerous. It is good practice to never let the fuel level in your car(s) get below half-full, or let your electric car be less than half-charged, because the area may lose power, and gas stations may also be damaged by the disaster or run out of fuel. 
Records - We now live in a digital world, and if you are computer savvy, an easy way to keep your records out of harm's way is to store digital copies of the documents on a remote server (i.e., in the cloud). It may cost a few bucks a month, but the digital files will be there when you need them, regardless of what happens to your home or business location. If you aren't a fan of cloud storage, you should maintain an up-to-date backup of your computer files on an external hard drive or thumb drive(s), preferably with a copy stored in a secure location away from your home or office that is not likely to be affected by the same disaster. 

Disaster Scams - Whenever there is a disaster, lowlifes show up and try to scam generous individuals out of money intended to go to victims of the disaster. Don't you be another victim of the disaster - watch out for scammers claiming to represent charitable organizations, who will pocket the donations for themselves instead. Besides fraudsters soliciting on behalf of bogus charities, some so-called charities aren't entirely honest about how they use contributions. 

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!
Rates Inch Higher
Although this week's major U.S. economic data and European Central Bank meeting contained more good news than bad for mortgage rates overall, rates ended slightly higher. 

The most recent inflation data came in at lower than expected levels. The Consumer Price Index (CPI), a widely followed monthly inflation report that looks at the price change for goods and services, was just 2.2% higher than a year, down from an annual rate of increase of 2.4% last month. Lower inflation is positive for mortgage rates, but the reaction to the data was small. 
The Retail Sales report released this week was mixed. Excluding the volatile auto component, retail sales in August rose just 0.3% from July, which was below the consensus for an increase of 0.5%. However, the July results were revised higher by an amount comparable in size to the August shortfall. As a result, the data was essentially neutral for mortgage rates. 
Thursday's European Central Bank (ECB) meeting produced no significant surprises and had little impact on U.S. mortgage rates. The ECB lowered its forecast for economic growth this year and next, but confirmed its plans to wind down its massive 2.5 trillion euro bond purchase program by the end of this year. ECB officials also said that they plan to hold the benchmark interest rate at current levels at least through the summer of 2019.
Looking ahead, the housing data will be the main focus. The NAHB home builder confidence index will be released on Tuesday. Housing Starts will come out on Wednesday. Existing Home Sales will be released on Thursday.

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My North Bay Chapter of the California Association of Mortgage Professionals (CAMP)
sponsored David Luna for our 8 hour NMLS
continuing education in Petaluma.

I'm good for another year!

Met Jenae' in San Francisco over the weekend to take in a Giants game!  
She is attending San Francisco State......very convenient!
And...The GIANTS won!!


"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 8:06 AM



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