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

US housing market needs more supply to tame prices according to research presented on CNBC.

U.S. home sales fell for a third straight month in June but a shortage of supply pushed up house prices to a record high, sidelining some potential buyers. Lawrence Yun from National Association of Realtors weighs in...CLICK HERE to get details.






















 
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!
 
Strong Retail Sales 
 
It was a relatively quiet week for mortgage rates. The major economic data was mixed, and mortgage rates ended a bit higher. 

Consumer spending accounts for about 70% of economic activity in the U.S., and the retail sales data is a key indicator of growth. Retail Sales unexpectedly turned negative for three months during the winter, causing investors to question the strength of the economy. Since then, however, sales have been very strong. 
 
Monday's data showed a solid increase in June of 0.5% from May, and the May results were revised much higher to 1.3% from 0.8%, which was the largest monthly gain since September 2017. Given the strong retail sales data, along with other major reports, the Atlanta Fed's forecast for second quarter gross domestic product (GDP) is up to a whopping 4.5%, more than double the 2.0% growth seen in the first quarter.
 
The news from the housing sector was less encouraging. In June, housing starts fell 12% from May to the lowest level since September 2017. The decline was split roughly evenly between single-family and multi-family units. Single-family starts reached a 10-year high in November 2017, but they have fallen steadily since then. Despite a huge need for more inventory of homes in many regions, higher labor, land, and material costs are some of the reasons cited by homebuilders for the slowdown in new construction.
 
Looking ahead, Existing Home Sales will be released on Monday and New Home Sales on Wednesday. Durable Orders, an important indicator of economic activity, will come out on Thursday. The first reading for second quarter gross domestic product (GDP), the broadest measure of economic growth, will be released on Friday. In addition, a European Central Bank meeting on Thursday could influence U.S. mortgage rates. 
      
All material Copyright © Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission.
My Mothers 90th Birthday party in Grants Pass, Oregon was amazing! Three days of partying with family and old friends!  Thursday night was a BBQ at our rented house with pool, Friday Night a ride on the Hellsgate boat up to a Log Cabin Restaurant and Saturday her party at the golf course. 
I'd like to share a bit of it with you......

Emily DiGennaro 90th Birthday

 

"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 July 27th, 2018 4:53 PM

In most areas of the U.S. and especially California...home values continue to increase!  Especially in the first half of this year.  And showing no signs of slowing soon.

Take a look at San Francisco area.....
(click picture)
san francisco golden gate bridge
The average price of a house bought in San Francisco rose by $205,000 in the first half of 2018, the largest six-month increase in history, according to MLS data compiled by local real estate agency Paragon. 

The average house in the city limits now costs $1.62 million. 

Condo prices also rose by $71,000, which is a significantly slower pace of change than in past years, but still comes in at a startling $1.21 million.






















 
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!
 
Mixed Employment Data
 
The main influence on mortgage rates this week was Friday's Employment report which was viewed on balance as a little weaker than expected. The Fed minutes and the other data had just a minor impact. As a result, mortgage rates ended lower. 


Against a consensus forecast of 190,000, the economy gained 213,000 jobs in June. In addition, upward revisions added 37,000 jobs to the results for prior months. The economy has gained an average of 215,000 jobs per month so far this year, exceeding even the strong pace of 182,000 seen over this period last year. 
 
 
The unemployment rate increased from an 18-year low of 3.8% to 4.0%, above the consensus for a flat reading of 3.8%. There are two factors which influence the unemployment rate, and June's increase was due to a surge of workers entering the labor force rather than job losses, so this actually was viewed as a sign of strength. 
 
Average hourly earnings, an indicator of wage growth, fell slightly short of expectations. They were 2.7% higher than a year ago, the same annual rate of increase as last month. Overall, the shortfall in wage growth was viewed by investors as more significant than the strong job gains, and mortgage rates moved a little lower after the data.
 
The minutes from the June 13 Fed meeting released on Thursday contained no major surprises and caused little reaction for mortgage rates. Noteworthy, though, Fed officials discussed both upside and downside risks to the economy. They pointed to the recent tax cuts as a potential source of support for economic growth in coming years, but also the risk that increased trade tensions could slow future investment activity, which would be negative for the economy.
 
Looking ahead, the inflation data will get the most attention. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Wednesday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Thursday. CPI looks at the price change for finished goods and services. In addition, Treasury auctions on Wednesday and Thursday could influence mortgage rates. 
All material Copyright © Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission.
So many summer activies to enjoy right here in Napa!
"Napa City Nights".....Live music outside on the river every Friday Night.
I recently enjoyed that with my son Travis and then we headed over to The Blue Note to see John Hooker Jr.  Excellent....
My mother is returning from spending time with our family on the East Coast and has joined me for a few days of fun in the sun before heading back to Grants Pass, Oregon.
 She is celebrating her 90th this month!

 

"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 July 21st, 2018 10:13 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

Tomorrow morning is our annual Kiwanis 5K Fun Run in conjunction with the Napa Valley Marathon! 
 We would love to see you come out and even just walk the course....
it is for a very good cause to help our children with school scholarships!

 To pre-register or for more information...call 707-255-7503 or on-line at www.napavalleymarathon.org/kiwanis5k.


Here are some Fun Facts on the fans of other sports...
The PGA is the sport with the oldest fans; an average age of 63. Horse racing follows at 62, then NASCAR at 59 and cycling at 58. By contrast, soccer fans average just 41 years of age, followed by NBA supporters at 43. 
Tennis fans earn the most money, averaging about $82,000, with NHL fans next at $80,000. The average age of hockey and tennis fans, roughly 50. 








 
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!



Powell Testifies
 




A wide range of events influenced mortgage rates this week, including comments from the new Fed Chair, government policy changes, and surprises in the economic data. In the end, however, these were offsetting, and mortgage rates finished the week with little change. 
 
On Tuesday, Jerome Powell gave his first testimony to Congress as Fed Chair. His comments caused investors to raise their expectations for the pace of rate hikes, which was negative for mortgage rates. He said that "my personal outlook for the economy has strengthened since December." He also predicted that inflation would rise to the Fed's target level of 2% "over the medium term" and that "wages should increase at a faster pace as well." Investors expect a 25 basis point rate hike at the next Fed meeting on March 21.
 
 
The biggest surprise in this week's economic data came from the manufacturing sector. The ISM national manufacturing index unexpectedly climbed to 60.8, which matched the highest level since 2004. Readings above 50 indicate an expansion in the sector. Since faster economic growth raises the outlook for future inflation, this data was unfavorable for mortgage rates. 

On Thursday, President Trump announced that he would impose global tariffs on steel and aluminum imported into the U.S. Concerned that other countries might retaliate and a trade war might develop, investors sold stocks and shifted assets into bonds, including mortgage-backed securities (MBS). The added demand for MBS was good for mortgage rates. 
 
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 services index will be released on Monday and Factory Orders will come out on Tuesday. In addition, the next European Central Bank meeting will take place on Thursday and could influence U.S. mortgage rates. 
The day has come for my long time assistant & loan processor.....Linda Trull to leave us.  She has retired and bought a home in Oregon to spend time with her family.
Linda has been with Custom Lending Group since 1994 and we thank her for her devotion and service to all of us & all of you!
We will miss you Linda & wish you all the best!

 

"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 5th, 2018 9:57 AM


Dear Gena, 

Could Loans to Pot Industry Go to Pot?

In a reversal of federal policy, Attorney General Jeff Sessions voided the Cole Memorandum, an Obama administration Justice Department memo that said there would be no federal prosecution for medical use of marijuana if there was no violation of state law. 
 
 Sessions' reversal sent shockwaves through the marijuana industry and anyone connected to it in any way, including lenders.  It could have huge repercussions in the banking industry and the few companies that have lent mortgage money to these businesses. 
 
 At this time, Sessions is playing it down, not calling for an imminent crackdown.  Needless to say, it is likely to have a cooling effect on those willing to lend or bank with these businesses.
 
Feel free to contact us for more information.
 


 
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!


Housing Starts Fall







The upward pressure on mortgage rates continued this week. Investors again favored stocks over bonds. Mortgage rates ended the week higher.

 
 
Thursday's report on housing starts was certainly disappointing, but a look below the surface indicates that it was not as bad as the headline figures suggest. In December, single-family housing starts declined 12% from November, which was far below the consensus forecast. This data is highly volatile from month to month, however
 
Single-family starts also are strongly influenced by the weather, and December saw particularly bad weather conditions in many parts of the country. Despite the drop at the end of the year, single-family starts in 2017 were 9% higher than in 2016. Another reason for optimism is that building permits for single-family homes, a leading indicator of future housing starts, increased in December.
  
As of noon EST on Friday, the experts are assigning about a fifty-fifty chance that there will be a government shutdown tonight at midnight. The House passed a bill to extend government funding, but the Senate is having trouble gathering enough votes. It's not clear what effect a government shutdown would have on mortgage rates, but it would not be good for the mortgage industry in many ways. Lenders would be unable to obtain case numbers to originate FHA loans. In addition, lenders are required to verify tax return information provided by borrowers with the IRS and verify social security numbers with the SSA. Delays in providing these services would postpone many loan closings.  
  
Looking ahead, Existing Home Sales will be released on Wednesday and New Home Sales on Thursday. The first reading for fourth quarter gross domestic product (GDP), the broadest measure of economic growth, and Durable Orders will come out on Friday. In addition, there will be a European Central Bank (ECB) meeting on Thursday which could influence U.S. mortgage rates. Investors will be looking for guidance about the pace of tightening by the ECB. 
  
  
  
My daughter Jenae's cheer competitions in Sacramento and San Jose!

 

 

 

 

 

 

 

 

 

 

 

 

Laith Al-Saadi from the Voice. Just Amazing! If you have a chance see him.
At the Blue Note again tonight!
 
 
Al Saadi at the Blue Note Napa


 

"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 February 10th, 2018 6:35 AM

 

 

 

Dear Gena, 

 

 

Best wishes for a Happy New Year filled with Hope and Promise!

 

 

Cheers!

 







 

 

 

 

_____________________________________________________________________________

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!

 

 

 

 

  Encouraging Housing Data

 



Strong housing data continued to roll in over the past week. In November, contracts signed to buy new homes surged 18% from October to the highest level since 2007. Contracts signed in November to buy previously owned homes also exceeded the expected levels. Despite the strong data, mortgage rates ended the week a little lower.

 

 

 

The recent inflation data also contained good news for the housing market. The core PCE price index revealed that core inflation, which excludes the volatile food and energy components, was just 1.5% higher than a year ago. While Fed officials have stated that they would like to see inflation rise to their target level of 2.0%, core PCE has remained close to the current level for most of the year.

 

Tame inflation is one reason that mortgage rates are ending the year a good deal lower than they were at the end of 2016.

 

Beyond low mortgage rates, there are other reasons to be optimistic about the housing market in 2018. Consumer confidence is at very high levels, partly due to a record high stock market and a low unemployment rate. In addition, one of the big factors holding back home sales activity in 2017, a lack of inventory, may be easing to some degree. Toward the end of the year, home builder confidence jumped to the best level in years and the pace of new construction picked up.  

 

Looking ahead, the important monthly Employment report will be released on January 5. 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 Tuesday and the ISM national services index on Thursday. The minutes from the December 13 Fed meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials. Mortgage markets will close early at 2:00 et on Friday and will be closed on Monday.

 

 

We had an awesome family brunch on Christmas Day!

 

 

 

 

My Oldest son Jake (L), Son Travis and his gf Hannah, and my daughter Jenae'

 

 

 

 

 

 

Oldest son Jake with daughter Jenae'




Cousin Vic & Laurel

 

 

"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

dale@clgroup.net

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 December 30th, 2017 4:25 PM

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