Napa Mortgage News




 
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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!
 
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 shows.....one 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!"


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

We truly appreciate your business and hope you'll keep Custom Lending Group in mind the next time you're looking for a loan. We're just a phone call or mouse click away!

Sincerely,
Dale DiGennaro
Custom Lending Group
(707) 252-2700
www.CustomLending.net



To many Americans, Labor Day marks the end of the summer, a day off from work and school, and one last chance to relax. But Labor Day is much more than just a day off. It represents a very important victory for laborers everywhere. The holiday is a celebration of the social and economic achievements of American workers.

Fighting for Change

More than a century ago, workers were forced to deal with harsh conditions. They were paid very little, and they often worked 10- to 12-hour days. Men, women and even small children were forced to work even when they were sick.

Tired of long hours and dangerous conditions, workers began organizing themselves into labor unions. On top of fighting for higher pay and shorter workdays, they also fought for the rights of children. The workers wanted employers to place limits on the age of their workers so that small children were not overworked or hurt in factories.

Peter McGuire is often called the 'father' of Labor Day. He came up with the idea for the holiday in 1882.


Peter McGuire is often called the "father" of Labor Day. He came up with the idea for the holiday in 1882.
A Holiday for Workers

A New York City carpenter named PetecGuire is credited for coming up the idea for Labor Day. In 1872, after working many long hours under poorconditions, McGuire rallied 100,000 workers to go on strike. The workers marched through the streets of New York City, demanding a better work environment.

McGuire spent a decade fighting for worker's rights. In 1882, he proposed the idea to create a special holiday for workers. On Tuesday, September 5, 1882, more than 10,000 workers hit the streets of New York City for the first ever Labor Day parade. Two years later the celebration was moved to the first Monday in September. And in 1894, Congress passed a law making Labor Day a national holiday.

A Relaxing Celebration

Americans celebrated the first Labor Day holiday with a parade, picnics and fireworks. Today, many people hit the road to enjoy the last of their summer vacation. Others enjoy the long weekend with picnics, backyard barbecues or just rest and relaxation.

However you spend Labor Day, remember that the holiday is a time to pay tribute to the workers who have made America what it is today.

Economic Data Falls Short

 

The two most important economic reports released this week both fell short of expectations. Despite these results, mortgage rates ended the week with little change.

 

 

Friday's Employment report was mildly disappointing. Against a consensus forecast of 175,000, the economy added 151,000 jobs in August. Despite the slower pace in August, the economy has added an average of 232,000 over the last three months. The unemployment rate remained at 4.9%. Average hourly earnings, an indicator of wage growth, fell slightly short of expectations.

 

 

Another important indicator of economic activity also missed to the downside. The ISM national manufacturing index fell to 49.4, well below the consensus forecast, and the lowest level since January. Readings below 50 signal a contraction in the sector. The report suggests that manufacturers continue to face headwinds from a stronger dollar, economic weakness overseas, and reduced spending on machinery and other large equipment from U.S. businesses.

 

These two reports did little to settle the question of whether the Fed should raise the federal funds rate at its next meeting on September 24. According to futures markets, investors have assigned about a 25% chance of a rate hike at this month's meeting, just slightly lower than before the two reports.

 
 

Looking ahead, the most significant economic event likely will be Thursday's European Central Bank (ECB) meeting. The ECB announcement often has an impact on U.S. mortgage rates. It will be a light week for U.S. economic data. The ISM national services index will be released on Tuesday. The JOLTS report, which measures job openings and labor turnover rates, will come out on Wednesday. The Fed's Beige Book also will be released on Wednesday.

 
 


Posted by Dale DiGennaro on January 13th, 2017 2:08 PM

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