Napa Mortgage News


Would you like to retire with $1.5 million?  Here's how much you would have to save every month!
If you're aiming for $1.5 million by age 67, here's exactly how much money you need to set aside per month. The chart, provided by NerdWallet, assumes a 6 percent average annual investment return. The green bars represent how much you need to save and the blue bars represent your investment return.



 
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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!
Fed Raises Short-Term Rates
 
The two biggest economic events last week, Wednesday's Fed meeting and Friday's inflation data, both were favorable for mortgage rates overall, and rates ended slightly lower. 
 
As widely expected, the Fed raised the federal funds rate, the overnight rate at which banks lend reserves to each other, by 25 basis points, and the statement released following the meeting contained no significant surprises and had little
 net impact. However, bond-friendly comments from Fed Chair Powell during his press conference were modestly favorable for mortgage rates. In particular, Powell said that Fed officials don't see inflation surprising to the upside (higher inflation is bad for mortgage rates). Most investors expect another rate hike at the December meeting.
 
Consistent with the Fed's outlook, the data released on Friday revealed that inflation was slightly lower than expected, which was good news for mortgage rates. In August, the core PCE price index, which excludes the volatile food and energy components, was 2.0% higher than a year ago, the same annual rate of increase as last month. This is the monthly inflation indicator favored by Fed officials, and 2.0% is their stated target level. 


The most recent report on consumer confidence showed an unexpectedly large increase to the highest reading since September 2000. Some of the factors behind the surge in optimism about the economy include a healthy labor market, an increase in the pace of wage growth, and stock markets near record 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 be released on Monday and the ISM national services index on Wednesday. 
 
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Fun with friends and family over the weekend.  Got to spend time with my aunt & uncle and my sister Lisa...along with some friends that were up from SoCal....breakfast in Yountville and then a tasting at Domaine Chandon, taking in a concert at the Blue Note as well as seeing a band from my past "Orleans" at Silo's!  Always plenty to do in the Napa area! 

 

"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 26th, 2018 7:11 PM
The Federal Reserve Raised the Rate!  Now what?
Dear Gena,
Suddenly, we are heading into the last week of February!!  Unbelieveable how fast the time is going by!
I hope you all had a great valentines day celebration and enjoyed the long weekend too!
As we all start to think about taxes....yes....that again.....be sure to consult your cpa for advice if you are considering a loan over the next year as well as for any additional deductions you may be eligible for due to your mortgage or rental properties. 
Also.....If you are curious whether you have the best interest rate & product you can currently get.....give us a call and we will do a quick mortgage review to see if we can save you some money!

Reverse Mortgages
are on the rise and for good reason.  They are a great way to use the equity in your home without having to sell it!  And...most people don't realize they can be used for purchases as well...and doubles your buying power!

The best part is...the money can be used any way you see fit...
Home Improvements
Pay off Credit Cards
Cover Medical Expenses
Pay for Long Term Health Care
...as well as a solution to many other needs or desires you may have!

These loans are government insured and come with benefits such as... no monthly payments, no taxes to pay on the cash, you get to keep the title to your home, you can still sell your home at any time, use it to purchase a new home and...the best part is...your social security and medicare benefits will never be affected.

For more information or to use our calculator to determine whether you qualify (borrower must be 62)...go to www.customlending.net/reversemortgages or  CLICK HERE to watch a short video from one of the loan underwriters.


Higher Inflation 
 
Mortgage rates spiked higher late last week, as investors bought stocks and sold bonds. The volatility continued this week, but the net effect was favorable for mortgage rates. Despite an upside surprise in the CPI inflation data and stock market gains, mortgage rates ended the week a little lower. 
 
The Consumer Price Index (CPI) is the most widely followed monthly inflation indicator, and the readings for January were higher than expected. CPI was 1.4% higher than a year ago, which was the highest level since October 2014. 
 
                                                                                          
Core CPI, which excludes the volatile food and energy components, was 2.2% higher than a year ago, which was the highest level since June 2012. Economists often look at core inflation rather than the overall rate to get a clearer sense of the underlying trend. 
 
While some forces have helped hold down inflation over the past year, including the stronger dollar and lower oil prices, the service sector has remained strong and costs have been rising. In particular, shelter and medical costs have increased over the past year. Mortgage rates are highly influenced by the outlook for future inflation. If the trend toward higher inflation accelerates, it would be negative for mortgage rates. 
 
 
Looking ahead, Existing Home Sales will be released on Tuesday and New Home Sales Wednesday. Durable Orders, an important indicator of economic activity, will come out on Thursday. The Core PCE price index, the Fed's preferred inflation indicator, and the second estimate of fourth quarter GDP will be released on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.Thursday
 
 

The Kiwanis Club of Greater Napa is hosting their annual 5K Run/Walk event on March 6th, 2016. This event is in conjunction with the Napa Valley Marathon. It brings thousands of people together for fun,  exercise, and the opportunity to raise money for worthwhile causes. Some of the activities and organizations that will benefit from this event are the following:  Scholarships program for all Napa high schools, Heros and Helpers (Shop with a Cop), Back to School Events, Kids Day of Fishing, ParentsCAN, Lighthouse for the Blind, Napa Food Bank and Meals on Wheels. 
We would love to see you participate and Custom Lending has already sponsored a number of runner/walker spots!  So if you have an interest....let us know and we will cover the cost of your registration.
Thank you for always trusting in us to do the best for you and your family and please feel free to call me anytime with your questions.  I will be happy to share with you whatever information you may need!

Sincerely,

Dale DiGennaro, President
O:707-252-2700  C:707-738-0878
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 February 25th, 2016 7:21 AM

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