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.

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!"

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 26th, 2018 7:11 PM



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