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


Remember those times you bought those new shoes  or expensive hand bag you had to have?  Or MEN...the latest power tool or riding lawnmower?  And then a week later you wonder if it was the right thing to do or if possible,  you missed out on some fabulous feature or should have picked something different...or...maybe....not have made the purchase at all at that time!?!
 
Buyers Remorse.....we have all experienced it at one time or another.  The good thing is that most of the time we can return the purchase in question and get our money back...or at the very least....store credit.
However.....that isn't the case with the purchase of a new home or rental property!
 

 

According to this Realtor.com 

 

info.........(click here)
 

 

 


 
.....see the 9 things most buyers eventually "regret" overlooking when buying that new home.

  Much research goes into purchasing a home.  Potential buyers get Home Inspections, check out the school district and may even determine if the night life suits their needs. Unfortunately too many buyers often realize they have

 

Look at these 9 things for "no BUYER regrets"!






















 
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!
 ECB More Dovish
  
This week's movement in mortgage rates was mostly due to a more dovish investor outlook for the European Central Bank (ECB). The economic data caused littlereaction. Mortgage rates ended the week lower.
  
For years, the ECB has had a program in place to purchase massive quantities of bonds. The most recent extension of the program consists of buying 60 billion euros per month through December. This added demand has helped push bond yields lower around the world, including U.S. mortgage rates. Investors have been speculating for months about when the ECB will begin to scale back (taper) its bond purchases. On June 27, ECB President Draghi surprised investors by indicating that the extension of the bond purchase program next year might be at reduced monthly levels, and global bond yields moved higher. Recently, however, comments from ECB officials have become more dovish, meaning that the ECB may be less eager to scale back its stimulus programs as soon as some investors had thought. At Thursday's ECB meeting, Draghi provided just the vague guidance that the discussion about tapering should take place "in the fall." The apparent lack of urgency to taper helped mortgage rates improve over the last two weeks, nearly back to the levels seen before the comments on June 27.
  
One of the few bright spots in the recent U.S. economic data came from the housing sector this week. Despite a lack of inventory in many markets, a disturbing trend had appeared to be developing, as housing starts had declined in March, April, and May. However, the report for June released on Wednesday suggested that the three months of declines merely reflected that the data is highly volatile over the short-term.




  In June, single-family housing starts jumped 6% from May, and the results for May were revised higher as well. Single-family housing starts were 10% higher than a year ago. Similar gains were seen for building permits for single-family homes in June. They were 9% higher than a year ago. 
Looking ahead, the next Fed meeting will take place on Wednesday
No change in the federal 
funds rate is expected, but investors will be looking for guidance about future monetary policy.
 Before that, Existing Home Sales will be released on Monday and New Home Saleson Wednesday. Durable Orders, an important indicator of economic activity, will come out on Thursday.
The first reading for second quarter GDP, the broadest measure of economic activity, will be released on Friday. In addition, there will be Treasury auctions on Tuesday,Wednesday, and Thursday
  



 
Summer Fun with Family continue's....


My mom's 89th b-day celebration on Tuesday, the 18th at my house in Napa was nice.
 

www.facebook.com
/
emilydigennaro

Grants Pass, OR

 

My sister Penny was here from Oregon as well and my brother Bruce and his wife Riva from Rhode Island too! Mom went back to the East Coast with them!
 
  

 

 
 
 
My son Jake & my daughter Jenae' made it all that much sweeter.  :-)



 

"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
Custom Lending Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
Posted by Dale DiGennaro on July 23rd, 2017 9:02 AM








More options for your mortgage....new products!

Dear Gena,

I am hoping that you are having a great summer so far and enjoying some family fun time!
With the kids out of school....its good times and adventures for all!
There is so much to do right here in California...as my daughter Jenae' and I just experienced when we recently joined some of my family, on a rafting trip at the south fork of the American River just outside of Coloma, in gold country!  See the pics below.  It was amazing!

In the mortgage news...
We now have a 1% down payment loan available on 30 year fixed rates!

Great 3/1 & 5/1 ARM "Interest Only" rates in the high 2 to low 3% range...or inquire about our 2/1 fixed rate buy downs and get a low, 2% first year rate, 3% year two & 4% years 3-30!

Lots going on this summer so take advantage...Enjoy! 


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!
                                                                  
            




GDP Falls Short
 
Wednesday's Fed meeting contained no major surprises and the reaction was positive for mortgage rates. Weaker than expected economic growth data also was favorable for rates. As a result, mortgage rates ended the week lower.
 
As expected, the Fed meeting concluded with no change in the federal funds rate. The Fed statement modestly upgraded its assessment of the U.S. economy. In particular, the labor market has "strengthened" and consumer spending has been "growing strongly." However, the overall tone of the statement was less hawkish than investors had expected, and mortgage rates improved a little after its release.
 
Mortgage rates also improved following the release of Friday's disappointing GDP data. Second quarter gross domestic product (GDP), the broadest measure of economic growth, grew at a rate of just 1.2% in the second quarter, far below the consensus of 2.6%. This was the third straight quarter of growth below 2.0%. Consumer spending was strong during the second quarter, but business investment was weak.
 
Recent reports showed that the housing sector remained a bright spot for the U.S. economy. Similar to the results for previously owned homes, sales of new homes rose in June to the best levels in about eight years. The pending home sales report showed a small increase in June. This report measures contracts signed for the purchase of previously owned homes. Once again, these two reports likely would have been even better except for a low supply of homes available for sale.
 
 
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 come out on Monday. The core PCE price index, the Fed's preferred inflation indicator, will be released on Tuesday. The ISM national services index will come out on Wednesday. In addition, the Bank of England meeting announcement could influence U.S. mortgage rates on Thursday.
 
 

Rafting with my family in Coloma
Jenae' & I got the back!
        
                                   
Here we go!





NO WORRIES.....WE MADE IT!



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  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 January 10th, 2017 5:03 PM
Meetings at Capital in Sacramento to save you money!
This week we spent a day in Sacramento meeting with Senators and assemblymen/women or their staff on several pending bills that we would like votes for to lower the expenses for you to get a loan!

This year we were there to support AB1645 which would prevent the automatic re-enactment of the amount of mortgage guaranty insurance that an M.I. company can write when you have a down payment of less than 20%...AB1736 which creates a "Homeownership Savings Account" (much like the pre-tax dollars for the Health Insurance Industries HSA programs)...and AB2668 which provides that the base year value of an original property, if owned by a person who is severely disabled or over 55 years of age, may be transferred to a new purchase of greater value. 

We had a good reception at the capital and most were willing to support these positive bills since it means less money for all our clients to get into a new home or save money on the one they are in!



Below you will see the "Daily Rate Lock Advisory" tool which will assist you in knowing when the best time is to lock in a loan.  In addition, 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.  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!

 

DAILY RATE LOCK

Friday, May 13th   |   Get Full Report
+4/32

BONDS

30 yr - 1.73%
-59

DOW

17,661
-4

NASDAQ

4,733
A few factors potentially impacting mortgage rates right now include:
  • Producer Price Index (PPI)
  • Retail Sales
  • University of Michigan Consumer Sentiment (Prelim)
Get the full report on how these factors could influence your mortgage rate on our mortgage commentary page.


CLICK HERE to sign up and Get the full report (daily or weekly) on how these factors could influence your personal mortgage rate and receive suggestions on when to lock.

________________________________________________________________________________________

Retail Sales Jump 
 
The economic data released over the past week was generally better than expected. Strength was seen in retail sales, the labor market, and consumer sentiment. As a result, mortgage rates ended the week a little higher, but they remain near the best levels of the year. 
 
         After a slow start to the year, Friday's report on retail sales went a long way to increase optimism 
   about stronger economic growth during the second quarter. April retail sales, excluding the volatile auto   component, jumped 0.8% from March, which was far more than expected. It was the largest monthly gain in nearly 
a year. The results for March also were revised higher. 
 
Despite what appeared to be a weak report on jobless claims, this week's labor market data was encouraging. A spike in jobless claims was seen, but this was due to a strike at Verizon. Nice gains were seen in the JOLTS report, which measures job openings and labor turnover rates. The JOLTS report helps to provide a broader picture of the performance of the labor market. Job openings in March increased to levels which were very close to record highs. The "quits rate" also was at levels consistent with a healthy labor market. Employees are more likely to voluntarily leave their jobs if they are confident that they will find a better job.
 
 
Looking ahead, Housing Starts, Industrial Production, and the Consumer Price Index (CPI), a widely followed monthly inflation report, will come out on Tuesday. CPI looks at the price change for goods and services which are sold to consumers. The Fed Minutes from the April 27 meeting will come out on Wednesday. These detailed minutes provide additional insight into the debate between Fed officials and have the potential to significantly move markets. Existing Home Sales will be released on Friday. 
 
                                    NMLS#298353/845079   CalBRE# 966782/944064
Meeting with Bill Dodd's Office.
Half of our group of 50 that represented both Northern & Southern CA

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  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 May 16th, 2016 2:55 PM
"Always looking out for your best interest!"
 This week has been a busy week working loans from my room in Hilton Head, SC while attending the NAMB (National Association of Mortgage Brokers) East convention! I have been looking at the newest products & programs, as well as the latest technology and apps to make the loan process more simplified and an easier process for all! I was also a panel contributor, with 3 other Mortgage Brokers from across the nation to share best practices, compliance and other commonalities throughout our industry with my peers from across the U.S. I am happy to be implementing some of these into my current business practice to consistently strive for a better overall customer experience.
 (I've included a couple photos below.)



In our on-going efforts to help more borrowers qualify for homeownership, Custom Lending Group is pleased to announce the addition ofHomeReady™ by Fannie Mae to our current line of product offerings.HomeReady™ is designed to assist low to moderate income borrowers with homeownership. However, there are no income limitations for most of Napa and the program is NOT limited to first time home buyers.

HomeReady™ product highlights include:
 
* Down payments as low as 3%
* Extended household members income may be used to help you qualify
* Savings over the life of the loan...with private mortgage insurance...that can be cancelled when appropriate   and is typically less expensive
* Available for Purchase or Refinance loans on Fixed Rate and Adjustable Rate Mortgage
* No price adjustment for HomeReady™, however other price adjustments may apply
* Co-borrowers do not need to reside in the home
* Boarder income may be used to help with qualifying
 


ECB Adds Stimulus 
 
The big event over the past week was Thursday's ECB meeting. The stimulus measures announced by the ECB made investors more willing to own riskier assets such as stocks, which was negative for safer assets such as bonds. The small amount of U.S. economic data released over the past week had little impact. As a result, mortgage rates ended the week higher. 
 
The European Central Bank (ECB) added to its stimulus program to help boost economic growth and raise inflation. The actions included cutting key interest rates and increasing the size of its asset purchase program to 80 billion euros each month from 60 billion previously. Increased demand for bonds from the ECB helps keep down yields around the world, including U.S. mortgage-backed securities (MBS). These measures were essentially in line with investor expectations, however, so their effect on mortgage rates had already been factored in. 
 
The ECB also announced other changes designed to help the banking sector, and these were unexpected. These measures made riskier assets such as stocks more appealing to investors. When investors show a preference for adding risk, they often reduce their exposure to safer assets, including MBS, which is not good for mortgage rates. 
 
While recent readings have shown that inflation is rising, one area has continued to exert downward pressure. The cost of imported goods dropped in February for the eighth straight month. A big reason for this has been the decline in the price of oil. Even excluding oil, the cost of other imported goods has been dropping. Lower prices for imported goods reduce inflation, which is positive for mortgage rates.
 
 
Looking ahead, there will be a Fed meeting and press conference on Wednesday. No change in the federal funds rate is expected, but the comments from the Fed could have a significant impact. Before that, Retail Sales will be released on Tuesday. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator. Housing Starts, Industrial Production, and CPI will come out on Wednesday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, looks at the price change for goods and services which are sold to consumers.
 
 
Dale DiGennaro speaking on a panel at NAMB East  in Hilton Head
Dale on panel at NAMB East in Hilton Head SC
Speaking at NAMB East
Custom Lending Group_s 30 year anniversary in mortgage lending.


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
Custom Lending Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
Posted by Dale DiGennaro on March 14th, 2016 7:25 PM
  lett
From the desk of…                           

Dale DiGennaro

E-MAIL ME
(707) 252-2700
Custom Lending Group
 
February Newsletter
Pre-qualified or pre-approved for a loan?
Are you pre-qualified or pre-approved for a loan? Before you start to shop for a new home, you should set up a time to meet with me so we can figure out how much you can afford. This will put you in a better position as a buyer. That's when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. The difference between the two terms will be crucial when you decide to make an offer on a house.

To get pre-qualified for a loan, I'll collect information about your debt, income, and assets. We'll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. I'll issue you a pre-qualification letter indicating the amount you're pre-qualified to borrow.

It's important to understand that a pre-qualification letter is just an estimate of what you're eligible to borrow, not a commitment to lend. Getting pre-approved for a loan gives you competitive advantage when the time comes to bid on a home because you've been approved for a loan for a specified amount.

To get pre-approved, you'll complete a mortgage application and provide me with various information verifying your employment, assets and financial status such as W-2 forms, bank records and credit card statements. Once the application process is complete you'll receive a pre-approval letter indicating the amount your lender is willing to lend you for your home.

A pre-approval letter isn't binding on the lender; it's subject to an appraisal of the home you wish to purchase and certain other conditions. If your financial situation changes (e.g. you lose your job), interest rates rise or a specified expiration date passes, we must review your situation and recalculate your mortgage amount accordingly. 

Wage Growth Picks Up

Most of the economic data released over last week fell short of expectations. However, strong wage growth in Friday's employment report offset some of the weakness perceived in the other data. Mortgage rates ended last week a little lower.

Against a consensus forecast of 190K, the economy added 151K jobs in January. This was down from average gains of about 280K over the prior three months. The unemployment rate declined from 5.0% to 4.9%, the lowest level since February 2008.

While job gains in January were a little lower than expected, investors focused more on the surprisingly strong wage growth. Average hourly earnings, an indicator of wage growth, rose 0.5% in January, which was well above the consensus forecast. Investors raised their outlook for future inflation based on the wage data, forcing mortgage rates a little higher after the report.

By contrast, nearly all of the data released earlier last week was positive for mortgage rates. U.S. manufacturing activity has slowed sharply in recent months. The ISM national manufacturing index is at the lowest level since 2009. The stronger dollar and weakening demand in other countries have hurt the sector. Manufacturing makes up a relatively small portion of U.S. economic activity, though. More disturbing to investors, the ISM national services index declined to the lowest level since early 2014. The service sector represents over 80% of the U.S. economy.

Looking ahead, additional labor market data, the JOLTS report, will come out on Tuesday(tomorrow). JOLTS measures job openings and labor turnover rates.Retail Sales will be released on Friday. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator. Fed Chair Janet Yellen will be speaking on Wednesday and Thursday. There will be Treasury auctions on TuesdayWednesday, and Thursday.


Get crafty this Valentine's Day
As Valentine's Day gets more and more commercialized, it seems like it just keeps getting more expensive to celebrate (especially if you have a significant other). But it's always a fun holiday for kids too, and there's no need to spend too much. One of the best ways to celebrate is with some homemade craft time.
Check out this article full of Valentine's Day crafts for kids. 

The Kiwanis Club of Greater Napa is hosting their annual 5K Run/Walk event on March 6, 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.
 
Dale DiGennaro  •  Custom Lending Group    (707) 252-2700  •  dale@clgroup.net
NMLS#298353/845079  CalBRE#966782/944064
 

Posted by Dale DiGennaro on February 8th, 2016 2:57 PM
The Federal Reserve Raised the Rate!  Now what?
Its hard to believe that January 2016 has come and gone already!  As most of you know...on December 16th the Fed made a statement that they were going to indeed raise the rate and did just that!  
However....regardless of the fear put into us about rates going up....the exact opposite has happened! Although the Federal Reserve has begun to raise short rates...15 & 30 year mortgage rates are lower than they have been in the past 3 months!  
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!

Last Week I was at CALIFORNIA ASSOCIATION OF MORTGAGE PROFESSIONALS CONVENTION!
Held at the Hyatt close to Disney in OC.  Many topics were covered and lots of lenders were present promoting expanded guidelines, lower fico scores, multiple past housing events (ie BK, shortsale/foreclosure etc) in past few years!  Of course this comes at a bit higher rate but allows many more Americans to achieve the dream of home ownership and applies to jumbo loans as well!
       
Dale DiGennaro on CAMP Top Producer panel Jan 2016
Dale DiGennaro on California Association of Mortgage professionals top producer panel 2016


          



Mortgage Rates Helped by Central Bankers 
 
Over the past week, central bankers in the U.S. and Japan acknowledged the slowdown in global growth, which was positive for mortgage rates. Recent economic reports supported the outlook for slower economic growth. As a result, mortgage rates ended the week lower.
 
While Wednesday's Fed statement was consistent with the message predicted by analysts, investors responded by selling stocks and buying bonds. As expected, the Fed made no change in the federal funds rate or in its reinvestment policy for its Treasury and MBS holdings. In the statement, Fed officials modestly downgraded their assessment of the performance of the U.S. economy, and they expressed less confidence that inflation is on their expected path to rise to their target level. In addition, Fed officials said that they are "closely monitoring" developments in overseas economies. Some investors had hoped that the Fed would explicitly rule out a rate hike at the next meeting in March, but the statement kept open the possibility. 
 
Friday's surprise move by the Bank of Japan (BOJ) was positive for global bond markets. The BOJ announced that it was cutting short-term rates to try to boost economic growth and inflation. While the BOJ made no change to its massive bond buying program, BOJ officials expressed a willingness to expand the program in the future if necessary. The BOJ announcement was favorable for U.S. stocks and mortgage-backed securities (MBS).
 
The two biggest U.S. economic reports released over the past week did nothing to conflict with the outlook for slower growth. Fourth quarter Gross Domestic Product(GDP) increased just 0.7%, down from 2.0% during the third quarter. For the entire year, GDP rose 2.4%, matching the level seen in 2014. Durable orders in December declined 5% from November, which was much weaker than expected. 

 
 
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 and the Core PCE price index will be released on Monday. Core PCE is the Fed's preferred inflation indicator. The ADP Employment Change and the ISM national services index will come out on Wednesday.


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
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Custom Lending Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
Posted by Dale DiGennaro on February 2nd, 2016 9:55 AM
 
From the desk of…           

Dale DiGennaro

E-MAIL ME
(707) 252-2700
Custom Lending Group
 
December Newsletter
4 Mortgage mistakes homebuyers make
Buying a new home is a fun and exciting time, but finding the best mortgage option for your specific situation may not be so thrilling. Make sure you check out these common mistakes, as well as doing some research and certainly call us with any questions you may have.
  • Not getting pre-approved for a mortgage: Don't let the excitement of buying a new home keep you from taking the time to apply for a home loan. Contact us to discuss various mortgages available and we will help you choose the one that suits you best. Do this before the home search so you can ensure you are only looking at houses within your budget. Most Realtors want to see a pre-approval letter from a reputable lender prior to showing properties.
  • Not checking your credit score: You should not begin any part of the home search or loan process before knowing and understanding your credit score. If your score is low, spend time first focusing on raising your credit score. At Custom Lending...we can help with that too!  Remember that a low credit score may mean limited loan options and higher interest rates.
  • Thinking "adjustable rate" mortgage isn't a good option: An adjustable rate mortgage (ARM) offers you a low rate of interest for the first two to five years after taking out the loan. This may allow you a better qualifying option than you would normally have with a fixed....and a potential for a lower starting interest rate and possibly "more house".  However, it is not right in every situation so should be discussed with your lender.
  • Making verbal agreements with your lender: Make sure everything you have discussed is also found in a written agreement. Jot down rate quotes, fees, prepayment penalties, and other key terms in order to avoid any surprises in the future. Be sure everything that is stated is clear to you and if not....ask for clarity.  You can also find lots of useful information regarding loan products, qualification & loan process and much,much more on our website at www.customlending.net!

Oil Prices Fall

Mortgage rates are affected by many different market forces. Often it is economic data and its impact on the outlook for inflation. This week, the biggest influence on mortgage rates came from the drop in the price of oil and its effects on the stock market. Stocks declined, and mortgage rates ended the week a little lower.

The price of oil declined during the week to the lowest level in seven years. This is great for consumers, but has mixed effects on financial markets. The drop weighed heavily on energy stocks and concerns spread throughout the broader stock market. Investors sold stocks and bought safer investments like government-backed mortgage-backed securities (MBS). The added demand for MBS pushed mortgage rates lower.

With more cash in their pockets from lower gas prices, consumer spending in other areas showed solid improvement in November. After three disappointing months, retail sales, excluding volatile auto sales, rose nicely. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator.

Next week, the highly anticipated Fed meeting will take place on Wednesday. If the Fed raises the federal funds rate as widely expected, investors will be looking for guidance about the pace of future rate hikes. Before that, the consumer price index (CPI), the most closely watched monthly inflation report, will come out on Tuesday. Industrial Production, an important indicator of economic activity, and Housing Starts will be released on Wednesday.


Create a plan to save big this holiday season
Of course the holidays are supposed to be happy, but the stress of shopping and spending money can make life a little hectic. With all the cheer, caroling, and gift giving, you may feel like you are in a money trap, but we have a plan for you to save big this year.
  • Start shopping early. Try shopping a little earlier in the year. Certain items go on sale during different seasons, and you may get a better deal in the summer than you will on Black Friday!
  • Experiment with shopping online. Search for coupon codes, avoid shipping fees, and subscribe to e-mail lists to stay on top of deals and promotions.
  • Always research prices. The first place you find something may not be the best price. There are lots of sites and apps that pop up around the holiday season that help you find the best deal. ShopSavvy and The Find are two apps that let you scan barcodes to compare prices in your area! This can help you save both time and money.
Stay organized and keep a list of what you have purchased and what you still need to buy. Before you begin any shopping, create a plan of who you need to buy for and what you are going to get them. This way you can prevent yourself from buying anything and everything you see.

With these quick and easy tips you will be a shopping expert by the end of this season.
 
Dale DiGennaro  •  Custom Lending Group    (707) 252-2700  •  dale@clgroup.net
CalBRE: 966782/944064  NMLS: 298353/845079
 
Posted by Dale DiGennaro on December 15th, 2015 11:35 AM
 
From the desk of…

Dale DiGennaro

E-MAIL ME
(707) 252-2700
Custom Lending Group
 
Fourth Quarter
Your new home loan: tips for success
Here are some tips to consider when shopping for your new home or investment property. By following these steps, you can go into the buying process with a better idea what to expect, and have a better chance of getting the loan, and home or property, you want.
  • Look into a mortgage before shopping for a home or additional property(s). This will establish a price range based on how much you can qualify to borrow. This avoids getting your hopes up on a home that may be outside of the price range you are comfortable with.  Use one of our calculators to assist you or call me and I will work with you to determine what makes sense.
  • Be sure to "equally" compare multiple mortgage quotes. Make sure to pay close attention to lender fees and discount points because they can offset any savings indicated by just comparing the rates alone.  Also, inquire as to what lender credits may be available to help offset costs of obtaining the loan.  In many cases you may be able to get all or most of your closing costs covered.  Go on to make a list of questions about each quote. Avoid lenders that seem too busy or uninterested with your problems and concerns. The best loan is dependent on good communication.
  • Don't be afraid to negotiate to receive the best loan. During this mortgage search process, keep in mind your short and long term goals such as career, retirement plans and your family. There are many mortgages available to suit your current situation as well as future plans.  Operating as a mortgage "broker" allows me to search lenders nationwide to get the best product for your needs.  In order to gain a seller's attention, always get pre-approved for a mortgage. This will put you first in their mind if there are multiple offers on a home.
  • Trust your instinct. Common sense,  intuition and education are valuable tools that can help mortgage shoppers avoid mistakes. There are many tools and alot of information at www.customlending.net that will help you understand the process and different loan types. And last..... If questions or concerns are dismissed, or a loan officer says not to worry about completing or signing mortgage documents, it's time to find another lender.

Mortgage Time

Mortgage Market News for the week ending October 09, 2015

Compliments of

DaleDiGennaro

Owner | NMLS: 298353 | 966783

Custom Lending Group, Inc.

Co. NMLS: 845079 | 944064

Office: 707.252.2700 - Ext. 109Cell: 707.738.0878
Fax: 707.252.1319

dale@clgroup.net
www.customlending.net/Home

1700 Soscol Avenue

Suite 22

Napa,CA94559





Stocks Rally, Rates Rise

Demand shifted from bonds to stocks over the past week. The economic data had little impact. As a result, mortgage rates ended the week a little higher.

Under most circumstances, mortgage rates improve when stocks decline, and the reverse is true as well. We have seen an example of this relationship over the last few weeks. During the second half of September, stocks declined and mortgage rates improved. The trend has reversed, however, as the Dow has climbed about 600 points over the past week, while mortgage rates have risen.

There were no major surprises in the Minutes from the September 17 Fed meeting released on Thursday. The Minutes revealed that Fed officials held off on a rate hike due to uncertainty that inflation will rise to their 2.0% target level. The Minutes also noted that weakness in other countries added to the downside risk for economic growth and inflation in the U.S. Since the September 17 Fed meeting, the U.S. economic data has indicated slowing growth, justifying the Fed's decision and adding pressure for the Fed to hold rates steady longer.

Looking ahead, Retail Sales will be released on Wednesday. Retail Sales account for about 70% of economic activity. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Thursday. Industrial Production, another important indicator of economic activity, and the JOLTS report will be released on Friday. JOLTS measures job openings and labor turnover rates. Mortgage markets will be closed on Monday in observance of Columbus Day.

 


Creating the perfect guest experience
November signals the start of the holiday season, which often means the start of holiday house guests as well. Don't let the idea of family staying at your house stress you out too much with these helpful tips.
  1. Outfit your spare room for happy guests. It's easy to forget what your spare bedroom is missing until someone needs to stay there. Ensure your room has good bedside lighting, hooks and hangers for guests to use, plenty of pillows, bath towels, and perhaps even some snacks for them to enjoy.
  2. Ask in advance. Be sure and find out if any guests will have special allergy or dietary needs. If children will be staying, ask if there are special foods they prefer.
  3. Give your guests a plan. If you have any special events or activities planned, let you guests know in advance in case there is anything special they need to pack.
  4. Explain anything odd about your house. You would hate to leave your guests searching for an outlet or dealing with a dripping sink. If there are any quirks about your house that guests need to know, explain them when they arrive.
 
Dale DiGennaro  •  Custom Lending Group  •  (707) 252-2700  •  dale@clgroup.net
 

Posted by Dale DiGennaro on October 13th, 2015 12:09 PM
WE CAN HELPThe fact is, most people don’t have enough for a home down payment.
   
Find answers with our online mortgage calculators!
Mortgages can be intimidating. But you don’t have to waste hours on research. We have many of  the answers right on our website! From downpayment assistance to qualifying for the right product... Let our mortgage professionals walk you through buying, refinancing or getting cash in hand...step by step. We have solutions that will fit any family’s needs.
www.customlending.net(707) 252-2700

Mortgage Time

Mortgage Market News for the week ending June 19, 2015

Compliments of

DaleDiGennaro
Owner | NMLS: 298353 | CalBRE: 966783

Custom Lending Group, Inc.
Co. NMLS: 845079 | CalBRE: 944064

Office: 707.252.2700 - Ext. 109Cell: 707.738.0878
Fax: 707.252.1319

dale@clgroup.net
www.customlending.net/Home

1700 Soscol Avenue

Suite 22

Napa,CA94559




Focus is on Greece

Worries about Greece had the greatest impact on mortgage rates over the past week. The Fed statement and the U.S. economic data caused some volatility, but had little net effect. Mortgage rates ended lower.

A lack of progress in the negotiations between Greece and its creditors has raised concerns for investors. Neither side has indicated much willingness to compromise over required reforms. Without a bailout, Greece likely will default on debt payments due on June 30. The response of investors to the uncertainty about the global impact of a default has been to shift to safer assets such as German and U.S. government bonds, including mortgage-backed securities, helping mortgage rates improve.

There were no major surprises in Wednesday's Fed statement or Fed Chair Yellen's press conference. The guidance for the timing of the first federal funds rate hike remained unchanged and will depend on the future performance of the economy. The consensus now is that continued improvement in the economy will justify a rate hike in September.

The Fed's stated target level forcore inflation is 2.0%. In recent months, core inflation has remained below this level. For example, the Consumer Price Index data released over the past week revealed that core inflation in May was just 1.7% higher than a year ago, down from an annual rate of 1.8% last month. The trend this year had been for rising inflation, so the May data was a welcome reversal.

Looking ahead, investors will remain focused on the situation in Greece. An emergency meeting between Greek officials and the creditors has been scheduled for Monday. In the U.S., Existing Home Sales and New Home Sales will come out early in the week. Durable Orders, an important indicator of economic activity, will be released on Tuesday. The Core PCE price index, the Fed's preferred inflation indicator, is scheduled for Thursday. In addition, there will be Treasury auctions on Tuesday,Wednesday, and Thursday.

TRID effective date pushed back to October

The Consumer Financial Protection Bureau has announced it will delay the effective date of the
 "Know Before You Owe"  rule.

The rule was originally set to go into effect Aug. 1. It will require new rules that consolidate the TILA-RESPA forms, and is intended to allow consumers more time to go over the cost of their mortgage. The intent was also to have the opening "estimated fee's" match the final closing statement.  Many of us, in the mortgage industry, however, are worried that implementation of the rule will lead to costly delays as originators and lenders settle into these new regulations.
Posted by Dale DiGennaro on June 20th, 2015 7:39 PM

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