Napa Mortgage News


Are you prepared for a disaster?
This year's wildfires, record rains, flooding, tornadoes, hurricanes and potential for earthquakes should all act as reminders that you should be prepared for a disaster. Sure, it will take some effort on your part and you may never be affected by a disaster, but if you are, you will sure wish you had been prepared. It can become a nightmare, whether it impacts you personally or your business. 

Business Owners If you are a business owner, unexpected events can have a devastating effect on your business. You need to be protected from any number of natural and unnatural events, such as fire, computer failure and illness or the loss of key staff, all of which can make it difficult or even impossible to continue day-to-day operations. 

Family and Home Just like a business, your family needs to have an emergency plan. They may be in different locations, such as school, work and home, when a disaster strikes. You need to have plans in place for where to meet if separated and a pre-planned evacuation route or action plan for unexpected disasters. The pre-planned evacuation route should avoid areas that can flood or are dangerous. It is good practice to never let the fuel level in your car(s) get below half-full, or let your electric car be less than half-charged, because the area may lose power, and gas stations may also be damaged by the disaster or run out of fuel. 
Records - We now live in a digital world, and if you are computer savvy, an easy way to keep your records out of harm's way is to store digital copies of the documents on a remote server (i.e., in the cloud). It may cost a few bucks a month, but the digital files will be there when you need them, regardless of what happens to your home or business location. If you aren't a fan of cloud storage, you should maintain an up-to-date backup of your computer files on an external hard drive or thumb drive(s), preferably with a copy stored in a secure location away from your home or office that is not likely to be affected by the same disaster. 

Disaster Scams - Whenever there is a disaster, lowlifes show up and try to scam generous individuals out of money intended to go to victims of the disaster. Don't you be another victim of the disaster - watch out for scammers claiming to represent charitable organizations, who will pocket the donations for themselves instead. Besides fraudsters soliciting on behalf of bogus charities, some so-called charities aren't entirely honest about how they use contributions. 
 


 
_____________________________________________________________________________
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!
Rates Inch Higher
 
Although this week's major U.S. economic data and European Central Bank meeting contained more good news than bad for mortgage rates overall, rates ended slightly higher. 



The most recent inflation data came in at lower than expected levels. The Consumer Price Index (CPI), a widely followed monthly inflation report that looks at the price change for goods and services, was just 2.2% higher than a year, down from an annual rate of increase of 2.4% last month. Lower inflation is positive for mortgage rates, but the reaction to the data was small. 
 
The Retail Sales report released this week was mixed. Excluding the volatile auto component, retail sales in August rose just 0.3% from July, which was below the consensus for an increase of 0.5%. However, the July results were revised higher by an amount comparable in size to the August shortfall. As a result, the data was essentially neutral for mortgage rates. 
 
Thursday's European Central Bank (ECB) meeting produced no significant surprises and had little impact on U.S. mortgage rates. The ECB lowered its forecast for economic growth this year and next, but confirmed its plans to wind down its massive 2.5 trillion euro bond purchase program by the end of this year. ECB officials also said that they plan to hold the benchmark interest rate at current levels at least through the summer of 2019.
 
Looking ahead, the housing data will be the main focus. The NAHB home builder confidence index will be released on Tuesday. Housing Starts will come out on Wednesday. Existing Home Sales will be released on Thursday.
 

All material Copyright © Ress No. 1, LTD (DBA MBSQuoteline) and may not be reproduced without permission.

My North Bay Chapter of the California Association of Mortgage Professionals (CAMP)
sponsored David Luna for our 8 hour NMLS
continuing education in Petaluma.

I'm good for another year!


Met Jenae' in San Francisco over the weekend to take in a Giants game!  
She is attending San Francisco State......very convenient!
And...The GIANTS won!!

 

"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 17th, 2018 8:06 AM

"Wishing fathers everywhere a very blessed day!" 

NINE EASY WAYS TO IMPROVE YOUR CREDIT SCORE!

While certainly no substitute for long-term financial responsibility, here are the easiest ways to raise your credit score.

1. Request a credit limit increase on existing accounts 
2. Apply for a new credit card to raise credit limit
3. Sign up for automatic payments
4. Check free annual credit report and dispute errors
5. Get a secured credit card
6. Monitor credit score monthly
7. Become an authorized user
8. Change payment due dates
9. Leave old accounts open
Read the full article with details HERE.





















 
_____________________________________________________________________________
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!
Focus on Central Banks 
 
The focus was on central banks this week. While the net impact of the U.S. Fed meeting was minor, the European Central Bank meeting was positive for global bond yields. As a result, mortgage rates ended the week a little lower. 
 
As expected, the Fed announced a 25 basis point federal funds rate hike at Wednesday's meeting. After the release of the Fed statement, investors focused on a small increase in the federal funds rate forecasts for 2018 and 2019 from the 15 Fed officials. This was viewed as hawkish, meaning in favor of tighter monetary policy. However, comments from Fed Chair Powell during his press conference later came across as more dovish than expected, meaning in favor of looser monetary policy. While there was some volatility following the meeting, the net effect on mortgage rates was small.
Since consumer spending accounts for roughly 70% of economic activity, the Retail Sales report is closely watched each month. Following the hurricanes, retail sales surged last fall, and the trend was expected to continue. They then turned negative for three straight months, leading to questions about the strength of the consumer earlier this year. 
 

On Thursday, the European Central Bank (ECB) announced that it will begin to wind down its bond purchases in September and will end them in December, which was anticipated. Investors were surprised, however, that officials said that the first rate hike will not take place until at least September 2019, later than expected. Global bond yields, including U.S. mortgage rates, moved lower after the news.
 
However, Thursday's release revealed that retail sales in May were much higher than expected, marking the third straight month of solid gains and further easing investor concerns about the economy.
Next week will be a light one for economic data. Housing Starts will be released on Tuesday. Existing Home Sales will come out on Wednesday. The Philly Fed regional manufacturing index will be released on Thursday.
 
Working remotely this week.......very remotely.....

 

"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
Posted by Dale DiGennaro on June 24th, 2018 8:54 PM

The good news is...homeowners have seen their equity increase 13.3 percent year-over-year in the first quarter of this year.
 
The average homeowner gained $16,300 in home equity between the first quarter of 2017 and the first quarter of 2018, with the greatest gains in California (an average of approximately $51,000 in home equity) and Washington (an average of approximately $44,000 in home equity).

On the flip side...Negative equity was recorded in 4.7 percent of all mortgaged properties during the first quarter, compared to 6.1 percent one year earlier.

"Home-price growth has accelerated in recent months, helping to build home-equity wealth and lift underwater homeowners back into positive equity the primary driver of home equity wealth creation," said Frank Nothaft, Chief Economist for CoreLogic.
"The CoreLogic Home Price Index grew 6.7 percent during the year ending March 2018, the largest 12-month increase in four years."

For the expanded version of this article which gets into today's lower rates, lender margins & House flipping...

What's the value of YOUR home?
 
(Using data from the Freddie Mac House Price Index (FMHPI), this tool can estimate the value of your home by considering the appreciation rate for your metropolitan area and your home's original purchase price and date. While the estimate may not be the actual or appraised value of your home, it can be a useful tool to size up fluctuations and trends in your market which affect your home's value.) 





















 
_____________________________________________________________________________
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!





Record Job Openings 



Following last week's stronger than expected labor market and manufacturing data, the reports released this week continued to suggest that the economy is growing at a solid pace. Since stronger economic growth raises the outlook for future inflation, mortgage rates ended the week higher. 
The JOLTS report measures job openings and labor turnover rates, and the Fed closely monitors this data. In April, job openings unexpectedly jumped to 6.7 million, a record high level. Of note, there were just 6.3 million unemployed people in the labor force that month. Until now, the number of job openings has never exceeded the number of job seekers since recordkeeping began in 2000. Investors will be watching closely to see if the tight labor market leads to a faster pace of wage increases, which would be inflationary and thus negative for mortgage rates.

The ISM national services index released this week also was stronger than expected as it increased to 58.7. Readings above 50 indicate an expansion in the service sector. Levels above 60 have been seen only a handful of times since this data began being tracked in the late 1990s.
 
Thursday was the most positive day for mortgage rates this week, but the reason was not clear. There was speculation that a large emerging market central bank was buying sizable amounts of U.S. bonds. Foreign central banks routinely buy and sell U.S. bonds to adjust the level of their currency reserves, so this explanation is plausible. Unfortunately, though, these transactions are not publicly disclosed, meaning that there is no way to confirm if this is what took place.

Next week will be packed with major economic news. The next U.S. Fed meeting will take place on Wednesday, and investors widely expect a 25 basis point federal funds rate hike. Then there will be a European Central Bank (ECB) meeting on Thursday. There has been speculation that the ECB will provide new guidance about the future of its bond buyingprogram. The major U.S. economic reports will be the Consumer Price Index (CPI) inflation data on Tuesday and Retail Sales on Thursday.


My daughter Jenae' graduated on Wednesday...a year early...and is off to
San Francisco State in fall!
 
The whole happy family was able to be there! 

               Tania & Jake (oldest son) in back, Travis (son) & Hannah and my mother!     
I am so grateful my mother Emily DiGennaro made it down from Oregon!
We are celebrating her 90th birthday next 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
Posted by Dale DiGennaro on June 24th, 2018 8:47 PM

Dear Gena, 

The Cash-Out Craze is On!

The sharp rise in home prices has generated an interesting side-effect. 
Many homeowners have gained equity even though they have only owned the home for a few years. They are now tapping that equity at the fastest rate in eight years
Even more unexpected, one of largest groups pulling out cash is millennials. Many are choosing HELOCs but others are simply refinancing. Cash-out refinances accounted for nearly half of all refinances in the last quarter of 2016. 
With rates up a bit, some believe the cash-out boom will die off, but at this time there are still plenty of people who want some cash as reported HERE by CNBC.

Millennials Tap Into Home Equity










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!
                                                                  
            






Disappointing Job Gains


A wide range of news was positive for mortgage rates this week. Hawkish comments from the Fed were the only significant unfavorable influence. As a result, mortgage rates ended the week lower, near the best levels of the year.
 
Friday's key Employment report showed that the economy added just 98,000 jobs in March, well below the consensus forecast of 180,000. It appears that the weather had a larger than anticipated effect over the last two months. Incredibly warm weather likely boosted the results in February, while a severe storm seems to have slowed hiring in March.
 
For example, the construction industry added 59,000 jobs in February but just 6,000 in March. The average job gains over the last three months remained at a strong pace of 178,000. Since slower economic growth reduces the outlook for future inflation, the downside miss in the March data was good for mortgage rates. 
 
Two other events also were positive for mortgage rates this week. On Wednesday, House Speaker Paul Ryan said that tax reform will take longer to accomplish than reforming health care. Tax reform was expected to be inflationary, so a slower pace for implementation is good for mortgage rates. Thursday night, the U.S. launched a missile strike in Syria. In response, investors shifted to relatively safer assets, including mortgage-backed securities (MBS). Added demand for MBS helped mortgage rates.
 
The primary negative influence for mortgage rates this week was the hawkish tone of Wednesday's minutes from the March 15 Fed meeting. According to the minutes, if the economy performs as expected, Fed officials expect to begin to reduce the Fed's massive $4.5 trillion holdings of MBS and Treasuries before the end of 2017. This would be earlier than had been expected by investors. Added demand for MBS from the Fed has helped push mortgage rates lower in recent years. As a result, investors pushed mortgage rates higher due to the possibility that Fed demand will begin to drop this year.
Looking ahead, investors will be keeping a close eye on events in Syria. In the U.S., mortgage markets will be closed on Friday in observance of Good Friday, but that will be the big day for economic data with Retail Sales and the Consumer Price Index (CPI). Earlier in the week, the JOLTS report will be released on Tuesday, and the Producer Price Index (PPI) will come out on Thursday. In addition, there will be Treasury auctions on TuesdayWednesday, and Thursday
 




 

 

The Kiwanis Famiily House in Sacramento



My Greater Napa Kiwanis Chapter took a road trip to Sacramento last weekend to assist in cleaning up and beautifying the "Kiwanis Family House".  It is used by families whose children are in the hospital so they can stay close by and not have an added expense.

"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 April 7th, 2017 5:16 PM

Dear Gena, 

Higher credit scores are on the way, thanks to new standards!


"Credit reporting and scores play a key role in Americans' daily life.  The process can determine the interest a consumer is going to pay for credit cards, car loans and mortgages...or whether they will be able to get a loan at all!"


A recent report by the CFPB, listed some discoveries they made  with the credit reporting agencies practices.  (Along with the report came millions in fines.)  Because of this action, the big three credit reporting agencies have begun to fix systems so credit reporting is more accurate, which can in turn raise consumers scores.

Check out this article on CNBC which describes how the big three credit reporting agencies are improving the accuracy of data which will assist in raising your score.
 









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!
                                                                  
            






Consumers Remain Highly Confident
 
There were two main influences on mortgage rates over the past week. The canceled vote on the health care bill was positive for mortgage rates, while an impressive rise in consumer confidence was negative. The offsetting effects resulted in mortgage rates ending the week a little lower.
 
Last week, President Trump was unable to gather enough votes to pass the health care bill and the vote was canceled late Friday afternoon. This increased investor concerns about Trump's ability to deliver his business friendly policy changes in other areas. Policies which stimulate growth are good for the economy, but they raise the outlook for future inflation. Investors had pushed mortgage rates higher in anticipation of his policy changes. As a result, reduced expectations were good for mortgage rates. 

                                 Tuesday's report on Consumer Confidence                                                                from the Conference Board showed an enormous                                                            increase to the highest level in a decade. Solid                                                               gains were seen in optimism about both present and                                                      future economic conditions. Higher confidence levels                                                      generally lead to increased future economic activity,                                                       so this data was broadly applauded, but it was not 
                                                good for mortgage rates.
 
Encouraging news in the housing sector continued this week. In February, the Pending Home Sales index rose 5.5% from January to the second best level in a decade. There are two reports each month which measure sales of previously owned homes. The report on sales of existing homes measures closings during the month, while pending sales measure contracts signed, making the Pending Home Sales data a leading indicator of future closings.
 
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 Construction Spending will be released on Monday. The ADP Employment Change and the ISM national services index will come out on Wednesday
 




 

 


Continuing Education for 2017!
Our North Bay, California Association of Mortgage Professionals Chapter,
sponsored David Luna, Mortgage educator to get our 8 hour class done this week in
Petaluma.


North Bay Chapter of CAMP NMLS C.E. class
                     

"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 April 2nd, 2017 11:20 AM

Dear Gena, 

It's Presidents Day 2017, a time to celebrate our nation's leaders, both past and present!
                                                                  
            





Strong Data
 

Based on the economic news over the past week, it would not have been surprising to see a large increase in mortgage rates. With stronger than expected economic data nearly across the board, hawkish comments from the Fed, and a stock market rally, the first half of the week indeed was rough on rates. Once all the news was out, however, mortgage rates recovered their losses and ended the week with little change. 
                                   

                            Most of the reports on economic activity released 
                           this week far exceeded expected levels. Excluding 
                          the volatile auto component, retail sales doubled the 
                       expected increase in January, and the December figures 
                        were revised higher as well. Consumer spending accounts 
                        for about 70% of economic output, and the retail sales 
                                              data is a key indicator. 
 
Housing starts in January also surpassed expectations. The biggest surprises, though, were two regional manufacturing indexes which beat the consensus by a wide margin, one of which reached the highest level since 1984. In addition to these reports, the CPI and PPI inflation data for January came in above the expected levels. Increasing economic activity and rising inflation are not good for mortgage rates.
 
Early in the week, Fed Chair Yellen delivered her semi-annual testimony to Congress. Her comments were viewed as more hawkish than expected. Yellen stressed that it would be "unwise" to wait too long to raise the 
federal 
funds rate. She also said that in coming months the Fed will consider when to begin to reduce the Fed's portfolio of mortgage-backed securities (MBS). On the plus side, she pointed out that the Fed will do so very gradually. However, demand for MBS from the Fed has helped push down mortgage rates in recent years. The possibility of reduced demand put upward pressure on mortgage rates.
 
Looking ahead, the minutes from the February 1 Fed 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 Wednesday and New Home Sales will come out on Friday. 

Mortgage markets will be closed today in observance of Presidents Day.





 

 

My daughter Jenae' competed in the "Jam National Cheerleading and Dance events in Las Vegas this weekend.  Her Cheer team took first place in their coed division!  She also did a solo dance routine.

Jamz National Cheerleading competition
American Canyon HS Cheerleading Team
  

We won!

Also coming up on Saturday, March 5th, is the Kiwanis sponsored 5K in conjunction with the Napa Marathon!  You can get more information or register HERE.



                                                                                                                                         

"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
Sent by dale@clgroup.net in collaboration with
Posted by Dale DiGennaro on March 6th, 2017 8:03 PM

Home Sales Rise
 
The economic data released this week had little impact on mortgage rates. Tuesday's Bank of Japan meeting also caused little reaction in U.S. markets. Mortgage rates ended the week lower.




        While it had little market impact, Wednesday's
       report on sales of previously owned homes 
 exceeded expectations and reached another multi-year high.
        November existing home sales increased a little from 
         October to the highest level since February 2007. 
      Existing home sales were 15% higher than a year ago.
This figure is inflated somewhat, though, since sales in November of last year were depressed by the implementation of new closing disclosure requirements. Total inventory of existing homes available for sale fell to a 4-month supply, and it was 9% lower than a year ago. The median existing-home price was 7% higher than a year ago. Since sales of previously owned homes measure closings, the November data was not affected much by the increase in mortgage rates seen since the election.
 
Thursday's report on orders for durable goods contained mixed news. Durable goods are products which are expected to last more than three years. The overall figure revealed that orders for durable goods in November declined 4.6% from October, which was close to the expected levels. The decline was mostly due to a drop in aircraft orders. Since certain products such as aircraft tend to be very volatile from month to month, investors generally prefer to look at a core reading to get a better sense of the underlying trend. This core indicator of business investment, nondefense capital goods excluding aircraft, showed a healthy increase of 0.9% from October. 
 
Looking ahead, it will be a light week for economic data. Pending Home Sales will come out on Wednesday. There will be Treasury auctions on Tuesday, Wednesday, and Thursday. During the last couple of weeks in December, trading volume tends to be lighter than usual, which can lead to exaggerated price swings. Mortgage markets will be closed on Monday in observance of Christmas. 

Napa Christmas parade
Jenae & I working the Napa Christmas Parade

Lots of fun and festivities in downtown Napa for the Christmas parade!
My daughter Jenae' thought it a good idea that we work crowd control.


(She's way on the right in this photo in the neon green safety vest.)






May your days be filled with peace, hope, and joy this holiday season.

As always, thank you for your business, loyalty, and support.


Sincerely,

All of us at Custom Lending Group




Custom Lending Group| www.CustomLending.net|dale@clgroup.net | 
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Custom Lending Group, 1700 Soscol Ave, Suite 22, Napa, CA 94559
Posted by Dale DiGennaro on February 16th, 2017 7:09 PM





















Dear Gena, 

Or..."Merry Christmas".....So which is it? 
And....is the election of the new administration to blame?

 It's no secret now that The Federal Reserve has raised a key interest rate in response to a strengthening U.S. economy and expectations of higher inflation, and it foresees three more rate hikes in 2017.
(see more details below)

Yes......The Fed's move will mean modestly higher rates on some loans.  
But here are some facts to consider...
  •   We are still at historically low rates. They are typically 5.5% or higher! Since the election, forecasters see Trump's policies, namely spending on infrastructure, lower tax rates, reduced regulation and deficit spending, all as triggers for inflation.  When inflation is occurring (where the purchasing power of the dollar decreases over time), interest rates go up.  Investors want a return on their investment and inflation will be accounted for in calculating that return.  What we have seen in the market since the election is the "massive repricing of longer term inflation risks."
  • Historic Interest Rates - the average 30 year fixed interest rate
    1970's - 8.86%
    1980's - 12.70%
    1990's - 8.12%
    2000's - 6.29%
    2010 - Present - 3.94%
  • Interest rates would need to reach 9.1% for renting to be cheaper than buying a home.
  • Since the election, rates have risen 0.75%.  Average interest rates for a 30 year conforming loan are now 4.25% - this is the highest level it has been since July 2015.  Mortgage loan applications have fallen 9.2% since the election.
     
     Its quite possibly too soon to tell...as adjustments continue to take place and we move forward with the new democratic party and president into 2017.









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!
                                                                  
            



Fed Projects Faster      Pace of hikes...


Wednesday's Fed meeting turned out to be negative for mortgage rates. Recent economic data had little impact. As a result, mortgage rates ended the week higher.
 
As widely expected, the Fed raised the federal funds rate by 25 basis points. Unfortunately for MBS, Fed officials also raised their outlook for the pace of future rate hikes. They now forecast three rate hikes in 2017, one more than previously projected. The faster pace was viewed as negative for mortgage rates. But why? The purpose for raising the federal funds rate is to keep inflation from rising above the Fed's target of 2%. This should be a good thing for mortgage rates. 
 
Part of the reason for the adverse reaction stems from a more direct effect the Fed has on mortgage rates. The Fed owns over $1.7 trillion of the agency mortgage-backed securities (MBS) that it purchased during its quantitative easing (QE) days. The Fed keeps the balance of MBS around that level by buying new MBS to replace that which pays off. The Fed is currently the buyer of approximately 25% of all newly issued MBS. This added demand from the Fed drives MBS prices higher and mortgage rates lower. The Fed says that it will not allow its holdings of MBS to decline until "normalization of the level of the federal funds rate is well under way." When that will be is hard to say, but the faster they raise the federal funds rate, the sooner their demand for new MBS will be removed.
 
    On Thursday, the December National Association of 
     Home Builders (NAHB) housing index showed that 
home builder confidence jumped from 63 to 70,
        far above the consensus, and the highest level since 2005.      
.                    According to the NAHB, home builders are optimistic that                         the Trump administration will "reduce costly regulatory burdens." 
 
Looking ahead, there will be a meeting of the Bank of Japan on Tuesday which could influence U.S. mortgage rates. In the U.S., Existing Home Sales will be released on Wednesday. Durable Orders and Core PCE will come out on Thursday. Core PCE is the inflation indicator favored by the Fed. New Home Sales will be released on Friday. Mortgage markets will close early on Friday in observance of Christmas. 
 





 

 

                                                                                                                                                                
Hanna & my son Travis with Tania, Jake and I
Last weekend my son Jake  took us to Nashville as a belated b-day gift!
He has been a Titan fan since he was a child and has always wanted to watch them play in their hometown!

    We finally did it!  And I survived it!    
                           
And....the Titans won!  So even better.
 
                                                                           




HAPPY HOLIDAYS......CHEERS!

"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
Posted by Dale DiGennaro on February 16th, 2017 7:04 PM




Dear Gena, 

At this time of the year we use our cards more than ever and it  seems as though the more we use them, online and off, the more that is recorded about us, which in turn increases our chance of fraud or identity theft as information about us is shared without
 our even knowing of it.

According to "Fraud Guides"...a company that reports on investment schemes, internet scams and consumer fraud..."identity theft and credit card fraud are two of the worst threats facing consumers"...especially heightened during the holidays. 

More information HERE on the danger of those pre-approved credit cards that show up in your mailbox and using "OptOutPrescreen.com" to opt out of these prescreened offers and  keepbanks, credit card companies and others from gaining access to your credit information.


If you have any
questions regarding this information or need some direction...please feel free to call our office, visit our website or simply send me an email!









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!
                                                                  
            




Volatile Week


It was a volatile week for mortgage rates. A wide range of factors, including Italian politics, OPEC, and U.S. economic data, caused significant reactions. The net effect was small, however, and mortgage rates ended the week with little change.
 
On Sunday, Italians will vote on a referendum presented by Prime Minister Matteo Renzi. If successful, the referendum would simplify the process in Italy for passing laws. The most recent polls suggest that it may be a very close vote. If the referendum fails to pass, critical reforms for the Italian banking sector likely would be postponed. This would put some banks in Italy and in other European countries at risk of failing. In addition, Renzi has said that he will step down if the referendum fails. This would likely lead to a period of political uncertainty in Italy. Early in the week, investors began to noticeably react to the uncertainty by shifting to safer assets, including U.S. mortgage-backed securities (MBS), which was good for mortgage rates.
 
On Wednesday, however, OPEC representatives announced an agreement to cut oil production. This caused oil prices to surge over 9%. Since higher oil prices raise the outlook for future inflation, this was negative for mortgage rates. The increase in rates on Wednesday more than offset the improvement seen earlier in the week. 

In contrast to the OPEC news, a shortfall on wage     
 gains in Friday's key Employment report reduced
                inflationary pressures, which was positive for mortgage rates. 
In November, average hourly earnings were far below 
the consensus with a small decline from October. 
They were 2.5% higher than a year ago, 
down from the multi-year high of 2.8% last month.
Job growth was right on target. Against a consensus forecast of 170K, the economy added 178K jobs in November. The unemployment rate declined from 4.9% to 4.6%, well below the consensus for a flat reading, and the lowest level since August 2007. The unexpected decline in the unemployment rate was mostly due to workers leaving the labor force, however, which is not positive news for the economy. 
 
Looking ahead, the Italian vote will take place on Sunday, and the results likely will affect U.S. mortgage rates on Monday. After that, the next big event will be the European Central Bank (ECB) meeting on Thursday. Investors are divided about what the ECB will decide. In the U.S., the most significant economic report will be ISM Services on Monday. The next U.S. Fed meeting will take place on December 14. 
 




 

 

                                                                                                                                                                                                 

 On Thanksgiving Day...our Greater Napa Kiwanis Chapter spent  the morning carving turkeys and pies to assist the Salvation Army in their efforts in providing the many families in Napa...who didn't have the means.....a wonderful Thanksgiving together!


We then traveled up to Yountville to help prepare and serve the Thanksgiving Feast at The Yountville Community Center.  It was a very nice day to remember how blessed we really are and  how important it is to share those blessings with others.


                                                                                  

"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
Posted by Dale DiGennaro on February 16th, 2017 6:46 PM




















Viva Las Vegas...











Dear Gena,

I am still here in Vegas at our annual National Association of Mortgage Brokers Convention (NAMB).

It has been four days of non-stop education, information, legislative updates and company sponsored dinners.

In our ever changing industry...we continue to see new programs being introduced to meet the needs of you...our clients!

One of the current focus's is on renovation and rehab.  And...that is whether you are buying it to live in, fix and flip...or hold and rent!
Also some great purchase programs that include grants, low down payments, reverse mortgage for those over 62...and other special incentives for not only our first time homebuyers but other  qualified purchasers as well.

In addition...we had our lobbyist here from D.C., updating us on the feelings of Congress as we move toward the election and what this could possibly mean to the housing market and mortgage industry.  
As the much anticipated debate takes place this evening...we are looking for the perfect sports bar for the combination of Monday night football and presidential debate!

Feel free to call me anytime to see how any one of these newer programs or products can help you and your family.



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!

Investors liked what the Fed said, or didn't say, following Wednesday's meeting. Both stocks and bonds reacted favorably. The economic data had little impact. As a result, mortgage rates ended the week lower. 
 
As expected by most investors, the Fed did not raise the federal funds rate. The Fed explained in its post-meeting statement that the case for a rate hike "has strengthened," but Fed officials decided to wait for "further evidence of continued progress toward its objectives." Notably, Fed officials remain divided about the appropriate timing to tighten monetary policy. In a rare occurrence, three out of ten voting Fed members dissented from the decision because they wanted a rate hike to take place at this meeting. Conversely, three Fed officials indicated in their forecasts that they do not see a need to raise rates at all this year. Investors were pleased that the Fed did not come out more strongly in favor oftighter monetary policy, and mortgage rates improved following the meeting. 
 
The housing data released over the past week was mixed. After reaching a multi-year high this summer, sales of previously owned homes in August declined for the second straight month. According to the National Association of Realtors, low levels ofinventory are holding back home sales in many regions. Inventories of homes for sale declined 3% from July and were 10% lower than a year ago. 
 
There are signs that building activity for single-family homes may pick up in coming months, however. In August, building permits for single-family homes increased 3.7% from July, which was the largest monthly increase since June 2014. In addition, the NAHB home builder confidence index jumped to 65 in September, which matched the highest reading since 2005.
 
 
Looking ahead, New Home Sales will be released on Monday. Durable Orders, an important indicator of economic activity, will come out on Wednesday. Pending Home Sales and the third estimate of second quarter GDP will be released on Thursday. The Core PCE price index, the Fed's preferred inflation indicator, will come out on Friday.
 














 
 
NAMB Convention Las Vegas
Elvis at NAMB
Our Entertainment of course!

CLICK HERE for a video!


"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 30th, 2017 4:09 PM

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