Napa Mortgage News

Reverse Mortgages...Market News...Kiwanis 5K Napa Fundraiser

February 25th, 2016 7:21 AM by Dale DiGennaro

The Federal Reserve Raised the Rate! Now what?

Dear Gena,

Suddenly, we are heading into the last week of February!! Unbelieveable how fast the time is going by!

I hope you all had a great valentines day celebration and enjoyed the long weekend too!

As we all start to think about taxes....yes....that again.....be sure to consult your cpa for advice if you are considering a loan over the next year as well as for any additional deductions you may be eligible for due to your mortgage or rental properties.

Also.....If you are curious whether you have the best interest rate & product you can currently get.....give us a call and we will do a quick mortgage review to see if we can save you some money!

VISIT OUR WEBSITE

Reverse Mortgages

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

The best part is...the money can be used any way you see fit...

Home Improvements

Pay off Credit Cards

Cover Medical Expenses

Pay for Long Term Health Care

...as well as a solution to many other needs or desires you may have!

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

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

Higher Inflation

Mortgage rates spiked higher late last week, as investors bought stocks and sold bonds. The volatility continued this week, but the net effect was favorable for mortgage rates. Despite an upside surprise in the CPI inflation data and stock market gains, mortgage rates ended the week a little lower.

The Consumer Price Index (CPI) is the most widely followed monthly inflation indicator, and the readings for January were higher than expected. CPI was 1.4% higher than a year ago, which was the highest level since October 2014.

Core CPI, which excludes the volatile food and energy components, was 2.2% higher than a year ago, which was the highest level since June 2012. Economists often look at core inflation rather than the overall rate to get a clearer sense of the underlying trend.

While some forces have helped hold down inflation over the past year, including the stronger dollar and lower oil prices, the service sector has remained strong and costs have been rising. In particular, shelter and medical costs have increased over the past year. Mortgage rates are highly influenced by the outlook for future inflation. If the trend toward higher inflation accelerates, it would be negative for mortgage rates.

Looking ahead, Existing Home Sales will be released on Tuesday and New Home Sales Wednesday. Durable Orders, an important indicator of economic activity, will come out on Thursday. The Core PCE price index, the Fed's preferred inflation indicator, and the second estimate of fourth quarter GDP will be released on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.Thursday.

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

http://www.napavalleymarathon.org/kiwanis5k/

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!