Napa Mortgage News

The Housing Drought

April 2nd, 2017 11:16 AM by Dale DiGennaro

Dear Gena,

The good news this week is that mortgage rates continue to improve!

The spring housing market has started early this year and it most likely has something to do with low inventory of homes on the market right now.

So if you are considering selling your home......now is a great time!

CNBC recently shared this update.....

If you need a referral to a reputable listing agent or a pre-approval for a new home...feel free to call anytime or visit us online to get your questions answered.

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!

Rates Improve Again

Over the past week, concerns increased about President Trump's ability to deliver pro-growth policy changes as quickly as expected. This was favorable for mortgage rates. The economic data had little impact. Mortgage rates again ended the week lower.

Since the election, stocks have performed very well, while bonds yields have risen. This was due to expected policy changes under the Trump administration which would boost economic growth. Stronger growth is good for the economy and for stocks, but it raises the outlook for future inflation, which is negative for mortgage rates. Over the past week, President Trump encountered resistance to a health care bill. This increased investor concerns about the ease with which Trump will be able to deliver his pro-growth policy changes in areas such as tax cuts, deregulation, and infrastructure spending. As investors questioned whether the policies might be smaller in scale or might take longer to implement, some of the "Trump Trade" reversed this week, which was good for mortgage rates.

The housing sector data released this week revealed that home sales activity remained at very good levels. New homes sold in February rose to the best level in months. Sales of previously owned homes did slip from January's strong pace, but according to the National Association of Realtors, this was due to a shortage of inventory in many regions.

Demand remained very strong. The median time properties were on the market fell to just 45 days in February, down from 59 days last year at this time.

Looking ahead, the outcome of the health care bill vote scheduled for late Friday afternoon might influence mortgage rates. After that, Pending Home Sales will be released on Wednesday. The core PCE price index and Personal Income will come out on Friday. Core PCE is the inflation indicator favored by the Fed. In addition, there will be Treasury auctions on Monday, Tuesday, and Wednesday. There will be Fed speakers every day next week as well.

My daughter Jenae' and bf Noah raising money for American Canyon H.S.

"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!"