Napa Mortgage News

Earth Day....My Birthday and Mortgage Market News

April 26th, 2016 11:14 AM by Dale DiGennaro

Celebrate Earth Day all year round!

Dear Gena,

On the heels of Earth day yesterday...or as my son Travis says, "BEarthday" since it just happens to fall on my birthday every year...I would like to share a few ways we can all pitch in to help preserve this earth for our children & grandchildren!

Recycle your e-waste (electronics)
Start composting
Stop using disposable plastic
End junk mail
Buy local produce
Eat more meat
Reduce your footprint

To see more detailed definitions of each of the above & a few additional ways to help...go to www.earthday.org/take-action

I had a very nice birthday lunch with my good friend Larry Stofer at Angele on the river front in Napa and then my daughter Jenae' joined me for Sushi in the evening at Sushi Haku in the Grapeyard Plaza on Jefferson St. All in all....a great way to spend a Friday!


My friend Larry, son Jake & his gf & daughter Jenae'

Jenae' and I

VISIT OUR WEBSITE

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, April 22th | Get Full Report

	7/32

BONDS

30 yr - 1.88%

	30

DOW

17,915

	56

NASDAQ

4,889

A few factors potentially impacting mortgage rates right now include:

New Home Sales

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.

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No New ECB Stimulus

After spending the last couple of weeks at or near the lowest levels of the year, mortgage rates rose this week. The cause came from investor disappointment with Thursdays European Central Bank (ECB) meeting. The U.S. economic data contained few significant surprises and had little effect.

At its last meeting in March, the ECB announced significant new stimulus measures to spur economic activity and inflation in the eurozone. In speeches following the March meeting, ECB President Mario Draghi emphasized the ECB's readiness to do more if needed. Investors liked what they heard and pushed interest rates around the world lower in anticipation of more stimulus. This week, however, the ECB chose to add no new measures, and some of the improvement in rates was reversed.

The recent housing data was mixed. The existing home sales data for March revealed a solid increase of 5% from February, and they were higher than a year ago. Also notable,inventories of existing homes for sale increased 6%. Tight inventories have been a big factor holding back home sales activity in many regions. National median sale prices were 6% higher than a year ago.

In contrast to home sales, housing starts declined 9% from February, but they still were 14% higher than a year ago. The drop was evenly split between single-family and multi-family units. Building permits, a leading indicator of future activity, fell 8% in March but also remained above year ago levels.

The figures for housing starts and building permits are very volatile from month to month, which makes it necessary to look at a longer time period to determine the underlying trend. Housing starts in 2016 are well above the levels seen a year ago.

Looking ahead, the next Fed meeting will take place o Wednesday. No change in rates is expected, but the statement could have an impact on mortgage rates. This will be followed by a Bank of Japan meeting which could influence U.S. markets on Thursday. Before the meetings, durable orders will come out on Tuesday. The first reading for first quarter gross domestic product (GDP), the broadest measure of economic activity, will be released on Thursday. The core PCE price index, the Fed's preferred measure of inflation, will come outon Friday.

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!