Napa Mortgage News

Fathers Day...the Warrior's Championship...the Mortgage Market

July 15th, 2017 12:17 PM by Dale DiGennaro

Dear Gena,

This weekend we celebrate fathers day!

Father's Day is a celebration honoring fathers and celebrating fatherhood, paternal bonds, and the influence of fathers in society.

In Catholic Europe, it has been celebrated on March 19 (St. Joseph's Day) since the Middle Ages. This celebration was brought by the Spanish and Portuguese to Latin America, where March 19is often still used for it, though many countries in Europe and the Americas have adopted the U.S. date, which is the third Sunday of June. It is celebrated on various days in many parts of the world, most commonly in the months of March or May.

To understand more about "Fathers Day" and how it is

celebrated throughout the world.....Click Here!

VISIT OUR WEBSITE

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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 on Weak Data

Weaker than expected retail sales and inflation data was favorable for mortgage rates this week. However, the Fed meeting was viewed as negative and offset some of the improvement. Mortgage rates ended the week a little lower, near the best levels of the year.

After rising gradually last year, inflation has been on a downward path so far this year. Wednesday's release of the core consumer price index (CPI), which excludes food and energy, continued this trend. Core CPI in May was just 1.7% higher than a year ago, which was lower than the 1.9% year-over-year rate of increase in April. Lower levels of inflation are positive for mortgage rates.

Later in the day on Wednesday, the Fed disclosed the results from its meeting, and investors viewed the news as negative for mortgage rates. One reason was that in the statement Fed officials maintained the position that the decline in inflation seen in recent months is just temporary. Most Fed officials still expect that inflation will climb to their target level of 2.0% in the medium term. Some investors had thought that the Fed would place more weight on the recent decline in inflation and slow the pace of monetary policy tightening.

In addition, the Fed provided more details at this meeting about its plan to reduce its holdings of U.S. Treasuries and agency debt and mortgage-backed securities (MBS). Investors viewed the pace of the reduction as a little more aggressive than anticipated, which contributed to a small increase in mortgage rates. Fed Chair Yellen said she expects to begin shrinking the size of the Fed's balance sheet "relatively soon" and will do so by no longer reinvesting all the principle payments received. The reduction will start at $10 billion a month and grow to $50 billion a month over twelve months. Approximately 40% of the reduction will be in the holdings of MBS.

Looking ahead, it will be a very light week for economic data. Existing Home Sales will be released on Wednesday and New Home Sales on Friday. Speeches by Fed officials also may influence mortgage rates next week.

Last year at BottleRock this shirt set off lots of cheering as the Warriors were battling it out with the Cav's.

This year......

We did it!!

Congrats to the Warriors!

An Amazing Win!

The

Trophy!

The Colors!!

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!"