Napa Mortgage News

Getting pre-approved ... Memorial Day & remembering my father

May 27th, 2016 12:25 PM by Dale DiGennaro

Remembering all those who gave their lives for our country.

Memorial Day marks the traditional beginning of summer and the start of the most popular season in real estate. But it also has a special meaning for me because my late father, Adam DiGennaro, the founder of our mortgage company, was a decorated marine from 1938-1946.

(see below for more info)

And since it is "home" season...If you're in the market for a new home, get a jump start by getting pre-approved for a loan by a trusted mortgage broker.

Buying a home can be an overwhelming process. A pre-approved loan agreement outlines what you can afford to buy, so when the time comes to start shopping you and your real estate agents have a set price range to follow in finding your perfect home.

There are also other reasons to get pre-approved for a loan. When you find that house of your dreams, a seller will likely feel more comfortable taking the home off the market if you are pre-approved because he or she knows that the financing has already been taken care of. Working out a mortgage agreement before shopping also takes the pressure off trying to find a loan quickly once you do find that dream home and don't want another buyer to snatch it up.

I'd be happy to discuss mortgage options with you and help you officially commence the beginning of your home buying process!

HAVE A SAFE & HAPPY MEMORIAL WEEKEND!

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!

Huge Home Buying Activity

Despite stronger than expected housing data and a nice rally in the stock market, investors showed significant demand for bonds, including mortgage backed securities (MBS). As a result, prices for MBS improved, causing mortgage rates to end the week a little lower.

The housing data released this week showed that home buyers were busy in April signing contacts to purchase homes. The market for both previously owned homes and newly built homes saw their best activity in years. Improved labor market conditions and low mortgage rates are a great combination to support a very active housing market.

The Pending Home Sales Index, which measures the number of contracts signed to buy previously owned homes, jumped in April by 5% over March, to the highest level of activity since February 2006. Similarly, the New Home Sales report, which measures the number of contracts signed to buy newly built homes, surged by 17% over March, to its best level since January 2008.

The Fed has stated that the decision on when to next hike the federal funds rate will depend on the incoming economic data. This week's data certainly increases the chance of a rate hike in the near term. Besides the strong housing data, Durable Goods orders rose in April by much more than expected. Orders jumped 3.4% from March when an increase of only 0.5% was expected. March orders were revised higher as well. Although the durable orders data is volatile from month to month, the April data does show that demand for big ticket items is high and that there is confidence in improved future economic activity.

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 core PCE price index, an inflation indicator favored by the Fed, will come out on Tuesday. The ISM national manufacturing index will be released on Wednesday, and the ISM national services index will come out on Friday. Mortgage markets will be closed Monday in observance of Memorial Day.

NMLS#298353/845079 CalBRE# 966782/944064

Adam DiGennaro

My dad has a featured interview in a book called "Operation:Memories"...Incredible Stories of World War II Veterans

as told to...

Evelyn I. Gregory

Third marine Division at Bougainville & Guadalcanal. Amphibious tractor trouble at Iwo Jima.

Tells history of pride of Marines.

Two world fairs.

Guarded airplanes in South America and the brig on ship.

Wahington D.C. Guard Unit.

Guard for President Rooselvelt at Little White House.

After leaving the marines he attended law school, become an attorney & started our mortgage company. I am very proud of my dad and the legacy he left us!

My dad has a beautiful resting spot, under a big tree in Arlington Cemetary.

I was able to pay my respects in April when I was there to meet with Congress.

The magnitude of it really tells the story.

REMEMBER...NEVER FORGET.

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!