Napa Mortgage News

Political Uncertainty & Rates...Refi's.....Prom

May 20th, 2017 9:53 PM by Dale DiGennaro

Dear Gena,

"Does it make sense for me to refinance my mortgage right now?"

That is a question that many people ask themselves...not really certain if its worth it for them. The obvious reason is most typically for a lower rate, but there are other reasons that may make sense for your particular situation as well. Here are a few of them courtesy of Fox Business News.

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!

Political Uncertainty

Growing political uncertainty was good for mortgage rates this week. Recent economic data had little impact. Mortgage rates ended the week near the best levels since before the November Presidential election.

Following the election of Donald Trump, the stock market rallied and mortgage rates rose. They did so based on pro-growth policy changes planned by President Trump. On Wednesday, allegations of Trump's interference in an FBI investigation gave investors reason to question the President's ability to implement these changes. Investors reacted to the resulting political uncertainty by selling stocks and buying bonds, including mortgage-backed securities (MBS). This added demand for MBS was good for mortgage rates.

Tuesday's report on housing starts contained mixed news. Overall housing starts in April declined 3% from March, which was well below the expected levels. However, this was due to weakness in the volatile multi-family segment. Single-family housing starts increased slightly in April. Also, Monday's NAHB housing index showed that home builder confidence surprised to the upside in May and remains at very high levels.

Looking ahead, political news may continue to influence mortgage rates. Beyond that, New Home Sales will be released on Tuesday and Existing Home Sales on Wednesday. The second estimate of first quarter GDP and Durable Orders will come out on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.

My daughter Jenae' ( on the right) had her Junior Prom last weekend!

With her "sweet 16" fast approaching....I am reminded

how fast the time goes by!

"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!"