Napa Mortgage News

Stocks Rally...Rates Rise....Your Home Loan

October 13th, 2015 12:09 PM by Dale DiGennaro

From the desk of…

Dale DiGennaro

E-MAIL ME
(707) 252-2700
Custom Lending Group

Your new home loan: tips for success

Here are some tips to consider when shopping for your new home or investment property. By following these steps, you can go into the buying process with a better idea what to expect, and have a better chance of getting the loan, and home or property, you want.

Look into a mortgage before shopping for a home or additional property(s). This will establish a price range based on how much you can qualify to borrow. This avoids getting your hopes up on a home that may be outside of the price range you are comfortable with. Use one of our calculators to assist you or call me and I will work with you to determine what makes sense.
Be sure to "equally" compare multiple mortgage quotes. Make sure to pay close attention to lender fees and discount points because they can offset any savings indicated by just comparing the rates alone. Also, inquire as to what lender credits may be available to help offset costs of obtaining the loan. In many cases you may be able to get all or most of your closing costs covered. Go on to make a list of questions about each quote. Avoid lenders that seem too busy or uninterested with your problems and concerns. The best loan is dependent on good communication.
Don't be afraid to negotiate to receive the best loan. During this mortgage search process, keep in mind your short and long term goals such as career, retirement plans and your family. There are many mortgages available to suit your current situation as well as future plans. Operating as a mortgage "broker" allows me to search lenders nationwide to get the best product for your needs. In order to gain a seller's attention, always get pre-approved for a mortgage. This will put you first in their mind if there are multiple offers on a home.
Trust your instinct. Common sense, intuition and education are valuable tools that can help mortgage shoppers avoid mistakes. There are many tools and alot of information at www.customlending.net that will help you understand the process and different loan types. And last..... If questions or concerns are dismissed, or a loan officer says not to worry about completing or signing mortgage documents, it's time to find another lender.

Mortgage Time
Mortgage Market News for the week ending October 09, 2015
Compliments of
DaleDiGennaro
Owner | NMLS: 298353 | 966783
Custom Lending Group, Inc.
Co. NMLS: 845079 | 944064
Office: 707.252.2700 - Ext. 109•Cell: 707.738.0878
Fax: 707.252.1319
dale@clgroup.net
www.customlending.net/Home
1700 Soscol Avenue
Suite 22
Napa,CA94559

Stocks Rally, Rates Rise
Demand shifted from bonds to stocks over the past week. The economic data had little impact. As a result, mortgage rates ended the week a little higher.
Under most circumstances, mortgage rates improve when stocks decline, and the reverse is true as well. We have seen an example of this relationship over the last few weeks. During the second half of September, stocks declined and mortgage rates improved. The trend has reversed, however, as the Dow has climbed about 600 points over the past week, while mortgage rates have risen.
There were no major surprises in the Minutes from the September 17 Fed meeting released on Thursday. The Minutes revealed that Fed officials held off on a rate hike due to uncertainty that inflation will rise to their 2.0% target level. The Minutes also noted that weakness in other countries added to the downside risk for economic growth and inflation in the U.S. Since the September 17 Fed meeting, the U.S. economic data has indicated slowing growth, justifying the Fed's decision and adding pressure for the Fed to hold rates steady longer.
Looking ahead, Retail Sales will be released on Wednesday. Retail Sales account for about 70% of economic activity. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will come out on Thursday. Industrial Production, another important indicator of economic activity, and the JOLTS report will be released on Friday. JOLTS measures job openings and labor turnover rates. Mortgage markets will be closed on Monday in observance of Columbus Day.

Creating the perfect guest experience

November signals the start of the holiday season, which often means the start of holiday house guests as well. Don't let the idea of family staying at your house stress you out too much with these helpful tips.

Outfit your spare room for happy guests. It's easy to forget what your spare bedroom is missing until someone needs to stay there. Ensure your room has good bedside lighting, hooks and hangers for guests to use, plenty of pillows, bath towels, and perhaps even some snacks for them to enjoy.
Ask in advance. Be sure and find out if any guests will have special allergy or dietary needs. If children will be staying, ask if there are special foods they prefer.
Give your guests a plan. If you have any special events or activities planned, let you guests know in advance in case there is anything special they need to pack.
Explain anything odd about your house. You would hate to leave your guests searching for an outlet or dealing with a dripping sink. If there are any quirks about your house that guests need to know, explain them when they arrive.

Dale DiGennaro • Custom Lending Group • (707) 252-2700 • dale@clgroup.net

Posted in:home loans, mortgage loans and tagged: mortgage loans Home Loans first time homebuyer

Posted by Dale DiGennaro on October 13th, 2015 12:09 PM

Napa Mortgage News

Stocks Rally...Rates Rise....Your Home Loan

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