Napa Mortgage News

Valentines Day...Love is in the Air

March 6th, 2017 7:52 PM by Dale DiGennaro

Dear Gena,

Well...Tuesday is the big day! That's right.....its February 14th...Valentine's Day!!

When the average consumer will spend $116.21 and the U.S. is set to spend $13,290,000,000!

A few other staggering Valentines Day statistics:

Number of Cards exchanged.....180 million
Avg. number of roses produced for this day...198 million
Percent of cards bought by women......85%
Percent of flowers purchased by men....73%
Percent of women who send themselves flowers...14%
Percent of consumers who celebrate this day...61.8%
Avg. number of children conceived on valentines day.....11,ooo
Percent of women who say they would end their relationship if they didn't get something for v-day.....53%

Each year on February 14th, many people exchange cards(52.1%), candy(47.5%), flowers(34.3%) and other
gifts,
with their special "valentine." But as the story goes...
The
day of romance we call Valentine's Day is

named for
a
Christian martyr and dates back to the 5th century,
but has origins in the Roman holiday Lupercalia.

For more on the story of Valentines Day, according to the Business Insider, click here.

Whatever your plans with your special someone.....enjoy!

VISIT OUR WEBSITE

_____________________________________________________________________________

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!

Sentiment Remains High

Last Friday's Employment report left investors feeling good about buying bonds, and mortgage rates improved over the first half of this week. An announcement from President Trump on Thursday was negative for bonds, however, and a partial reversal took place. After a couple of weeks with relatively little net change, mortgage rates ended this week a little lower.

The much weaker than expected wage growth in the Employment report released on February 3 eased investor concerns about future inflation. Lower inflation increases the value of future cash flows from bonds. With little economic news early in the week, investors purchased bonds, including mortgage-backed securities (MBS). Since mortgage rates are set based on MBS prices, rates declined.

On Thursday, President Trump said to expect an announcement about tax cuts in two to three weeks. Mortgage rates moved a little higher after the comment. There are a couple of reasons why tax cuts are viewed as negative for mortgage rates. The first is that tax cuts increase the wealth of the affected individuals or businesses. As they spend some of this money, it boosts economic activity, which in turn raises the outlook for future inflation. The second reason is that tax cuts increase the budget deficit, at least initially. This means that the government has to issue more Treasury bonds to fund the deficit. The added supply reduces the value of bonds, including MBS.

The report on Consumer Sentiment released on Friday

showed that consumers remained optimistic about economic

activity. While the reading was a little below the 13-year high

seen last month, it was still quite high by historical standards.

This survey from the University of Michigan measures the level

of optimism or pessimism about current and future economic conditions.

Looking ahead, Retail Sales will be released on Wednesday. Consumer spending accounts for about 70% of economic output in the U.S., and the retail sales data is a key indicator. The Consumer Price Index (CPI), a widely followed monthly inflation report, also will come out on Wednesday. CPI looks at the price change for goods and services which are purchased by consumers. Housing Starts will be released on Thursday. In addition, Fed Vice Chair Fisher will be speaking on Saturday morning, and Fed Chair Yellen will deliver her semi-annual testimony to Congress on Tuesday and Wednesday.


Full House at the Kiwanis Crab Feed


	Our "Greater Napa Chapter " table

Also coming up on Saturday, March 5th, is the Kiwanis sponsored 5K in conjunction with the Napa Marathon! You can get more information or register HERE.


Jenae' after their half time show

My daughter's American Canyon Cheerleading Squad had the opportunity to participate in the half time show, at the Cal Bears game at UC Berkley last weekend! Good game too!


	Noah, Jenae' and a couple team mates.

"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!"