Napa Mortgage News

Vegas Baby......National Association of Mortgage Professionals (NAMB) convention

January 30th, 2017 4:09 PM by Dale DiGennaro

Viva Las Vegas...

Dear Gena,

I am still here in Vegas at our annual National Association of Mortgage Brokers Convention (NAMB).

It has been four days of non-stop education, information, legislative updates and company sponsored dinners.

In our ever changing industry...we continue to see new programs being introduced to meet the needs of you...our clients!

One of the current focus's is on renovation and rehab. And...that is whether you are buying it to live in, fix and flip...or hold and rent!

Also some great purchase programs that include grants, low down payments, reverse mortgage for those over 62...and other special incentives for not only our first time homebuyers but other qualified purchasers as well.

In addition...we had our lobbyist here from D.C., updating us on the feelings of Congress as we move toward the election and what this could possibly mean to the housing market and mortgage industry.

As the much anticipated debate takes place this evening...we are looking for the perfect sports bar for the combination of Monday night football and presidential debate!

Feel free to call me anytime to see how any one of these newer programs or products can help you and your family.

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!

Investors liked what the Fed said, or didn't say, following Wednesday's meeting. Both stocks and bonds reacted favorably. The economic data had little impact. As a result, mortgage rates ended the week lower.

As expected by most investors, the Fed did not raise the federal funds rate. The Fed explained in its post-meeting statement that the case for a rate hike "has strengthened," but Fed officials decided to wait for "further evidence of continued progress toward its objectives." Notably, Fed officials remain divided about the appropriate timing to tighten monetary policy. In a rare occurrence, three out of ten voting Fed members dissented from the decision because they wanted a rate hike to take place at this meeting. Conversely, three Fed officials indicated in their forecasts that they do not see a need to raise rates at all this year. Investors were pleased that the Fed did not come out more strongly in favor oftighter monetary policy, and mortgage rates improved following the meeting.

The housing data released over the past week was mixed. After reaching a multi-year high this summer, sales of previously owned homes in August declined for the second straight month. According to the National Association of Realtors, low levels ofinventory are holding back home sales in many regions. Inventories of homes for sale declined 3% from July and were 10% lower than a year ago.

There are signs that building activity for single-family homes may pick up in coming months, however. In August, building permits for single-family homes increased 3.7% from July, which was the largest monthly increase since June 2014. In addition, the NAHB home builder confidence index jumped to 65 in September, which matched the highest reading since 2005.

Looking ahead, New Home Sales will be released on Monday. Durable Orders, an important indicator of economic activity, will come out on Wednesday. Pending Home Sales and the third estimate of second quarter GDP will be released on Thursday. The Core PCE price index, the Fed's preferred inflation indicator, will come out on Friday.


	Our Entertainment of course! CLICK HERE for a video!

"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!"