Napa Mortgage News

Protecting your Money & My daughter in USA National Cheerleading Competition

March 23rd, 2018 1:10 PM by Dale DiGennaro

Interest rates continue to rise but alot of us remain unconcerned with the notion because we are not considering a new loan.

However.....keep in mind that when interest rates rise...the cost of money goes up as well!

So....what do you do?

According to CNBC...Here are four ways you can insulate yourself from the changes we are experiencing.

Find out more here!

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!

Stocks Dive, Mortgage Rates Flat

Although the stock market suffered large losses this week, mortgage markets were relatively quiet. The two primary influences were the Fed meeting and a new tariff policy. Neither had much net effect, however, and mortgage rates finished the week nearly unchanged.

Following Wednesday's Fed meeting, the statement and Chair Jerome Powell's first press conference left investors divided about whether there will be three or four federal fund rate hikes this year. As widely expected, the first 25 basis point hike in 2018 took place at this meeting. Investors were much more interested in the projections of Fed officials for the pace of future rate hikes. Seven out of fifteen officials now expect that four rate hikes will be needed this year, up from just four officials in the last set of forecasts in December. The projected pace of raising rates in coming years increased as well. It appears that the forecasts were roughly in line with expectations, though, and mortgage rates at the end of the day on Wednesdaywere little changed from Tuesday's closing levels.

On Thursday, the Trump administration announced that it will impose new tariffs on about $50 billion worth of Chinese imports. This was a less aggressive plan than investors had feared, but it still increased concerns about retaliation. A trade war likely would have multiple effects. One would be reduced global economic activity, which would be bad for stocks and good for mortgage rates, as it would reduce the outlook for future inflation. However, tariffs also raise the price of imported goods, which would increase inflationary pressures. In short, the threat of a trade war was viewed as clearly negative for stocks, but the overall impact on mortgage rates is difficult to predict.

The data from the housing sector was pretty good and could have been even better except for severe weather in the Northeast and Midwest. In February, sales of previously owned homes increased 3% from January and were a little higher than a year ago. The inventory of homes for sale rose 5% to a 3.4-month supply, but it was 8% lower than a year ago. The median existing-home price was 6% higher than a year ago.

Looking ahead, Pending Home Sales will be released on Wednesday. The Core PCE price index, the inflation indicator favored by the Fed, will come out on Thursday. In addition, Treasury auctions on Tuesday and Wednesday could affect mortgage rates. Mortgage markets will close early on Thursday and will be closed on Friday in observance of Good Friday.

My Daughter Jenae' (Left side above) competed at the USA Cheerleading competition at the Anaheim Convention center this weekend.

Her team came in third!

Interesting event as there were 1000's of cheerleaders from all over the U.S.

"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!"