Napa Mortgage News

Pumpkin Heads & Mortgage Market News

February 13th, 2017 8:45 PM by Dale DiGennaro

Dear Gena,

Happy Halloween!

Halloween marks the transition between the light of autumn and the darkness of winter, between the plenty of the fall harvest and the scarcity of winter, the transition between life and death.

This celebration is observed by people all over the world on October 31st, the evening before the Western Christian feast of All Hallows' Day, known as All Hallows' Eve and later, Halloween.

It's a time of celebration and superstition, part of a three-day observance of Allhallowtide, from the original Middle English Alholowmesse, meaning All Saints' Day, by some churches.
Allhallowtide spans a three-day period, beginning with All Saints' Eve (October 31), when many people of all types of faiths remember the dead, including family members, saints, martyrs and the faithful departed.

Over the years, Halloween has evolved into a secular, community, family and child-friendly celebration, with activities such as costume parties, trick-or-treating and bobbing for apples.

Whatever you choose to do this year....be safe, stay alert and avoid the clowns!

CLICK HERE for more on the "festival" of Halloween!

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!

Strength in Europe

Over the past week, events outside the U.S. caused global bond yields to move higher. The U.S. economic data had little impact. As a result, mortgage rates ended the week at the highest levels since the middle of June before the UK voted to exit the European Union.

On Thursday, a burst of news from Europe and Japan was negative for global bonds. In the UK, third quarter GDP growth was stronger than expected, and Spain's unemployment rate declined more than expected. An official from the European Central Bank (ECB) then reminded investors that the ECB will decide whether to extend its bond purchase program at its next meeting on December 8. Given the better than expected European data, concerns grew that the ECB may provide less stimulus. In addition, an official of the Bank of Japan(BOJ) said that the BOJ may not increase its bond purchase program. Bond purchases from central banks around the world have helped push global bond yields lower in recent years, so indications that there may be less stimulus in the future caused yields to rise, including U.S. mortgage rates.

The first estimate for third quarter Gross Domestic Product (GDP), the broadest measure of economic activity, was considerably stronger than other recent readings. After three straight quarters below 2.0%, GDP grew 2.9% during the third quarter of 2016, above the consensus of 2.5%, and up from 1.4% during the second quarter.

Strength was seen in exports and inventory levels. On the negative side for the economy, consumer spending grew at a slower pace than in the second quarter. The report caused some volatility for mortgage rates but had little net effect.

Looking ahead, next week will be packed with central bank meetings and economic reports. The Core PCE price index, the inflation indicator favored by the Fed, will be released on Monday. On Tuesday, ISM Manufacturing will come out and a Bank of Japan meeting will take place. A U.S. Fed meeting will take place on Wednesday, but no significant change in policy or in guidance is expected. Finally, the important monthly Employment report will be released on Friday. As usual, this data on the number of jobs, the unemployment rate, and wage inflation will be the most highly anticipated economic data of the month.

Our annual Kiwanis "Shop with a Cop" fundraiser was the best ever this year! The Greater Napa chapter went all out for "Casablanca Night" last weekend at the Lincoln Theater, and even enlisted the help from our friends at the Culinary Institute of America!


Our esteemed leader...Toni (bottom left)

Miss Napa County

CIA Chefs preparing for the evening!

The most extravagant pumpkin carvings you'll ever see!! Click here for amazing carvings!

Ray Villafane is an artist from Queens, New York, who has garnered international acclaim and a cult-like following for his jaw-dropping pumpkin carvings.

"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!"