Napa Mortgage News

The Meaning of Memorial Day thru the years & BottleRock Napa

June 15th, 2017 3:50 PM by Dale DiGennaro

Dear Gena,

Most of us know and/or participate in at least some of the traditional observance of Memorial Day!

As it goes....the flag of the United States is raised briskly to the top of the staff and then solemnly lowered to the half-staff position, where it remains only until noon. It is then raised to full-staff for the remainder of the day.

Once known as "Decoration Day"...Memorial Day observances in small New England towns are often marked by dedications and remarks by veterans, state legislators, and selectmen.

The half-staff position remembers the more than one million men and women who gave their lives in service of their country. At noon, their memory is raised by the living, who resolve not to let their sacrifice be in vain, but to rise up in their stead and continue the fight for liberty and justice for all.

The National Memorial Day Concert takes place on the west lawn of the United States Capitol. Music is performed, and respect is paid to the men and women who gave their lives for their country.

For many Americans, the central event is attending one of the thousands of parades held on Memorial Day in large and small cities all over the country. Most of these feature marching bands and an overall military theme with the National Guard and other servicemen participating along with veterans and military vehicles from various wars.

One of the longest-standing traditions...is the running of the Indianapolis 500, an auto race which has been held in conjunction with Memorial Day since 1911. It runs on the Sunday preceding the Memorial Day holiday. NASCAR's Coca-Cola 600 has been held later the same day since 1961. The Memorial Tournament golf event has been held on or close to the Memorial Day weekend since 1976. The final of the NCAA Division I Men's Lacrosse Championship is currently held on Memorial Day.

In 2000, Congress passed the National Moment of Remembrance Act, asking people to stop and remember at 3:00 pm.

But.....around the world there are many variations of this holiday and how it is commemorated....CLICK HERE to learn more.

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!

Fed Minutes Reveal Plan

With few new political headlines or major surprises in the economic data, it was a quiet week. Wednesday's release of the Fed minutes was the biggest market mover, but those gains were offset by small losses on other days. Mortgage rates ended the week with little change.

Wednesday's release of the detailed minutes from the Fed meeting on May 3 said that Fed officials expect to raise the federal funds rate again "soon." To explain the need for the rate hike, they said that they viewed the slow economic growth during the first quarter as "transitory." Fed officials also expect inflation to gradually rise. This information was in line with the Fed statement on May 3 and recent comments from Fed officials.

The minutes did contain new information about the Fed's plan to reduce the $4.5 trillion of mortgage-backed securities (MBS) and Treasuries on its balance sheet. The plan calls for a gradual reduction by no longer reinvesting all of the principal payments received. The amount that will not be reinvested will be announced in advance and will increase over time on a fixed schedule. Although many questions remain unknown, investors were pleased to see a plan which is intended to minimize disruptions to the market, and mortgage rates improved slightly after the minutes were released.

On Friday, the first revision to first quarter Gross Domestic Product (GDP) showed an increase to 1.2% from the original estimate of 0.7%. GDP is the broadest measure of economic growth. First quarter GDP has been coming in at low levels in recent years, so these weak results were not surprising. Early estimates for second quarter GDP are for much stronger growth of around 3.0%.

Looking ahead, 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. Before that, the Core PCE price index, the inflation indicator favored by the Fed, will be released on Tuesday. The ISM national manufacturing index will come out on Thursday. Mortgage markets will be closed on Monday in observance of Memorial Day.

I am spending my Memorial Weekend at

BottleRock!

I have seen Maroon 5, Tom Petty, Mavis Staples and many other talented musicians. Not to mention Chef Morimoto, Charles Woodson and others on the Culinary stage.

The most amazing experience is navigating through the thousands of people that end up in this one area we call our fairgrounds.

Here is a beginning, during & after look!


	Early in the day!


During......


	After.....I would hate to be on clean up!

"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!"