Napa Mortgage News

Wells Fargo Opening New Accounts & Mortgage Market News

February 13th, 2017 8:37 PM by Dale DiGennaro

Dear Gena,

Kidding!.....But of course you heard by now that Wells Fargo is in hot water for opening new accounts for people...without their permission...to help increase revenue. So...in the spirit of "full disclosure"... if you've had enough of the big banks running your life, posting extra fee's to your account or overcharging you for everything, just give us a call or visit our website and we will help you every step of the way!
We'd be happy to look at refinancing your mortgage for you to save you some real dough!

Remember...rates are still close to the lows for the year and there's no telling what might happen after November 8th.

Current rates on 30yr mortgages are in the 3.5% - 4%(APR) range with no closing costs up to $625,500.

And what about the Cyber Attacks!?! I thought my e-mail had gotten a little quiet on Friday morning and then thought it even stranger that I couldn't get access to several sites I use for business.
Later that day, I got word that there had been an internet hack on many of the largest service organizations we all use each and every day to conduct business!
If you haven't yet been fully informed about what took place...here is an enlightening article from
The Washington Post!
Are the hackers warming up to do something even bolder one has to wonder? Messing with election votes possibly? Or...maybe even opening some more new accounts for you!?!

One last thing...
If you're looking at purchasing a new home...but don't want to make a contingent offer based on the sale of your home during this hot seller's market...Give me a call and we may be able to help with some bridge financing.

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!

Inflation and the Fed

Both central bankers and economic data influenced mortgage rates over the past week. Comments from the top two Fed officials caused some volatility but had little net impact. Weaker than expected inflation data was favorable. As a result, mortgage rates ended the week a little lower.

Late Friday afternoon, Fed Chair Yellen unexpectedly discussed a potential new twist on U.S. monetary policy that was being researched by the Fed. According to Yellen, the idea being explored would involve keeping monetary policy looser for longer to help boost the economy, even at the risk of higher than desired inflation levels. Concerns about a possible future Fed policy which tolerates higher inflation caused mortgage rates to increase late Friday. On Monday, however, Fed Vice Chair Fischer discussed the risks to the economy and to financial markets of keeping rates low for too long. The contrasting views of Fischer compared to Yellen soothed investors and Friday's unfavorable reaction was reversed.

Mortgage rates improved on Tuesday following the release of the consumer price index (CPI). This widely followed monthly inflation indicator revealed that core inflation in September was lower than expected at an annual rate of 2.2%. Core CPI has held steady near current levels all year. Core inflation excludes the volatile food and energy components.

Thursday's highly anticipated European Central Bank (ECB) meeting caused little reaction for mortgage rates. The ECB made no policy changes. In the press conference, ECB President Draghi essentially postponed any new guidance on monetary policy. He said that the ECB will decide at its next meeting on December 8 whether to extend the bond purchase program which is currently set to conclude in March. Given that there is also a key U.S. Fed meeting on December 14, the first half of December will be a highly important period for mortgage rates.

Looking ahead, New Home Sales will be released on Wednesday. Durable Orders, an important indicator of economic activity, and Pending Home Sales will come out on Thursday. The first reading for third quarter GDP, the broadest measure of economic activity, will be released on Friday.

I am very proud of my Daughter Jenae'!

Last week she received recognition as one of the

newest members of

"The National Honor Society"

through American Canyon High School.

It is based on scholarship, service, leadership & character.

Of course she takes after her father!! LOL

"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!"