Weekly Newsletter – 10-14-16

 

Shining Star Funding Logo VIEW ONLINE
SHORT APP
VISIT OUR SITE

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

img-230-130 img-230-130

Weekly Mortgage Watch – October 13 2016

Weekly Mortgage Applications – 10-07-16

  • 30 Year Mortgage Rate increased to 3.47% compared to 3.42% last week. The 30 year rock bottom rate touched in last 10 years is 3.39%

  • 15 Year Mortgage Rate increased to 2.76% compared to 2.72% last week. The 15 year rock bottom rate touched in last 10 years is 2.70%

  • 5/1 Adjustable Rate Mortgage Rate increased to 2.82% compared to 2.80% last week. The 5 year rock bottom rate touched in last 10 years is 2.73%

  • Rates are are now at their lowest levels reached in last 10 years

  • Mortgage applications decreased 6.0 percent for the week ended October 07, 2016

  • Mortgage apps have oscillated between increases and decreases over the last few weeks

  • Mortgage apps move in the inverse direction of rates. Rates vary due to stock fluctuations and due to less than expected financial results or less than expected job growth

  • Share your comments on our Facebook page!

img-134-31 img-134-31

“Sometimes the best thing you can do is not think, not wonder, not imagine, not obsess. Just breathe, and have faith that everything will work out for the best.”

– Anonymous

img-300-29


HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – September 2016

img-400-300
  • Average Bay Area county selling price for counties analysed was $1,167,873 in September 2016. San Mateo County led with the highest average selling price at $2,267,472, followed by Santa Clara County at $1,876,979, followed by Santa Cruz County at $832,490, followed by Alameda County at $786,255, followed by Contra Costa County at $711,746, followed by Monterey County at $594,151 and followed by San Benito County at $481,388

  • Total Average Days on Market in Bay Area counties analysed was 72 days. 109 days for Monterey County, 81 days for San Benito County, 73 days for Santa Cruz County, 69 days for Contra Costa County, 65 days for San Mateo County, 64 days for Santa Clara County and 62 days for Alameda County

  • Bay Area counties analysed had Listings Sold of 4,310 in September 2016. Alameda County had the highest at 1,298, followed by Contra Costa County at 1,091, Santa Clara County at 1,079, San Mateo County at 399, Monterey County at 224, Santa Cruz County at 170 and San Benito County at 45

  • Total average Sales Price / List Price in Bay Area counties stood at 100.17% in September 2016. Alameda County had the highest average Sales Price/ List Price at 103.73% followed by San Mateo County at 101.26%, Contra Costa County at 100.09%, Santa Clara County at 99.85%, San Benito County at 99.55%, Santa Cruz County at 99.21% and Monterey County at 95.57%

img-134-31

img-230-300 img-230-300

Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – September 2016

Unemployment Rate and Initial Claims – August 2016

  • Mortgage origination Conventional loans decreased to $1,091 Bn in 2014 compared to $1,570 Bn in 2013. Forecasts for 2015 is at $1,344 Bn. Forecast for 2016 is $1583 Bn

  • Mortgage origination for FHA and VA increased to $125 Bn in 2nd quarter of 2016 compared to $95 Bn in the 1st quarter. Forecast for 3rd quarter of 2016 is at $103 Bn . By last quarter of 2017 forecast is $84 Bn

  • Mortgage origination Total decreased to $1,350 Bn in 2014 compared to $1,925 Bn in 2013. Mortgage origination forecasts for 2015 is at $1,750 Bn. Forecast for 2016 is $2000 Bn and forecast for 2017 is $1650 Bn

  • Share your comments on our Facebook page!

  • Initial Claim in US is at 263,000 with a 4.6% decrease in August 2016 and Initial Claim in California is at 41,083 with a 4.4 decrease in August 2016

  • Unemployment rate in US is at 4.9% with a 3.9% decrease in August 2016 and Unemployment in California is at 5.5% with a 8.3% decrease in August 2016

  • Los Angeles MSA has the highest decrease of unemployment rate from year ago at 22% in August 2016

  • Bakersfield MSA has the least decrease of unemployment rate from year ago with only 3.2% in August 2016

img-134-31 img-134-31

“Life is 10% what happens to us and 90% how we react to it.”

– Dennis P. Kimbro

img-300-29


FEATURED LOAN PROGRAM

img-400-300

Zero Down Loan – Conventional and FHA

  • DPA is a true gift with no repayment.Upto 5% of Purchase Price.DPA not directly offered by Shining Star Funding

  • DPA is only for down payment and closing costs.No cash back allowed

  • Conventional,FHA Loans and VA Loans.Maximum Loan amount $417000

  • Not limited to first time home buyers

img-134-31

img-230-300 img-230-300

5% – 10% down loans

2 VA Loans

  • 5% down to county conforming limits.10% down to $975500.80/10/10 loans with no mi

  • First Loan limited to County Conforming limits

  • Second Loan not directly offered by Shining Star Funding.Maximum second loan $350000

  • 1 year return program available for self employment,wage earners,retired and rental income earners

  • No requirement to close your currently outstanding VA loan

  • VA county limits, guidelines and eligibility apply

  • Minimum Fico 620

  • Manual and Automated underwriting OK

img-134-31 img-134-31

Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let’s make it happen!

img-500-286
SCHEDULE A LOAN OFFICER PHONE CALL FILL OUT THIS SHORT APPLICATION FORM NOW

“Enjoy Life Today, Yesterday is gone and Tomorrow may never come.”

– Anonymous

img-300-29


WEEKLY NEWS UPDATE!

Presidential election dampers US housing sector confidence

img-300-29

img-146-90

US housing starts total 1.14M in Aug vs. 1.19M starts expected

img-300-29

img-146-90

Wells Fargo CEO John Stumpf is out

img-300-29

img-146-90

The Fed has its eye on the ‘new housing crisis’

img-300-29

img-146-90

“Sometimes you win, sometimes you learn.”

– Anonymous

img-300-29


OTHER NICHE LOAN PROGRAMS

Product Loan And Niches

Niche Loan Programs

img-230-130 img-230-130
  • Conventional Loan

  • FHA Loans

  • 100% VA Loans

  • Jumbo Loans

  • Zero Down Loan

  • 2 VA Loans

  • 1 Year Tax Verification

  • Remove Mortgage Insurance

img-134-31 img-134-31

Second Opinion Doesn’t Hurt!

Talk to me today about your scenario and let me help you find the perfect solution for you!

img-500-286
SCHEDULE A LOAN OFFICER PHONE CALL FILL OUT THIS SHORT APPLICATION FORM NOW
    

USEFUL LINKS

Short App

Unsubscribe

 

ABOUT US AND CONTACT US

About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

 

image_pdfimage_print

Leave a Reply

Your email address will not be published. Required fields are marked *