Weekly Newsletter – 10-21-16

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – October 20 2016

Weekly Mortgage Applications – 10-14-16

  • 30 Year Mortgage Rate increased to 3.52% compared to 3.47% last week. The 30 year rock bottom rate touched in last 10 years is 3.37%
  • 15 Year Mortgage Rate increased to 2.79% compared to 2.76% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%
  • 5/1 Adjustable Rate Mortgage Rate increased to 2.85% compared to 2.82% last week. The 5 year rock bottom rate touched in last 10 years is 2.75%
  • Rates are are now at their lowest levels reached in last 10 years
  • Mortgage applications increased 0.6 percent for the week ended October 14, 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
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“Intelligence without ambition is a bird without wings.”

– Salvador Dali

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HOUSING AND ECONOMIC DATA

Fannie Mae Housing Survey – September 2016

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  • Average Home Price Change Expectation in next 12 months is 2.0% and the Average 12 Month Rental Price Change Expectation is 3.8%
  • Home Prices will go up in the next 12 months based on 43% responses. Home Rental Prices will go up in the next 12 months based on 54% responses. Mortgage rates will go up in next 12 months based on 49% responses
  • 60% of respondents say it is a good time to buy and 53% says it’s a good time to sell. 52% says it’s easy to get a mortgage today, 64% would rather buy than rent and 35% says that economy is on the right track
  • There are 15% of respondents who are concerned about losing their job over next 12 months. 25% of respondents says that their income will be higher and 41% says their financial situation will get better over the next 12 months
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Consumer Price Index – September 2016

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

  • San Francisco MSA leads the Primary House Rent index at 400.484 reflecting a 6.5% increase from year ago followed by Los Angeles at 335.004 reflecting a 5.0% increase from year ago. National index is at 298.962 reflecting a 3.7% increase from year ago
  • CPI in September 2016 for all items in San Francisco is highest at 267.864 with 3.1% increase from year ago compared to Los Angeles at 250.145 with 1.9% increase from year ago and National at 241.002 with a 1.5% increase from year ago
  • San Francisco MSA housing index leads at 311.699 with a 5.8% increase in September 2016 compared to Los Angeles at 280.005 with 4.3% increase and National at 246.127 with 2.7% increase from year ago
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  • 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
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“Dream as though you have nothing to lose, Believe as though anything is possible, Love as though your heart knows no bounds, Live as though there is only today.”

– Anonymous

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FEATURED LOAN PROGRAM

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5% – 10% down 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
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Zero Down Loan – FHA

2 VA Loans

  • 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
  • Get a second VA loan without closing your current VA loan
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK
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Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let’s make it happen!
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SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

“Never give up. There is no such thing as ending, just a new beginning.”

– Anonymous

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WEEKLY NEWS UPDATE!

IRAs Gone Wild: How To Invest In Private Equity, Real Estate, Gold

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The American Billionaires Behind The Most Jobs

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For foreign home buyers, this U.S. city is the next big thing

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6 global cities that could be in housing bubble

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“Only those who will risk going too far can possibly find out how far one can go.”

– T.S. Eliot

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OTHER NICHE LOAN PROGRAMS

Product Loan And Niches

Niche Loan Programs

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  • Conventional Loan
  • FHA Loans
  • 100% VA Loans
  • Jumbo Loans
  • Zero Down Loan
  • 2 VA Loans
  • 1 Year Tax Verification
  • Remove Mortgage Insurance
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Second Opinion Doesn’t Hurt!

Talk to me today about your scenario and let me help you find the perfect solution for you!
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SCHEDULE A LOAN OFFICER PHONE CALL FILL OUT THIS SHORT APPLICATION FORM NOW
 

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About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

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