Weekly Newsletter – 10-28-16

 
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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – October 27 2016

Weekly Mortgage Applications – 10-21-16

  • 30 Year Mortgage Rate decreased to 3.47% compared to 3.52% last week. The 30 year rock bottom rate touched in last 10 years is 3.41%
  • 15 Year Mortgage Rate decreased to 2.78% compared to 2.79% last week. The 15 year rock bottom rate touched in last 10 years is 2.72%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 2.84% compared to 2.85% 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 decreased 4.1 percent for the week ended October 21, 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!
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“Become Who You Are”

– Anonymous

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HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – September 2016

 

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  • 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%
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US Homes Sales Report – September 2016

US Homes Prices Report – September 2016

  • Number of units of existing home sales for month of September 2016 is at 5,470,000 and is a 3.2% increase compared to last month
  • West census region is at 1,250,000 number of units and is a 5.0% increase for September 2016 compared to last month. Midwest census region for September 2016 is at 1,320,000 number of units and a 3.9% increase compared to last month
  • South census region of September 2016  is at 2,160,000 number of units and a 0.9% increase from month ago
  • Northeast census region of September 2016 is at 66,000 number of units and is 14.3% lower than last month
  • Median Sales Price of Existing Homes in US decreased to $234,200 with a 2.4% decrease from month ago
  • Median Sales Price in West decreased to $345,400 with a 0.7% decrease in September 2016 compared to last month
  • Midwest median sales price decreased to $184,500 with a 3.4% decrease compared to last month and South is at $204,000 reflecting a 2.3% decrease from month ago
  • Northeast median sales price has decreased to $261,600 reflecting a 4.6% decrease from month ago
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“If you’re going through hell, keep going.”

– Winston Churchill

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FEATURED LOAN PROGRAM

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1 Year Tax Verification

  • Easy 1 year income verification for Self Employed borrowers
  • First loan up to $625,500.Second Loan upto $350000.Combined 90% financing without MI
  • Family Members can cosign for borrower.Co signor need not occupy home
  • Subject to automated underwriting only.Second loan not directly offered by Shining Star Funding
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Remove Mortgage Insurance

2 VA Loans

  • Single loan to 95% with no mortgage insurance (with lender paid mortgage insurance)
  • Break up your loan for 80% first and 10% second and save MI.Refinances and Purchases OK
  • Refinance to 80% and get rid of MI
  • Automated underwriting only
  • 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

“Those who dare to fail miserably, can achieve greatly.”

– Anonymous

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WEEKLY NEWS UPDATE!

The CEO of one of the largest US homebuilders perfectly summed up the housing market

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Weekly Economic and Financial Commentary

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Mortgage applications fall 4.1% as homebuyers pull back

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Orders for U.S. Capital Goods Decline by Most Since February

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“Discipline is doing what you hate to do, but nonetheless doing it like you love it.”

– Mike Tyson

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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 US AND CONTACT US

About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

Email:          [email protected]

 

 

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