Weekly Newsletter – 11-04-16

 
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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – November 03 2016

Weekly Mortgage Applications – 10-28-16

  • 30 Year Mortgage Rate increased to 3.54% compared to 3.47% last week. The 30 year rock bottom rate touched in last 10 years is 3.39%

  • 15 Year Mortgage Rate increased to 2.84% compared to 2.78% last week. The 15 year rock bottom rate touched in last 10 years is 2.70%

  • 5/1 Adjustable Rate Mortgage Rate increased to 2.87% compared to 2.84% last week. The 5 year rock bottom rate touched in last 10 years is 2.74%

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

  • Mortgage applications decreased 1.2 percent for the week ended October 28, 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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“We make a living by what we get, but we make a life by what we give.”

– Winston Churchill

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HOUSING AND ECONOMIC DATA

Housing Starts – September 2016

 

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  • New privately owned housing unit starts increased to 218,000 units with 6.3% percent change from year ago  in Q2 2016

  • Housing Starts:2-4 Units is at 14,000 units in September 2016 with 27.3% increased from year ago. Housing Starts Total: New Privately Owned housing units starts decreased to 1,047,000 units with a 11.9% decrease in September 2016 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 783,000 units with a 5.4% increase from year ago, in September 2016

  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 250,000 units with a 42.5% decrease from year ago, in September 2016

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US Homes Report – September 2016

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – October 2016

  • West had the highest averages in Existing Home Sales at 5.0% increase and Northeast had a 4.6% percent decrease in Existing Home Prices in September 2016

  • Existing home sales Months Supply was at 4.5 months supply reflecting 2.2% decrease from  month ago. Existing home sales Housing inventory increased to 2,040,000 units reflecting 1.5% increase from month ago

  • SFR Delinquency Rate this 2nd Quarter of 2016 is at 4.55% reflecting a 21.4% decrease from year ago, Mortgage Rate Reading for 27th of October is 3.7% for 30 yr, 2.78% for 15  yr, 2.84% for 5 yr and Mortgage Applications decreased by 4.1% for the week ending October 21st of 2016

  • New privately owned housing units decreased to 1,047,000 in September 2016 reflecting 11.9% decrease from year ago. New one family houses sold in US increased to 593,000 units with 229.8% increase from year ago and Mean Sales Price of Existing Homes has decreased to $276,200 with 2.1% decrease from month ago

  • Housing Starts actual is at 1.16 Mn in Q2 of 2016. Forecast for 3rd quarter of 2016 is higher at 1.18 Mn going up to 1.43 Mn in last quarter of 2017

  • Total Home Sales increased to 6.08Mn  in Q2 of 2016. Forecast for 3rd quarter of 2016 is expected to be 6.15 Mn. Total Home sales forecast for 2017 is at 6.11 Mn in 1st quarter and up to 6.21 Mn in the last quarter

  • FMHPI house price appreciation is at 1.4% in Q2 of 2016. Forecast for 3rd quarter of 2016 is at 1.3%. House price appreciation forecast for 2017 is at 1.2% in the 1st quarter and 1.0% in the last quarter

  • Share your comments on our Facebook page!

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“Dream as if you’ll live forever, Live as if you’ll die tomorrow.”

– Anonymous

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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

Jumbo Loan

  • 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

  • With a jumbo mortgage, you’ll get low rates for your jumbo loan

  • Loan amounts as low as $300000 and upto $2.5Mn. Back end ratios to 49.99%

  • Asset Depletion program.We can use estimated income  based on assets in hand

  • Projected income from future job.We can use income from future accepted offer

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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

“If you are waking up with the sensation that there has got to be more in life… Then there is.”

– Anonymous

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WEEKLY NEWS UPDATE!

Unemployment Dips Below 5% in U.S. as America Prepares to Vote

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How housing would fare under Clinton, Trump

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Freddie Mac Has Solid 3Q

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5 best and worst U.S. real estate markets

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“It might take a year, it might take a day, but what’s meant to be will always find its way.”

– Anonymous

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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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