Weekly Newsletter – 11-11-16

 

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – November 10 2016

Weekly Mortgage Applications – 11-04-16

  • 30 Year Mortgage Rate increased to 3.57% compared to 3.54% last week. The 30 year rock bottom rate touched in last 10 years is 3.40%
  • 15 Year Mortgage Rate increased to 2.88% compared to 2.84% last week. The 15 year rock bottom rate touched in last 10 years is 2.69%
  • 5/1 Adjustable Rate Mortgage Rate increased to 2.88% compared to 2.87% 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 1.2 percent for the week ended November 04, 2016
  • Mortgage apps have oscillated between increases and decreases over the last few months
  • 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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“Be the type of person you want to meet.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Payroll and Unemployment – September 2016

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  • Industrial Production Index has decreased to 104.226 in September 2016 reflecting a 1.0% decrease from year ago. All Employees Total Non-farm  has increased to 144,791 in September 2016 reflecting a 1.8% increase from year ago
  • Average Initial Claims in United States decreased to 256,000 in September 2016 reflecting a 6.2% decrease from year ago. The Average Initial Claims in California decreased to 38,160 in September 2016 reflecting a 4.4% change from year ago
  • Santa Rosa had the highest averages in Unemployment Rate in September 2016 with 16.4% decrease from year ago. 10 Year Breakeven Inflation rate dropped to 1.51% with 0.7% decrease from year ago. The average hourly earning of all employees has increased to 25.82 dollars per hour with 2.7% increase in September 2016
  • Personal consumption expenditures has increased to $12,844 Bn in September 2016 with a 3.7% increase from year ago and Personal savings rate decreased to 5.7% in September 2016 reflecting a 3.4% decrease  from year ago.
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Unemployment Rate and Initial Claims – September 2016

Fannie Mae Housing Survey – October 2016

  • Initial Claim in US is at 256,000 with a 6.2% decrease in September 2016 and Initial Claim in California is at 38,160 with a 4.4 decrease in September 2016
  • Unemployment rate in US is at 5% with a 2% decrease in September 2016 and Unemployment in California is at 5.5% with a 8.3% decrease in September 2016
  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in September 2016
  • Bakersfield MSA has the least decrease of unemployment rate from year ago with 5.7% in September 2016
  • Average Home Price Change Expectation in next 12 months is 1.9% and the Average 12 Month Rental Price Change Expectation is 3.9%
  • Home Prices will go up in the next 12 months based on 41% 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 50% responses
  • 60% of respondents say it is a good time to buy and 55% says it’s a good time to sell. 52% says it’s easy to get a mortgage today, 67% would rather buy than rent and 36% says that economy is on the right track
  • There are 15% of respondents who are concerned about losing their job over next 12 months. 20% of respondents says that their income will be higher and 44% says their financial situation will get better over the next 12 months
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“Thousands of candles can be lit from a single candle and the life of the candle will not be shortened. Happiness never decreases from being shared.”

– Anonymous

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FEATURED LOAN PROGRAM

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2 VA Loans

  • No requirement to close your currently outstanding VA loan
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK
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Zero Down Loan – FHA

5% – 10% Down Loan

  • 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
  • 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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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

“Life is an experiment. The more experiments you make the better.”

– Ralph Waldo Emerson

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WEEKLY NEWS UPDATE!

A Trump market reaction just made housing more expensive

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Trump unveils plan to dismantle Dodd-Frank Act

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Will Trump Tackle Housing Finance Reform?

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U.S. 30-year mortgage rates hit 5-month high: Freddie Mac

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“Live your life as though your every act were to become a universal law.”

– Immanuel Kant

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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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