Weekly Newsletter – 11-25-16

 

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – November 24 2016

Weekly Mortgage Applications – 11-18-16

  • 30 Year Mortgage Rate increased to 4.03% compared to 3.94% last week. The 30 year rock bottom rate touched in last 10 years is 3.314%
  • 15 Year Mortgage Rate increased to 3.25% compared to 3.14% last week. The 15 year rock bottom rate touched in last 10 years is 2.63%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.12% compared to 3.07% last week. The 5 year rock bottom rate touched in last 10 years is 2.74%
  • Rates are are still low.Purchase or Refinance before rates move up further.
  • Mortgage applications increased 5.5 percent for the week ended November 18, 2016
  • This is the first Mortgage Application increase after 4 weeks of decreases
  • 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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“Be proud of your pain, for you are stronger than those with none.”

– Lois Lowry

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HOUSING AND ECONOMIC DATA

Consumer Price Index – October 2016

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  • San Francisco MSA leads the Primary House Rent index at 402.124 reflecting a 6.3% increase from year ago followed by Los Angeles at 337.209 reflecting a 5.3% increase from year ago. National index is at 300.400 reflecting a 3.8% increase from year ago
  • CPI in September 2016 for all items in San Francisco is highest at 270.306 with 3.6% increase from year ago compared to Los Angeles at 251.098 with 2.2% increase from year ago and National at 241.863 with a 1.6% increase from year ago
  • San Francisco MSA housing index leads at 317.445 with a 6.7% increase in September 2016 compared to Los Angeles at 281.615 with 4.6% increase and National at 246.264 with 2.9% increase from year ago
  • Share your comments on our Facebook page
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US Homes Sales Report – October 2016

US Homes Prices Report – October 2016

  • Number of units of existing home sales for month of October 2016 is at 5,600,000 and is a 2.0% increase compared to last month
  • West census region is at 1,270,000 number of units and is a 0.8% increase for October 2016 compared to last month. Midwest census region for October 2016 is at 1,360,000 number of units and a 2.3% increase compared to last month
  • South census region of October 2016 is at 2,220,000 number of units and a 2.8% increase from month ago
  • Northeast census region of October 2016 is at 62,000 number of units and is 6.1% lower than last month
  • Median Sales Price of Existing Homes in US decreased to $232,200 with a 1.3% decrease from month ago
  • Median Sales Price in West increased to $345,800 with a 0.1% increase in October 2016 compared to last month
  • Midwest median sales price decreased to $181,500 with a 2.3% decrease compared to last month and South is at $202,300 reflecting a 1.7% decrease from month ago
  • Northeast median sales price has decreased to $255,500 reflecting a 2.3% decrease from month ago
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“Never give up. Trying to do what you really want to do. Where there is love and inspiration you ca not go wrong.”

– Anonymous

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FEATURED LOAN PROGRAM

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Zero Down Loan – 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
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2 VA Loans

5% – 10% Down Loan

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

“Maybe it’s not about the happy ending, maybe it’s about the story.”

– Anonymous

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WEEKLY NEWS UPDATE!

San Francisco home sales fall to lowest level since crisis

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5 big real-estate trends to watch in 2017

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Higher mortgage rates scuttle some sales

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Strong FHA annual report stirs up calls for mortgage insurance premium cut

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“There are far, far better things ahead than any we leave behind.”

– C.S. Lewis

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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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