WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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- 30 Year Mortgage Rate increased to 4.08% compared to 4.03% last week. The 30 year rock bottom rate touched in last 10 years is 3.32%
- 15 Year Mortgage Rate increased to 3.34% compared to 3.25% last week. The 15 year rock bottom rate touched in last 10 years is 2.64%
- 5/1 Adjustable Rate Mortgage Rate increased to 3.15% compared to 3.12% last week. The 5 year rock bottom rate touched in last 10 years is 2.72%
- Rates are are still low.Purchase or Refinance before rates move up further.
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- Mortgage applications decreased 9.4 percent for the week ended November 25, 2016
- Mortgage apps have decreased for 5 weeks in the last 7 weeks reviewed
- Mortgage apps move in the inverse direction of rates. Rates have jumped up due to stocks moving up and the anticipated federal reserve bank rate increase
- Share your comments on our Facebook page!
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– Nelson Rolihlahla Mandela

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HOUSING AND ECONOMIC DATA
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- New privately owned housing unit starts increased to 207,000 units with 2.0% percent change from year ago in Q3 of 2016
- Housing Starts:2-4 Units is at 9,000 units in October 2016 with a 25.0% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,323,000 units with a 23.3% increase in October 2016 from year ago
- Privately Owned Housing Starts 1 Unit Structures increased to 869,000 units with a 21.7% increase from year ago, in October 2016
- Privately Owned Housing Starts 5 Unit Structures or More increased to 445,000 units with a 28.2% increase from year ago, in October 2016
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- South had the highest averages in Existing Home Sales at 2.8% increase and West had a 0.1% percent increase in Existing Home Prices in October 2016
- Existing home sales Months Supply was at 4.3 months supply reflecting 2.3% decrease from month ago. Existing home sales Housing inventory decreased to 2,020,000 units reflecting 0.5% decrease from month ago
- SFR Delinquency Rate this 3rd Quarter of 2016 is at 4.30% reflecting a 21.2% decrease from year ago, Mortgage Rate Reading for 17th of November is 3.94% for 30 yr, 3.14% for 15 yr, 3.07% for 5 yr and Mortgage Applications increased by 5.5% for the week ending November 18th of 2016
- New privately owned housing units increased to 1,323,000 in October 2016 reflecting 23.3% increase from year ago. New one family houses sold in US increased to 563,000 units with 17.8% increase from year ago and Mean Sales Price of Existing Homes has decreased to $274,300 with 1.0% decrease from month ago
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- Homeownership Rate for US is 63.7% in January 2015, lowest in last 11 years. US Leading Index is at 1.30% in October 2016 reflecting a 18.2% decrease compared to last year and California Leading Index is at 2.02% in October 2016 reflecting a 6.0% decrease from year ago
- Major Currencies US dollar index has increased in strength to 104.965 in October 2016 reflecting a 1.8% increase from year ago. Gold Fixing Price London Bullion Market Based in US Dollars increased to 1266.569 in October 2016 reflecting a 9.3% increase from year ago
- Crude Oil prices increase to 49.69 Dollars in October 2016 reflecting a 3.0% increase from year ago. Federal Deficit was at -2.43065% in January 2015 reflecting a 12.8% decrease from year ago. Total Vehicles sales decreased to 18.3 Million in October 2016 reflecting an 1.1% decrease from year ago
- Mortgage backed securities for all maturities decreased to $1,740,082 Mn in October 2016 reflecting a 0.5% decreased from year ago. Real Gross Domestic Product has increased to 16712.5 Bn Dollars with 1.6% increase from year ago. Federal Debt has increased to 105.04870 percent of the GDP with 4.2% increase from year ago
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– Anonymous

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FEATURED LOAN PROGRAM
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- 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
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- 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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- 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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With inhouse underwriting and funding. Call me and let’s make it happen! |
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– Tupac

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– Malcolm X

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OTHER NICHE LOAN PROGRAMS
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- Conventional Loan
- FHA Loans
- 100% VA Loans
- Jumbo Loans
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- Zero Down Loan
- 2 VA Loans
- 1 Year Tax Verification
- Remove Mortgage Insurance
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Talk to me today about your scenario and let me help you find the perfect solution for you! |
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