Weekly Newsletter – 12-02-16

 

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 01 2016

Weekly Mortgage Applications – 11-25-16

  • 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.
  • 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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“The greatest glory in living lies not in never falling, but in rising every time we fall.”

– Nelson Rolihlahla Mandela

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HOUSING AND ECONOMIC DATA

Housing Starts – October 2016

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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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US Homes Report – October 2016

Economic Indicators – October 2016

  • 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
  • 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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“Just remember, even your worst days only have twenty-four hours.”

– Anonymous

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FEATURED LOAN PROGRAM

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Remove Mortgage Insurance

  • 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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1 Year Tax Verification

Jumbo Loan

  • 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
  • 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

“For every dark night there’s a brighter day.”

– Tupac

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WEEKLY NEWS UPDATE!

US 3 rd Quarter GDP Revised Up To 3.2% – And That’s Real Growth

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US housing starts surge to 9-year high in October

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Mnuchin Pick for Treasury May Signal Moderate Approach to Reform

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Fannie and Freddie have yet to change scoring system for mortgage applicants

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“The future belongs to those who prepare for it today.”

– Malcolm X

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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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