Weekly Newsletter – 12-09-16

 

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 08 2016

Weekly Mortgage Applications – 12-02-16

  • 30 Year Mortgage Rate increased to 4.13% compared to 4.08% last week. The 30 year rock bottom rate touched in last 10 years is 3.34%
  • 15 Year Mortgage Rate increased to 3.36% compared to 3.34% last week. The 15 year rock bottom rate touched in last 10 years is 2.67%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.17% compared to 3.15% last week. The 5 year rock bottom rate touched in last 10 years is 2.69%
  • Rates are are still low.Purchase or Refinance before rates move up further
  • Mortgage applications decreased 0.7 percent for the week ended December 02, 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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“It isn’t mountains ahead to climb that wear you down. It’s the pebble in your shoe.”

– Muhammad Ali

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HOUSING AND ECONOMIC DATA

Home Price Index – 3rd Quarter 2016

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  • Home Price Index in California increased to 6.4% in 3rd Quarter of 2016. San Francisco led the Price Index at 7.1% followed by Los Angeles at 6.2%, San Diego at 6.1% and Oxnard at 5.5%
  • In Central Valley,Modesto MSA  leads the Home Price Index at 8.3% followed by Stockton at 8.1% and Merced at 7.6% in 3rd Quarter of 2016 compared to last year
  • In North Bay Area,Vallejo MSA leads the HPI at 8.2% followed by Napa at 7.6% and Santa Rosa at 6.7%. San Luis Obispo MSA also leads the HPI at 7.9% followed by Santa Barbara at 4.0% and Visalia at 3.7%
  • San Jose MSA and Sacramento MSA increased at 7.1%, Riverside MSA at 5.2%. Salinas MSA leads the HPI at 8.4% followed by Santa Cruz at 7.9% .Fresno MSA leads the HPI at 4.3% followed by Bakersfield at 2.3%
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Payroll and Unemployment – October 2016

Unemployment Rate and Initial Claims – October 2016

  • Industrial Production Index has decreased to 104.2687 in October 2016 reflecting a 0.9% decrease from year ago. All Employees Total Non-farm  has increased to 144,950 in October 2016 reflecting a 1.7% increase from year ago
  • Average Initial Claims in United States decreased to 255,800 in October 2016 reflecting a 4.3% decrease from year ago. The Average Initial Claims in California decreased to 43,702 in October 2016 reflecting a 2.6% change from year ago
  • Santa Rosa in California  had the highest drop in  in Unemployment Rate in October 2016 with 16.4% decrease from year ago. 10 Year Breakeven Inflation rate increased to 1.67% with 11.3% increase from year ago. The average hourly earning of all employees has increased to 25.92 dollars per hour with 2.8% increase in October 2016
  • Personal consumption expenditures has increased to $12,924.9 Bn in October 2016 with a 4.2% increase from year ago and Personal savings rate decreased to 6.0% in October 2016 reflecting a 1.6% decrease  from year ago
  • Initial Claim in US is at 255,800 with a 4.3% decrease in October 2016 and Initial Claim in California is at 43,702 with a 2.6 decrease in October 2016
  • Unemployment rate in US is at 4.9% with a 2% decrease in October 2016 and Unemployment in California is at 5.5% with a 6.8% decrease in October 2016
  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in October 2016
  • Bakersfield MSA has the least decrease of unemployment rate from year ago with 1.1% change in October 2016
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“Life is too important to be taken seriously.”

– Oscar Wilde

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FEATURED LOAN PROGRAM

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5% – 10% Down Loan

  • 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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Zero Down Loan – FHA

1 Year Tax Verification

  • 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
  • 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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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

“We all die. The goal isn’t to live forever, the goal is to create something that will.”

– Anonymous

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WEEKLY NEWS UPDATE!

China has just overtaken the United States as the world’s largest economy

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Obama’s biggest parting gift to Trump may be the economy

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Refi Pool Shrinks by 4 Million

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Fannie-Freddie Debate Revived by Mnuchin Comments on Trump Plans

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“For every positive change you make in your life, something else also changes for the better – It creates a chain reaction.”

– Leon Brown

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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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