Weekly Newsletter – 12-16-16

 

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 15 2016

Weekly Mortgage Applications – 12-09-16

  • 30 Year Mortgage Rate increased to 4.16% compared to 4.13% last week. The 30 year rock bottom rate touched in last 10 years is 3.32%
  • 15 Year Mortgage Rate increased to 3.37% compared to 3.36% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.19% compared to 3.17% last week. The 5 year rock bottom rate touched in last 10 years is 2.70%
  • Rates are are still low.Purchase or Refinance before rates move up further
  • Mortgage applications decreased 4.0 percent for the week ended December 09, 2016
  • Mortgage apps have decreased for 6 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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“Make your life a story worth telling.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Home Price Index – California – 3rd Quarter 2016

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  • Home Price index in US is at 382.86 with 5.6% increase from year ago in 3rd Quarter of 2016
  • California HPI is at 573.19 with 6.4% increase from year ago in 3rd Quarter of 2016
  • San Francisco MSA leads the home price index at 401.58 with 7.1% increase from year ago
  • Visalia MSA has the lowest home price index at 180.8 with 3.7% increase from year ago
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Home Price Index Southern California – 3rd Quarter 2016

Home Price Index Northern California – 3rd Quarter 2016

  • Home Price index in US is 382.86 with 5.6% change from year ago in 3rd Quarter of 2016
  • California is at 573.19 with 6.4% from year ago in 3rd Quarter of 2016
  • In Southern California,Los Angeles MSA leads the home price index at 316.31 followed by San Diego at 302.78, San Luis Obispo at 302.31, Santa Barbara at 277.07, Oxnard at 281.72, Santa Barbara at 280.3 Riverside at 256.89 and Visalia at 180.8
  • San Luis Obispo MSA leads the home price index annual rate at 7.1%. Visalia grew at the slowest rate of 3.7%
  • Home Price index for  US is at 382.86 with a 5.6% increase from year ago, for 3rd Quarter of 2016
  • Home Price index for California is at 573.19 with a 6.4% increase from year ago, for 3rd Quarter of 2016
  • In North California, San Francisco leads at 401.58, followed by San Jose MSA at 384.39, Santa Cruz at 309.99, Napa at 301.56, Santa Rosa at 284.98, Salinas at 251.05, Vallejo at 238.57, Sacramento at 238.04, Modesto at 215.48, Stockton at 213.05, Fresno at 203.14, Merced at 197.99 and Bakersfield at 194.17
  • San Jose MSA had the highest increase from year ago at 8.3% and Bakersfield MSA had the lowest increase at 2.3%
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“Worry less, smile more, accept criticism, take responsibility, listen, love, don’t hate, embrace change, feel good anyway.”

– Anonymous

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FEATURED LOAN PROGRAM

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Jumbo Loan

  • 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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2 VA Loans

Remove Mortgage Insurance

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

“Great acts are made of small deeds.”

– Lao Tzu

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WEEKLY NEWS UPDATE!

Fannie Mae will waive appraisals on some refinance loans

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The 5 real estate trends that will shape 2017

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Optimism, Caution Set To Greet Real Estate In 2017

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How the Fed’s Interest Rate Increase Can Affect You

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“If you can count your money, you don’t have a billion dollars.”

– J. Paul Getty

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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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