Weekly Newsletter – 12-23-16

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 22 2016

Weekly Mortgage Applications – 12-16-16

  • 30 Year Mortgage Rate increased to 4.30% compared to 4.16% last week. The 30 year rock bottom rate touched in last 10 years is 3.37%
  • 15 Year Mortgage Rate increased to 3.52% compared to 3.37% last week. The 15 year rock bottom rate touched in last 10 years is 2.65%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.32% compared to 3.19% last week. The 5 year rock bottom rate touched in last 10 years is 2.71%
  • Rates are are still low.Purchase or Refinance before rates move up further
  • Mortgage applications increased 2.5 percent for the week ended December 16, 2016
  • This is the first Mortgage Application increase after 3 weeks of decreases
  • Mortgage apps move in the inverse direction of rates. Rates have jumped up due to stocks moving up and the federal reserve bank rate increase
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“The secret of business is to know something that nobody else knows.”

– Aristotle Onassis

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HOUSING AND ECONOMIC DATA

Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – November 2016

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  • Mortgage origination Conventional loans decreased to $1,091 Bn in 2014 compared to $1,570 Bn in 2013. Forecasts for 2015 is at $1,344 Bn. Forecast for 1st quarter of 2016 is $290 Bn and will increase to $459 Bn in last quarter of 2016. Forecase for 2017 will range from $205 Bn to $349 Bn
  • Mortgage origination for FHA and VA increased to $113 Bn in 2nd quarter of 2016 compared to $95 Bn in the 1st quarter. Forecast for 3rd quarter of 2016 is at $131 Bn and $94 Bn by last quarter of 2016
  • Mortgage origination Total decreased to $1,350 Bn in 2014 compared to $1,925 Bn in 2013. Mortgage origination forecasts for 2015 is at $1,750 Bn. Forecast for 1st quarter of 2016 is $385 Bn and  upto $490 Bn in the last quarter. Forecase for 2017 will range from $300 Bn to $450 Bn for each quarter
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Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – November 2016

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – November 2016

  • Actual unemployment is at 4.9% in Q3 of 2016. Forecast unemployment rate for 4th quarter of 2016 is 4.8% and will drop off to 4.7% in the last quarter of 2017
  • CPI decreased to 1.6% in Q3 of 2016.  Forecast for 4th quarter of 2016 is at 2.0% and will continue to soar upto 2.5% in last quarter of 2017
  • Real GDP increase increased to 2.9% in Q3 of 2016. Real GDP Forecast in 4th Quarter of 2016 will increase to 2.1%. Forecast for 2017 is 1.9%
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  • Housing Starts actual is at 1.14 Mn in Q3 of 2016. Forecast for 4th quarter of 2016 is higher at 1.20 Mn going up to 1.30 Mn in last quarter of 2017
  • Total Home Sales increased to 5.98Mn  in Q3 of 2016. Forecast for 4th quarter of 2016 is expected to be 6.00 Mn. Total Home sales forecast for 2017 is at 5.70 Mn in 1st quarter and up to 5.80 Mn in the last quarter
  • FMHPI house price appreciation is at 1.6% in Q3 of 2016. Forecast for 4th quarter of 2016 is at 1.2%. House price appreciation forecast for 2017 is at 1.2% in the 1st quarter and 1.0% in the last quarter
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“Success is on the same road as failure, success is just a little further down the road”

– Jack Hyles

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FEATURED LOAN PROGRAM

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1 Year Tax Verification

  • 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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5% – 10% Down Loan

2 VA Loans

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

“Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”

– Bill Gates

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WEEKLY NEWS UPDATE!

Borrowers brush off rising rates, pushing mortgage applications 2.5% higher

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U.S. home sales near 10-year high as mortgage rates rise

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Tax Reform Could Preserve The Mortgage Interest Deduction In Name Only

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2017 housing market forecasts — suburbs are in, low mortgage rates are out

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“Success isn’t just about what you accomplish in your life, it’s about what you inspire others to do.”

– Anonymous

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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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