Weekly Newsletter – 12-30-16

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – December 29 2016

Weekly Mortgage Applications – 12-16-16

  • 30 Year Mortgage Rate increased to 4.32% compared to 4.30% last week. The 30 year rock bottom rate touched in last 10 years is 3.35%
  • 15 Year Mortgage Rate increased to 3.55% compared to 3.52% last week. The 15 year rock bottom rate touched in last 10 years is 2.65%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.30% compared to 3.32% 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 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
  • Share your comments on our Facebook page!
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“Whether you believe you can, or believe you can’t, you are usually right.”

– Henry Ford

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HOUSING AND ECONOMIC DATA

US Homes Report – November 2016

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  • South had the highest averages in Existing Home Sales at 1.4% increase and Northeast had a 2.8% percent increase in Existing Home Prices in November 2016
  • Existing home sales Months Supply was at 4.0 months supply reflecting 7.0% decrease from  month ago. Existing home sales Housing inventory decreased to 1,850,000 units reflecting 8.0% 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 22nd of December is 4.3% for 30 yr, 3.52% for 15  yr, 3.32% for 5 yr and Mortgage Applications increased by 2.5% for the week ending December 16th of 2016
  • New privately owned housing units decreased to 1,090,000 in November 2016 reflecting 6.9% decrease from year ago. New one family houses sold in US increased to 592,000 units with 16.5% increase from year ago and Mean Sales Price of Existing Homes has increased to $276,800 with 0.5% increase from month ago
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Fannie Mae Housing Survey – November 2016

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – November 2016

  • Average Home Price Change Expectation in next 12 months is 2.6% and the Average 12 Month Rental Price Change Expectation is 4.2%
  • Home Prices will go up in the next 12 months based on 43% responses. Home Rental Prices will go up in the next 12 months based on 52% responses. Mortgage rates will go up in next 12 months based on 55% responses
  • 60% of respondents say it is a good time to buy and 51% says it’s a good time to sell. 54% says it’s easy to get a mortgage today, 67% would rather buy than rent and 34% says that economy is on the right track
  • There are 17% of respondents who are concerned about losing their job over next 12 months. 25% of respondents says that their income will be higher and 47% says their financial situation will get better over the next 12 months
  • Refinancing Share Origination actual is at 39% in 2014. Forecast for 1st quarter of 2015 increased to 58%. The  forecast for refinancing share origination is projected to fall from 51% in 1st quarter of 2016 to 20% in the last quarter of 2017
  • Change in Residential Mortgage Debt is 0.8% in 1st quarter of 2016. Forecast from 2nd quarter of 2016 to last quarter 2017 will range between 2.4% to 4%
  • Share your comments on our Facebook page!
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“If you can’t fly, then run, if you can’t run, then walk, if you can’t walk, then crawl, but whatever you do, you have to keep moving forward.”

– Martin Luther King Jr.

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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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Zero Down Loan – FHA

5% – 10% Down Loan

  • 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
  • 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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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

“Discouragement and failure are two of the surest stepping stones to success.”

– Dale Carnegie

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WEEKLY NEWS UPDATE!

5 Commercial Real Estate Trends To Watch In 2017

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Will 2017 be a good year for the housing market?

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Home Prices in 20 U.S. Cities Increased 5.1% in October

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Ten Economic Questions for 2017

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“Today is a perfect day to start living your dreams.”

– 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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