Weekly Newsletter – 01-13-17

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – January 12, 2017

Weekly Mortgage Applications – 01-06-17

  • 30 Year Mortgage Rate decreased to 4.12% compared to 4.2% last week. The 30 year rock bottom rate touched in last 10 years is 3.40%
  • 15 Year Mortgage Rate decreased to 3.37% compared to 3.44% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.23% compared to 3.33% last week. The 5 year rock bottom rate touched in last 10 years is 2.67%
  • Rates are are still low.Purchase or Refinance before rates move up further
  • Mortgage applications increased 5.8 percent for the week ended January 06, 2017
  • Mortgage apps move in the inverse direction of rates
  • Last two weeks the rates reduced causing mortgage apps to move in positive territory
  • Share your comments on our Facebook page!
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“Mistakes are proof that you are trying.”

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Sales Report – November 2016

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  • Number of units of existing home sales for month of November 2016 is at 5,610,000 and is a 0.7% increase compared to last month
  • West census region is at 1,250,000 number of units and is a 1.6% decrease for November 2016 compared to last month. Midwest census region for November 2016 is at 1,330,000 number of units and a 2.2% decrease compared to last month
  • South census region of November 2016 is at 2,220,000 number of units and a 1.4% increase from month ago
  • Northeast census region of November 2016 is at 59,000 number of units and is 4.8% lower than last month
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Housing Starts – November 2016

Economic Indicators – November 2016

  • 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 3,000 units in November 2016 with a 50.0% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts decreased to 1,090,000 units with a 6.9% decrease in November 2016 from year ago
  • Privately Owned Housing Starts 1 Unit Structures increased to 828,000 units with a 5.3% increase from year ago, in November 2016
  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 259,000 units with a 31.7% decreased from year ago, in November 2016
  • Homeownership Rate for US is 63.7% in January 2015, lowest in last 11 years. US Leading Index is at 1.37% in November 2016 reflecting a 13.3% decrease compared to last year and California Leading Index is at 2.25% in November 2016 reflecting a 15.4% increase from year ago
  • Major Currencies US dollar index has increased in strength to 107.146 in November 2016 reflecting a 0.8% increase from year ago. Gold Fixing Price London Bullion Market Based in US Dollars increased to 1235.980 in November 2016 reflecting a 13.8% increase from year ago
  • Crude Oil prices increase to 44.56 Dollars in November 2016 reflecting a 0.6% 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 18.1 Million in November 2016 reflecting an 2.7% decrease from year ago
  • Mortgage backed securities for all maturities decreased to $1,743,839 Mn in November 2016 reflecting a 0.5% decrease from year ago. Real Gross Domestic Product has increased to 16727.0 Bn Dollars with 1.7% increase from year ago. Federal Debt has increased to 104.80927 percent of the GDP with 4.8% increase from year ago
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“Hardships often prepare ordinary people for an extraordinary destiny.”

– C.S. Lewis

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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

2 VA Loans

  • 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
  • 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

“Never stop learning, because life never stops teaching.”

– Anonymous

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WEEKLY NEWS UPDATE!

Privatizing Fannie Mae and Freddie Mac: How It Can Be Done Effectively

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Housing advocates praise reduction of mortgage insurance premiums

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Despite high consumer confidence, US housing sentiment declines for fifth consecutive month: Fannie Mae

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Obama administration lowers government mortgage costs, claims Trump won’t reverse

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“Mistakes are the stepping stones to wisdom. We learn from trial and error; we become wise by understanding problems.”

– 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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