WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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- 30 Year Mortgage Rate decreased to 4.09% compared to 4.12% last week. The 30 year rock bottom rate touched in last 10 years is 3.38%
- 15 Year Mortgage Rate decreased to 3.34% compared to 3.37% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%
- 5/1 Adjustable Rate Mortgage Rate decreased to 3.21% compared to 3.23% 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
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- Mortgage applications increased 0.8 percent for the week ended January 13, 2017
- Mortgage apps move in the inverse direction of rates
- Last three weeks the rates reduced causing mortgage apps to move in positive territory
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– Maya Angelou
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HOUSING AND ECONOMIC DATA
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- Initial Claim in US is at 251,500 with a 7.6% decrease in November 2016 and Initial Claim in California is at 45,700 with a 1.1% increase in November 2016
- Unemployment rate in US is at 4.6% with a 8% decrease in November 2016 and Unemployment in California is at 5.3% with a 10.2% decrease in November 2016
- Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 16.4% in November 2016
- Bakersfield MSA has the least decrease of unemployment rate from year ago with 3.2% change in November 2016
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- Industrial Production Index has decreased to 103.8589 in November 2016 reflecting a 0.6% decrease from year ago. All Employees Total Non-farm has increased to 145,147 in November 2016 reflecting a 1.6% increase from year ago
- Average Initial Claims in United States decreased to 251,500 in November 2016 reflecting a 7.6% decrease from year ago. The Average Initial Claims in California increased to 45,700 in November 2016 reflecting a 1.1% change from year ago
- Santa Rosa in California had the highest drop in Unemployment Rate in November 2016 with 16.4% decrease from year ago. 10 Year Break even Inflation rate increased to 1.82% with 15.9% increase from year ago. The average hourly earning of all employees has increased to 25.90 dollars per hour with 2.5% increase in November 2016
- Personal consumption expenditures has increased to $12,970.4 Bn in November 2016 with a 4.2% increase from year ago and Personal savings rate decreased to 5.5% in November 2016 reflecting a 9.3% decrease from year ago
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- San Francisco MSA leads the Primary House Rent index at 406.379 reflecting a 6.7% increase from year ago followed by Los Angeles at 338.473 reflecting a 5.2% increase from year ago. National index is at 301.587 reflecting a 3.9% increase from year ago
- CPI for all items in San Francisco is highest at 270.306 with 3.6% increase from year ago compared to Los Angeles at 250.185 with 1.8% increase from year ago and National at 242.348 with a 1.7% increase from year ago
- San Francisco MSA housing index leads at 317.445 with a 6.7% increase compared to Los Angeles at 281.4 with 4.5% increase and National at 246.271 with 2.9% increase from year ago
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– Colin Powell
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FEATURED LOAN PROGRAM
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- 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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- 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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- 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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| With inhouse underwriting and funding. Call me and let’s make it happen! |
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– Anonymous
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– Winston Chirchill
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OTHER NICHE LOAN PROGRAMS
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- Conventional Loan
- FHA Loans
- 100% VA Loans
- Jumbo Loans
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- Zero Down Loan
- 2 VA Loans
- 1 Year Tax Verification
- Remove Mortgage Insurance
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| Talk to me today about your scenario and let me help you find the perfect solution for you! |
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