Weekly Newsletter – 01-27-17

 

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – January 26 2017

Weekly Mortgage Applications – 01-20-17

  • 30 Year Mortgage Rate increased to 4.19% compared to 4.09% last week. The 30 year rock bottom rate touched in last 10 years is 3.42%
  • 15 Year Mortgage Rate increased to 3.4% compared to 3.34% last week. The 15 year rock bottom rate touched in last 10 years is 2.71%
  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.2% compared to 3.21% 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 4 percent for the week ended January 20, 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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“The difference between a successful person and others is not a lac of strength, not a lac of knowledge, but rather a lack in will.”

– Vince Lombardi Jr.

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – December 2016

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  • 30 year Fixed Mortgage Rate decreased to 3.5% in Q3 of 2016 compared to 3.6% last Q2 of 2016. Forecast for 4th quarter of 2016 will increase to 3.8%. Forecast for 1st quarter of 2017 is 4.2% all the way through 4th quarter of 2017
  • 10 year Const. Mat. Treas Rate decreased to 1.6% in Q3 of 2016 compared to 1.8% last Q2 of 2016. Forecast for 4th Quarter of 2016 will increase to 2.1%. Forecast for 1st quarter of 2017 will be 2.6% all the way to the last quarter of 2017
  • 5/1 year Hybrid Treas Indexed ARM Rate is 2.8% in Q3 of 2016. Forecast for 4th Quarter of 2016 will be 3.1%. Forecast for last quarter of 2017 will increase to 3.5%
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Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – December 2016

Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – December 2016

  • 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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  • 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 2.5% until last quarter of 2017
  • Real GDP increased to 3.2% 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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“The more you believe in your own ability to succed, the more likely it is that you will.”

– Shawn Achor

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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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Remove Mortgage Insurance

Zero Down Loan – FHA

  • 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
  • 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
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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

“Most people fail in life not becayse they aim too high and miss, but because they aim too low and hit.”

– Les Brown

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WEEKLY NEWS UPDATE!

Trump administration suspends mortgage premium rate cut

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London will remain the property ‘safe haven’ with more foreign buyers coming in 2017, top real estate CEO says

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Remember ABX? Wall Street Said to Test New Mortgage Index

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Looking to get a mortgage in 2017? Here’s what you need to know

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“Work hard in silence, let your success be your noise.”

– Frank Ocean

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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]hiningstarfunding.com

 

 

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