Weekly Newsletter – 02-03-17

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WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS

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Weekly Mortgage Watch – February 02 2017

Weekly Mortgage Applications – 01-27-17

  • 30 Year Mortgage Rate is at 4.19% since last week. The 30 year rock bottom rate touched in last 10 years is 3.53%
  • 15 Year Mortgage Rate increased to 3.41% compared to 3.4% last week. The 15 year rock bottom rate touched in last 10 years is 2.81%
  • 5/1 Adjustable Rate Mortgage Rate increased to 3.23% compared to 3.2% last week. The 5 year rock bottom rate touched in last 10 years is 2.7%
  • Rates are are still low. Purchase or Refinance before rates move up further.
  • Mortgage applications decreased 3.2 percent for the week ended January 27, 2017
  • Mortgage apps move in the inverse direction of rates
  • Rates have generally moved upwards due to money being sucked in to the stock market
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“Success is not easy and it is certainly not for the lazy”

– Anonymous

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HOUSING AND ECONOMIC DATA

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

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  • Mortgage origination Conventional loans increased to $1,344 Bn in 2015 compared to $1,091 Bn in 2014. Forecast for 1st quarter of 2016 is $290 Bn and will increase to $396 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 $131 Bn in 3rd quarter of 2016 compared to $113 Bn in the 2nd quarter. Forecast for 4th quarter of 2016 is at $94 Bn.
  • Mortgage origination Total increased to $1,750 Bn in 2014 compared to $1,350 Bn in 2013.  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 Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – December 2016

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

  • Refinancing Share Origination actual is at 45% in 2015. Forecast for 1st quarter of 2016 increased to 51%.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 3.7% in 3rd quarter of 2016. Forecast from 4th quarter of 2016 to last quarter 2017 will range between 3.7% to 4.3%
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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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“Set a goal that makes you want to jump out of bed in the morning”

– Anonymous

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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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2 VA Loans

5% – 10% Down Loan

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

“A good leader is a person who takes a little more than his share of the blame and a little less than his share of the credit.”

– John C. Maxwell

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WEEKLY NEWS UPDATE!

Citigroup Says Goodbye to Mortgage Servicing

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Americans are rushing to get ahead of rising mortgage rates

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U.S. Pending-Home Sales Rebound Despite Rise in Mortgage Rates

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Mortgage lender fined $3.5 million for kickback scheme

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“Nothing worth having comes easy”

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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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