Weekly Newsletter – 02-03-17 – Shining Star Funding

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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– Anonymous

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% Share your comments on our Facebook page!	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% Share your comments on our Facebook page

– Anonymous

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


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

With inhouse underwriting and funding. Call me and let’s make it happen!

– John C. Maxwell

WEEKLY NEWS UPDATE!
Citigroup Says Goodbye to Mortgage Servicing
Americans are rushing to get ahead of rising mortgage rates
U.S. Pending-Home Sales Rebound Despite Rise in Mortgage Rates
Mortgage lender fined $3.5 million for kickback scheme

OTHER NICHE LOAN PROGRAMS
Product Loan And Niches	Niche Loan Programs

Conventional Loan FHA Loans 100% VA Loans Jumbo Loans	Zero Down Loan 2 VA Loans 1 Year Tax Verification Remove Mortgage Insurance