Weekly Newsletter – 07-13-18

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Weekly News Update

 

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – July 12, 2018

Weekly Mortgage Applications – 07-11-2018

  • 30 Year Mortgage Rate increased to 4.53% compared to 4.52% last week. The 30 year rock bottom rate touched in last 10 years is 3.56%

  • 15 Year Mortgage Rate increased to 4.02% compared to 3.99% last last week. The 15 year rock bottom rate touched in last 10 years is 2.86%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.86% conpared to 3.74% last week. The 5 year rock bottom rate touched in last 10 years is 2.74%

  • Rates are still low. Purchase or Refinance before rates move up further

  • Mortgage applications increased by 2.5% for the week ended July 11, 2018

  • Mortgage apps move in the inverse direction of rates

  • Rates are still low, so get your fixed rate loans now. If already on a fixed  30 year rate, change to a 15 year fixed loan and cut your term!

  • Share your comments on our Facebook page!

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“When you are reaching your full potential, fear will stop showing up.”

– Anonymous

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CONVENTIONAL LOAN PROGRAM

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“We might all begin with fear. The difference is that the courageous take action in spite of fear.”

– Anonymous

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HOUSING AND ECONOMIC DATA

Home Price Index Northern California – 4th Quarter 2017

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  • Home Price index in US is at 385.79 with 6.3% increase from year ago in 4th Quarter of 2017

  • California HPI is at 626.9 with 8.2% increase from year ago in 4th Quarter of 2017

  • In North California, San Francisco MSA leads at 434.23, followed by San Jose MSA at 414.49, Santa Cruz MSA at 334.52, Napa MSA at 324.84, Santa Rosa  MSA at 316.74, Salinas MSA at 272.3,  vallejo MSA at 268.33, Sacramento MSA at 267.29, Modesto MSA at 239.3, Stockton MSA at 238.76, Fresno MSA at 225.07, Merced MSA at  219.31 and Bakersfield MSA at 205.7

  • Merced MSA had the highest increase from year ago at 10.9% and Bakersfield MSA had the lowest increase at 4.2%

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Economic Indicators – April 2018

Bay Area County Homes Sales Report – May 2018

  • Homeownership Rate for US is 63.9% in January 2017. US Leading Index is at 1.58% in April 2018 reflecting a 5.3% increase compared to last year and California Leading Index is at 1.86% in April 2018 reflecting a 11.0% decrease from year ago

  • Major Currencies decreased to 99.549 reflecting a 7.2% decrease from year ago. Gold Fixing Price increased to 1,334.740 reflecting 5.5% increase from year ago. Crude Oil prices increased to 71.66 Dollars in April 2018 reflecting a 36.7% increase from year ago. Federal Deficit was at  -3.43141% in April 2018 reflecting a 9.3% increase from year ago. Total Vehicles sales is 17.6 Million in April 2018 reflecting a 1.1% increase from year ago

  • Mortgage backed securities for all maturities is $1,752,499 Mn in April 2018 reflecting a 1.2% decrease from year ago

  • Average Bay Area county selling price for counties analysed was $1247622 in May 2018. San Mateo County led with the highest average selling price at $2163691, followed by Santa Clara County at $2158636, Alameda county at $1044753, Contra Costa  County at $799034, San Benito  County at $717129, Santa Cruz  County at $714380 and Monterey County at $656489

  • Total Average Days on Market in Bay Area counties analysed was 56 days. 74 for Monterey, 66 for San Benito County, 60 for Santa Cruz County, 56 for San Mateo County, 54 for Contra Costa, 53 for Alameda County and 44 for Santa Clara County

  • Bay Area counties analyzed had Listings Sold of 5387 in May 2018. Santa Clara County had the highest at 1521, followed by  Alameda County at 1389, Contra Costa  County at 1327, San Mateo County at 574, Monterey County at 246, Santa Cruz County at 222 and San Benito County at 67

  • Sales Price to List price in May 2018 is at 104.64%. Alameda County is at 108.87%, Santa Clara County at 107.89%, San Mateo County at 106.5%, Contra Costa County at 103.97%, Santa Cruz at 101.2%, San Benito County at 99.61% and Monterey County at 97.95%

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“We’ve said it so many times. One day I’ll do this. One day I’ll start that. Let today be that day.”

– Anonymous

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FHA LOAN PROGRAM

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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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VA LOAN PROGRAM

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JUMBO LOAN PROGRAM

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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

WEEKLY NEWS UPDATE!

Global stocks slump as US steps up trade war

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The Mercury News: “Immense growth” makes the Bay Area the world’s 19th-largest economy, if it were a nation.

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Trade deficits are ‘inevitable,’ says former Fed official

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SOME MORE NICHES

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No Loan Contingency

Present strong offers with pre underwritten approvals with no loan contingency. Final conditions include property appraising per contract and clear title.

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SCHEDULE A LOAN OFFICER PHONE CALL
FILL OUT THIS SHORT APPLICATION FORM NOW

    

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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