Weekly Newsletter – 07-20-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – July 19, 2018

Weekly Mortgage Applications – 07-18-2018

  • 30 Year Mortgage Rate decreased to 4.52% compared to 4.53% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%

  • 15 Year Mortgage Rate decreased to 4.00% compared to 4.02% last last week. The 15 year rock bottom rate touched in last 10 years is 2.83%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.87% conpared to 3.86% last week. The 5 year rock bottom rate touched in last 10 years is 2.69%

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

  • Mortgage applications decreased by 2.5% for the week ended July 18, 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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"Actions are what will make your dreams come to reality"

– Anonymous

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CONVENTIONAL LOAN PROGRAM

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"The law of attraction is always working. You are attracting people into your life that are in harmony with you"

– Bob Proctor

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HOUSING AND ECONOMIC DATA

Fannie Mae Housing Survey – May 2018

 

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  • Average Home Price Change Expectation in next 12 months is 3.5% and the Average 12 Month Rental Price Change Expectation is 4.6%

  • Home Prices will go up in the next 12 months based on 55% responses. Home Rental Prices will go up in the next 12 months based on 61% responses. Mortgage rates will go up in next 12 months based on 54% responses

  • 59% of respondents say it is a good time to buy and 67% says it is a good time to sell. 56% says it is easy to get a mortgage today, 67% would rather buy than rent and 50% says that the economy is on the right track

  • There are 11% of respondents who are concerned about losing their job over next 12 months. 30% of respondents says that their income will be higher and 48% say their financial situation will get better over the next 12 months

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US Homes Sales Report – May 2018

US Homes Prices Report – May 2018

  • Number of units of existing home sales for month of April 2018 is at 5,430,000 and is at a 0.4% decrease compared to last month

  • West census region is at 1,170,000 number of units and is at a 0.8% decrease for April 2018 compared to last month. Midwest  region for April 2018 is at 1,260,000 number of units, a 2.3% decrease change compared to last month

  • South region for April 2018 is at 2,320,000 number of units and is at a 0.4% decrease from month ago

  • Northeast region for April 2018 is at 64,000 number of units and is 23.1% higher than last month

  • Median Sales Price of Existing Homes in US decreased to $264,800 with a 2.7% increase from month ago

  • Median Sales Price in West increased to $395,800 with a 1.5% increase in April 2018 compared to last month

  • Midwest median sales price decreased to $209,900 with a 5.2% increase compared to last month and South is at $233,100 reflecting a 2.7% increase from month ago

  • Northeast median sales price has increased to $275,900 reflecting a 0.3% increase from month ago

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"The thoughts we think are responsible for the results we are getting"

– Bob Proctor

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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!

Fed Says Economic Growth Holding Up Even as Trade Concerns Spread

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The Fed now has to raise rates to prove it’s independent from Trump, investment manager says

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Worker shortages, rising costs hemming in a U.S. economy bursting at the seams, Fed’s Beige Book finds

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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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