Weekly Newsletter – 07-27-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – July 26, 2018

Weekly Mortgage Applications – 07-25-2018

  • 30 Year Mortgage Rate increased to 4.54% compared to 4.53% last week. The 30 year rock bottom rate touched in last 10 years is 3.49%

  • 15 Year Mortgage Rate is at 4.02% since last last week. The 15 year rock bottom rate touched in last 10 years is 2.80%

  • 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 2.74%

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

  • Mortgage applications decreased by 0.2% for the week ended July 25, 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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"Success doesn't come from wha you do occationally, it comes from what you do consistently"

– Marie Forleo

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CONVENTIONAL LOAN PROGRAM

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"Everything you want is out there waiting for you to ask. Everything you want also wants you. But you have to take action to get it"

– Jules Renard

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HOUSING AND ECONOMIC DATA

Housing Starts – May 2018

 

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  • New privately owned housing unit starts increased to 195,000 units with 7.7% percent change from year ago,  in Q1 of 2018

  • Housing Starts:2-4 Units is at 12,000 units in May 2018 with a 14.3 decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,337,000 units with a 19.2% increase in May 2018 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 944,000 units with a 19.3% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 381,000 units with a 20.2% increase from year ago

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US Homes Report – May 2018

Unemployment Rate and Initial Claims – May 2018

  • Northeast had the highest averages in Existing Home Sales at 23.1% increase and midwest had a 5.2% percent increase in Existing Home Prices in May 2018

  • Existing home sales Months Supply was at 4.1 months supply reflecting 2.5% increase from  month ago. Existing home sales Housing inventory increased to 1,850,000 units reflecting a 2.8% increase from month ago

  • SFR Delinquency Rate this 1st Quarter of 2018 is at 3.49% reflecting a 10.7% decrease from year ago, Mortgage Rate Reading for 31st of April is 4.56% for 30 yr, 4.06% for 15  yr, 3.80% for 5 yr and Mortgage Applications decreased by 2.9% for the week ending May 30, 2018

  • New privately owned housing units increased to 1,337,000 in May 2018 reflecting a 19.2% increase from year ago. New one family houses sold in US increased to 689,000 units with 14.1% increase from year ago and Mean Sales Price of Existing Homes increased to $303,500 with 1.9% increase from month ago

  • Initial Claim in US is at 222,750 with a 7.7% decrease in May 2018 and Initial Claim in California is at 39,384 with a 2.5% decrease in May 2018

  • Unemployment rate in US is at 3.2% with a 11.6% decrease in May 2018 and Unemployment in California is at 4.2% with a 14.3% decrease in May 2018

  • San Jose MSA has the highest decrease of unemployment rate from year ago at 23.5% in May 2018

  • Visalia MSA has the least decrease of unemployment rate from year ago with 9.4% change in May 2018

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"Never spend your money before you have it."

– Thomas Jefferson

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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!

Weekly mortgage applications fall again as affordability problems persist

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U.S. new home sales at eight-month low, housing slowing

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California gains just 800 jobs in June; unemployment remains at record low

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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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