Weekly Newsletter – 08-17-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – August 16, 2018

Weekly Mortgage Applications – 08-15-2018

  • 30 Year Mortgage Rate decreased to 4.53% compared to 4.59% last week. The 30 year rock bottom rate touched in last 10 years is 3.62%

  • 15 Year Mortgage Rate decreased to 4.01% compared to 4.05% last last week. The 15 year rock bottom rate touched in last 10 years is 2.88%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.87% conpared to 3.90% last week. The 5 year rock bottom rate touched in last 10 years is 2.76%

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

  • Mortgage applications decreased by 2.0% for the week ended August 15, 2018

  • Mortgage apps move in the inverse direction of rates

  • Rate are still low. 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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"Don't be afraid to give up the good to go for the great"

– John D. Rockefeller

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CONVENTIONAL LOAN PROGRAM

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"The biggest risk is not taking risk"

– Mark Zuckerberg

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HOUSING AND ECONOMIC DATA

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – May 2018

 

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  • Refinancing Share Origination forecast for 1st quarter of 2017 is at 46% and will be 39% by the last quarter of 2017. Forecast for 2018 will be 40% in the 1st quarter and 23% in the last quarter. Forecast for 2019 will be 24% in the 1st quarter and 24% in the last quarter

  • Change in Residential Mortgage Debt is 4.0% in 4th quarter of 2017.Forecast for 2018 will be 4.4% and will increase to 4.9% in the last quarter. Forecast for 2019 will be 5.0% and will increase to 5.5% in the last quarter

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Bay Area County Homes Sales Report – June 2018

US Homes Sales Report – June 2018

  • Average Bay Area county selling price for counties analysed was $1199765 in June 2018. Santa Clara County led with the highest average selling price at $2159459, followed by San Mateo County at $1928911, Alameda county at $948139, Santa Cruz  County at $879265, Contra Costa  County at $796755, San Benito  County at $707053 and Monterey County at $647359

  • Total Average Days on Market in Bay Area counties analysed was 55 days. 85 for Monterey, 60 for Santa Cruz  County, 58 for San Benito County County, 53 for San Mateo County, 49 for Contra Costa, 47 for Santa Clara County and 44 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 5367 in June 2018. Alameda County had the highest at 1509, followed by  Santa Clara County at 1441, Contra Costa  County at 1322, San Mateo County at 549, Monterey County at 268, Santa Cruz County at 208 and San Benito County at 51

  • Sales Price to List price in June 2018 is at 103.51%. Alameda County is at 107.51%, San Mateo County at 105.91%, Santa Clara County at 106.5%, Contra Costa County at 102.85%, Santa Cruz at 100.53%, San Benito County at 99.61% and Monterey County at 98.1%

  • Number of units of existing home sales for month of June 2018 is at 5,380,000 and is at a 0.6% decrease compared to last month

  • West census region is at 1,140,000 number of units and is at a 2.6% decrease for June 2018 compared to last month. Midwest  region for June 2018 is at 1,270,000 number of units, a 0.8% increase compared to last month

  • South region for June 2018 is at 2,3250,000 number of units and is at a 2.2% decrease from month ago

  • Northeast region for June 2018 is at 75,000 number of units and is 15.4% higher than last month

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"The bottom line in leadership isn't how far we advance ourselves but how far we advance others."

– John C. Maxwell

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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!

Buyers in expensive neighborhoods find more homes for sale

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New home sales drop to 8-month low in June

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U.S. Economy Added 157,000 Jobs In July; Unemployment Dips To 3.9 Percent

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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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