Weekly Newsletter – 08-24-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – August 23, 2018

Weekly Mortgage Applications – 08-22-2018

  • 30 Year Mortgage Rate decreased to 4.51% compared to 4.53% last week. The 30 year rock bottom rate touched in last 10 years is 3.66%

  • 15 Year Mortgage Rate decreased to 3.98% compared to 4.01% last last week. The 15 year rock bottom rate touched in last 10 years is 2.95%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.82% conpared to 3.87% last week. The 5 year rock bottom rate touched in last 10 years is 2.77%

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

  • Mortgage applications increased by 4.2% for the week ended August 22, 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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"When people respect you as a person, they admire you. When they respect you as a friend they love you. When they respect you as a leader, they follow you."

– John C Maxwell

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CONVENTIONAL LOAN PROGRAM

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"Great leaders create more leaders, not followers."

– Roy T. Bennet

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HOUSING AND ECONOMIC DATA

Unemployment Rate and Initial Claims – June 2018

 

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  • Initial Claim in US is at 224,200 with a 7.8% decrease in June 2018 and Initial Claim in California is at 40,898 with a 0.7% decrease in June 2018

  • Unemployment rate in US is at 4% with a 7% decrease in June 2018 and Unemployment in California is at 4.2% with a 12.5% decrease in June 2018

  • San Luis Obispo MSA has the highest decrease of unemployment rate from year ago at 16.7% in June 2018

  • Los Angeles MSA has the least decrease of unemployment rate from year ago with 2.3% change in June 2018

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Housing Starts – June 2018

US Homes Report – June 2018

  • 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 3,000 units in June 2018 with a 83.3% increase from year ago. Housing Starts Total: New Privately Owned housing units starts decreased to 1,173,000 units with a 4.2% decrease in June 2018 from year ago

  • Privately Owned Housing Starts 1 Unit Structures decreased to 858,000 units with a 0.2% decrease from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 304,000 units with a 15.3% decrease from year ago

  • Northeast had the highest averages in Existing Home Sales at 15.4% increase and South had a 7.2% percent increase in Existing Home Prices in June 2018

  • Existing home sales Months Supply was at 4.3 months supply reflecting 4.9% increase from  month ago. Existing home sales Housing inventory increased to 1,950,000 units reflecting a 4.3% 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 28th of June is 4.55% for 30 yr, 4.04% for 15  yr, 3.87% for 5 yr and Mortgage Applications decreased by 4.9% for the week ending June 27, 2018

  • New privately owned housing units increased to 1,158,000 in June 2018 reflecting a 5.5% decrease from year ago. New one family houses sold in US increased to 631,000 units with 2.4% increase from year ago and Mean Sales Price of Existing Homes increased to $314,900 with 3.7% increase from month ago

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"Please think about your legacy, because you're writing it every day."

– Gary Vaynerchuck

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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!

The housing recovery isn't over, it just feels like it is

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Steady interest rates bring mortgage volume back to life

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Gold Rises on Soft U.S. Dollar, Political Woes

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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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