Weekly Newsletter – 08-31-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – August 30, 2018

Weekly Mortgage Applications – 08-29-2018

  • 30 Year Mortgage Rate increased to 4.52% compared to 4.51% last week. The 30 year rock bottom rate touched in last 10 years is 3.59%

  • 15 Year Mortgage Rate decreased to 3.97% compared to 3.98% 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 3.85% conpared to 3.82% last week. The 5 year rock bottom rate touched in last 10 years is 2.78%

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

  • Mortgage applications decreased by 1.7% for the week ended August 29, 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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"If you want to invest in something with minimum risk and a guaranteed big return, invest in yourself."

– Anonymous

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CONVENTIONAL LOAN PROGRAM

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"Rich people believe, I create my life. Poor people believe, Life happens to me"

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – June 2018

 

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  • 30 year Fixed Mortgage Actual Rate is 4.3% in 1st quarter of 2018. Forecast for 2nd quarter of 2018 is 4.6% and will increase to 4.9% in 4th quarter of 2018. Forecast for 1st quarter of 2019 is 4.9% and will increase to 5.4% in 4th quarter of 2019

  • 10 year Const. Mat. Treas Actual Rate increased to 2.8% in 1st quarter of 2018. Forecast for 2nd quarter of 2018 is 2.9% and will increase to 3.1% in last quarter of 2018. Forecast for 1st quarter of 2019 is 3.3% and will increase to 3.7% in last quarter of 2019

  • 5/1 year Hybrid Treasury Indexed ARM Actual Rate is 3.6% in 1st quarter of 2018. Forecast for 2nd quarter of 2018 is 4.0% and will increase to 4.4% in last quarter of 2018. Forecast for 1st quarter of 2019 is 4.4% and will increase to 4.9% in last quarter of 2019

  • Share your comments on our Facebook page

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Payroll and Unemployment – June 2018

Economic Indicators – June 2018

  • Industrial Production Index has increased to 107.8778 in June 2018 reflecting a 4.0% increase from year ago. All Employees Total Non-farm  has increased to 148,971 (in thousands) in June 2018 reflecting a 1.7% increase from year ago

  • Average Initial Claims in United States decreased to 224,200 in June 2018 reflecting a 7.8% decrease from year ago. The Average Initial Claims in California decreased to 40,898 in June 2018 reflecting a 0.7% decrease from year ago

  • San Luis Obispo in California had the highest drop in Unemployment Rate in June 2018 with 16.7% decrease from year ago. 10 Year Break even Inflation rate increased to 2.12% with 22.5% increase from year ago. The average hourly earning of all employees has increased to 26.98 dollars per hour with 2.7% increase in June 2018

  • Personal consumption expenditures has increased to $13,937.1 Bn in June 2018 with a 5.1% increase from year ago and Personal savings rate increased to 6.8% in June 2018 reflecting a 3.0% increase  from year ago

  • Homeownership Rate for US is 63.9% in January 2017. US Leading Index is at 1.42% in June 2018 reflecting a 1.4% decrease compared to last year and California Leading Index is at 0.64% in June 2018 reflecting a 73.4% decrease from year ago

  • Major Currencies decreased to 103.484 reflecting a 1.3% decrease from year ago. Gold Fixing Price increased to 1,281.567 reflecting 1.7% increase from year ago. Crude Oil prices increased to 74.59 Dollars in June 2018 reflecting a 59.1% increase from year ago. Federal Deficit was at  -3.41472% in June 2018 reflecting a 9.3% increase from year ago. Total Vehicles sales is 17.7 Million in June 2018 reflecting a 2.9% increase from year ago

  • Mortgage backed securities for all maturities is $1,742,845 Mn in May 2018 reflecting a 1.7% decrease from year ago

  • Real Gross Domestic Product increased 18,507.200 Bn reflecting 2.8% change from year ago. Federal Debt Total Public Debt as Percentage of GDP increased 105.23224 reflecting 1.6% change from year ago

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"The most successful people in life are the ones who as questions. They're always learning. They're always growing. They're always pushing"

– Robert Kiyosaki

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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!

New home sales fall to 9-month low

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U.S. existing home sales fall for fourth straight month

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New estimate raises second quarter economic growth to 4.2%

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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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