Weekly Newsletter – 09-14-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – September 13, 2018

Weekly Mortgage Applications – 09-12-2018

  • 30 Year Mortgage Rate increased to 4.60% compared to 4.54% last week. The 30 year rock bottom rate touched in last 10 years is 3.55%

  • 15 Year Mortgage Rate increased to 4.06% compared to 3.99% last last week. The 15 year rock bottom rate touched in last 10 years is 2.85%

  • 5/1 Adjustable Rate Mortgage Rate is at 3.85% last week. The 5 year rock bottom rate touched in last 10 years is 2.72%

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

  • Mortgage applications decreased by 1.8% for the week ended September 12, 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!

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"We all need people who will give us feddback. That's how we improve"

– Bill Gates

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CONVENTIONAL LOAN PROGRAM

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"Sometimes, you ist have to play the role of a fool to fool the fool who thinks they are fooling you"

– Anonymous

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HOUSING AND ECONOMIC DATA

Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – June 2018

 

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  • Mortgage origination Conventional loans forecast for 1st quarter of 2017 is $292 Bn and will increase to $389 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $298 Bn and will increase to $308 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $332 Bn and will decrease to $329 Bn in last quarter of 2019

  • Mortgage origination for FHA and VA decreased to $90 Bn in 1st quarter of 2018. Forecast for 2nd quarter of 2018 is $111 Bn and last quarter of 2018 is $92 Bn. Forecast for 1st quarter of 2019 is $99 Bn and last quarter of 2018 is $95 Bn

  • Mortgage origination Total forecast for 1st quarter of 2017 is $399 Bn and will increase to $492 Bn in last quarter of 2017. Forecast for 1st quarter of 2018 is $388 Bn and will increase to $400 Bn in last quarter of 2018. Forecast for 1st quarter of 2018 is $432 Bn and will increase to $425 Bn in last quarter of 2018

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

Bay Area County Homes Sales Report – July 2018

  • Refinancing Share Origination forecast for 1st quarter of 2017 is at 43% and will be 41% 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 2.0% in 1st quarter of 2018.Forecast for 2nd quarter of 2018 will be 4.6% 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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  • Average Bay Area county selling price for counties analysed was $1,203,792 in July 2018. Santa Clara County led with the highest average selling price at $2,075,168, followed by San Mateo County at $1,907,123, Alameda county at $956,747, Contra Costa  County at $806,600, Monterey County at $799,483, Santa Cruz County at $789,126 and  San Benito  County at $710,583

  • Total Average Days on Market in Bay Area counties analysed was 59 days. 108 for San Benito County County, 89 for Monterey, 57 for Contra Costa, 53 for Santa Cruz  County, 52 for Santa Clara County, 48 for San Mateo County and 45 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 4,956 in July 2018. Alameda County had the highest at 1,386, followed by Contra Costa  County at 1,283, Santa Clara County at 1,277,  San Mateo County at 496, Monterey County at 231, Santa Cruz County at 219 and San Benito County at 52

  • Sales Price to List price in July 2018 is at 102.68%. Alameda County is at 106.76%, San Mateo County at 105.73%, Santa Clara County at 104.06%, Contra Costa County at 101.43%, Santa Cruz at 99.58%, San Benito County at 99.4% and Monterey County at 97.39%

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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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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!

Mixed mortgage news: Refis fall to four-year low, but purchases climb sharply

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This is the No. 1 source of financial stress in California—and it's not debt or the high cost of housing

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Survey says: Housing market competition finally thinning out

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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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