Weekly Newsletter – 09-28-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – September 27, 2018

Weekly Mortgage Applications – 09-26-2018

  • 30 Year Mortgage Rate increased to 4.72% compared to 4.65% last week. The 30 year rock bottom rate touched in last 10 years is 3.4%

  • 15 Year Mortgage Rate increased to 4.16% compared to 4.11% last last week. The 15 year rock bottom rate touched in last 10 years is 2.73%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.97% compared to 3.92% last week. The 5 year rock bottom rate touched in last 10 years is 2.71%

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

  • Mortgage applications increased by 2.9% for the week ended September 26, 2018

  • Mortgage apps generally 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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"What consumes your mind, controls your life"

– Anonymous

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CONVENTIONAL LOAN PROGRAM

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"You are free to make whatever choice you want, but you are not free from the consequences of the choice"

– Anonymous

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HOUSING AND ECONOMIC DATA

US Homes Report – July 2018

 

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  • West had the highest averages in Existing Home Sales at 4.4% increase and Northeast had a 1.0% percent increase in Existing Home Prices in July 2018

  • Existing home sales Months Supply was at 4.3 months supply reflecting 0.0% increase from  month ago. Existing home sales Housing inventory decreased to 1,920,000 units reflecting a 0.5% decrease from month ago

  • SFR Delinquency Rate this 2nd Quarter of 2018 is at 3.25% reflecting a 12.4% decrease from year ago, Mortgage Rate Reading for 26th of July is 4.54% for 30 yr, 4.02% for 15  yr, 3.87% for 5 yr and Mortgage Applications decreased by 0.2% for the week ending July 25, 2018

  • New privately owned housing units decreased to 1,168,000 in July 2018 reflecting a 1.4% decrease from year ago. New one family houses sold in US increased to 627,000 units with 12.8% increase from year ago and Mean Sales Price of Existing Homes decreased to $307,800 with 1.3% decrease from month ago

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Unemployment Rate and Initial Claims – July 2018

Payroll and Unemployment – July 2018

  • Initial Claim in US is at 214,750 with a 11.9% decrease in July 2018 and Initial Claim in California is at 38,153 with a 11.6% decrease in July 2018

  • Unemployment rate in US is at 3.9% with a 9.3% decrease in July 2018 and Unemployment in California is at 4.2% with a 10.6% decrease in July 2018

  • San Francisco MSA has the highest decrease of unemployment rate from year ago at 24.3% in July 2018

  • Visalia MSA has the least decrease of unemployment rate from year ago with 8.7% change in July 2018

  • Industrial Production Index has increased to 107.7875 in July 2018 reflecting a 4.0% increase from year ago. All Employees Total Non-farm  has increased to 149,078 (in thousands) in July 2018 reflecting a 1.6% increase from year ago

  • Average Initial Claims in United States decreased to 214,750 in July 2018 reflecting a 11.9% decrease from year ago. The Average Initial Claims in California decreased to 38,153 in July 2018 reflecting a 11.6% decrease from year ago

  • San Francisco in California had the highest drop in Unemployment Rate in July 2018 with 24.3% decrease from year ago. 10 Year Break even Inflation rate increased to 2.11% with 19.3% increase from year ago. The average hourly earning of all employees has increased to 27.06 dollars per hour with 2.7% increase in July 2018

  • Personal consumption expenditures has increased to $13,980.0 Bn in July 2018 with a 5.2% increase from year ago and Personal savings rate stayed at 6.7% in July 2018 reflecting a 0.0% increase from year ago

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"Count your blessings, not your problems"

– 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!

Home Prices Are Decelerating But Not Falling

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How the Fed's interest rate hikes impact consumers

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Outlook for Affordability in 2019 amid Rising Rates, According to First American Real House Price Index

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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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