Weekly Newsletter – 10-19-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – October 18, 2018

Weekly Mortgage Applications – 10-17-2018

  • 30 Year Mortgage Rate decreased to 4.85% compared to 4.90% last week. The 30 year rock bottom rate touched in last 10 years is 3.37%

  • 15 Year Mortgage Rate decreased to 4.26% compared to 4.29% last last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

  • 5/1 Adjustable Rate Mortgage Rate increased to 4.10% compared to 4.07% last week. The 5 year rock bottom rate touched in last 10 years is 2.75%

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

  • Mortgage applications decreased by 7.1%  for the week ended October 17, 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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"Just because you can make the payments, doesn't mean you can afford it."

– Anonymous

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CONVENTIONAL LOAN PROGRAM

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"You don't have to follow the rules if you refuse to play the game."

– Anonymous

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HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – August 2018

 

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  • Average Bay Area county selling price for counties analysed was $1,176,793 in August 2018. Santa Clara County led with the highest average selling price at $2,045,979, followed by San Mateo County at $1862221, Alameda county at $969,037, Contra Costa  County at $835,536, Santa Cruz County at $824,638, Monterey County at $642,460 and  San Benito  County at $640,526

  • Total Average Days on Market in Bay Area counties analysed was 61 days. 90 for Monterey, 63 for Santa Cruz  County, 62 for San Benito County County,  60 for San Mateo County, 56 for Contra Costa,  53 for Alameda County and 49 for Santa Clara County

  • Bay Area counties analyzed had Listings Sold of 4,876 in August 2018. Alameda County had the highest at 1,332, Santa Clara County at 1,300, followed by Contra Costa  County at 1,231,   San Mateo County at 480, Monterey County at 258, Santa Cruz County at 222 and San Benito County at 44

  • Sales Price to List price in August 2018 is at 102.22%. Alameda County is at 105.43%, San Mateo County at 104.27%, Santa Clara County at 104.14%, Contra Costa County at 100.98%, San Benito County at 99.5%, Santa Cruz at 99.42% and Monterey County at 98.23%

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Fannie Mae Housing Survey – August 2018

US Homes Sales Report – August 2018

  • Average Home Price Change Expectation in next 12 months is 2.8% and the Average 12 Month Rental Price Change Expectation is 4.4%

  • Home Prices will go up in the next 12 months based on 48% responses. Home Rental Prices will go up in the next 12 months based on 59% responses. Mortgage rates will go up in next 12 months based on 58% responses

  • 57% of respondents say it is a good time to buy and 37% says it is a bad time to buy. 58% says it is easy to get a mortgage today, 67% would rather buy than rent and 51% says that the economy is on the right track

  • There are 10% of respondents who are concerned about losing their job over next 12 months. 31% of respondents says that their income will be higher and 53% say their financial situation will get better over the next 12 months

  • Number of units of existing home sales for month of August 2018 is at 5,330,000 and is at a 0.2% decrease compared to last month

  • West census region is at 1,120,000 number of units and is at a 5.9% decrease for August 2018 compared to last month. Midwest  region for August 2018 is at 1,280,000 number of units, a 2.4% increase compared to last month

  • South region for August 2018 is at 2,230,000 number of units and is at a 0.4% decrease from month ago

  • Northeast region for August 2018 is at 76,000 number of units and is 8.6% higher than last month

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"You don't become what you want, you become what you believe"

– Oprah Winfrey

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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 U.S. Is Ranked the World's Most Competitive Economy for First Time Since 2008

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U.S. job openings hit a record 7.1 million, exceed number of unemployed Americans

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Weekly mortgage applications tank 7.1% as interest rates surge to a near 8-year high

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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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