Weekly Newsletter – 10-26-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – October 25, 2018

Weekly Mortgage Applications – 10-24-2018

  • 30 Year Mortgage Rate increased to 4.86% compared to 4.85% last week. The 30 year rock bottom rate touched in last 10 years is 3.41%

  • 15 Year Mortgage Rate increased to 4.29% compared to 4.26% last last week. The 15 year rock bottom rate touched in last 10 years is 2.72%

  • 5/1 Adjustable Rate Mortgage Rate increased to 4.14% compared to 4.10% 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 increased by 4.9%  for the week ended October 24, 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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"If you look at people who only work for money, you'll realize that they don't have any"

– Daniel Ally

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CONVENTIONAL LOAN PROGRAM

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"If your plan is for 1 year, plant rice. If your plan is for 10 years, plant trees. If your plan is for 100 years, educate children."

– Confucius

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HOUSING AND ECONOMIC DATA

US Homes Prices Report – August 2018

 

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  • Median Sales Price of Existing Homes in US decreased to $265,600 with a 1.4% decrease from month ago

  • Median Sales Price in West decreased to $393,500 with a 0.0% decrease in August 2018 compared to last month

  • Midwest median sales price decreased to $206,300 with a 1.4% decrease compared to last month and South is at $227,900 reflecting a 2.1% decrease from month ago

  • Northeast median sales price has decreased to $304,500 reflecting a 1.4% decrease from month ago

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Housing Starts – August 2018

US Homes Report – August 2018

  • New privately owned housing unit starts increased to 258,000 units with 8.4% percent change from year ago,  in Q2 of 2018

  • Housing Starts:2-4 Units is at 17,000 units in August 2018 with a 112.5% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,268,000 units with a 8.2% increase in August 2018 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 879,000 units with a 0.1% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 372,000 units with a 30.1% increase from year ago

  • Northeast had the highest averages in Existing Home Sales at 8.6% increase and West had a 0% percent change in Existing Home Prices in August 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 1,910,000 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 30th of August is 4.52% for 30 yr, 3.97% for 15  yr, 3.85% for 5 yr and Mortgage Applications decreased by 1.7% for the week ending August 29, 2018

  • New privately owned housing units increased to 1,268,000 in August 2018 reflecting a 8.2% increase from year ago. New one family houses sold in US increased to 585,000 units with 4.8% increase from year ago and Mean Sales Price of Existing Homes decreased to $304,000 with 1.2% decrease from month ago

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"Money is not the only answer, but it makes a difference."

– Barrack Obama

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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 drop as spiking mortgage rates keep buyers on the sidelines

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Home Sales Are Dropping — Could The Housing Market Finally Be Cooling Off?

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Rising Mortgage Rates Impact Buying Power

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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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