Weekly Newsletter – 11-09-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – November 08, 2018

Weekly Mortgage Applications – 11-07-2018

  • 30 Year Mortgage Rate increased to 4.94% compared to 4.83% last week. The 30 year rock bottom rate touched in last 10 years is 3.40%

  • 15 Year Mortgage Rate increased to 4.33% compared to 4.23% last last week. The 15 year rock bottom rate touched in last 10 years is 2.69%

  • 5/1 Adjustable Rate Mortgage Rate increased to 4.14% compared to 4.04% last week. The 5 year rock bottom rate touched in last 10 years is 2.73%

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

  • Mortgage applications decreased by 4.0%  for the week ended November 07, 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!

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"I believe that through knowledge and discilpline, financial peace is possible for all of us"

– Dave Ramsey

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CONVENTIONAL LOAN PROGRAM

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"The financial goal that wealthy-minded persons pursue is freedom not riches!"

– Anonymous

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HOUSING AND ECONOMIC DATA

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

 

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  • Mortgage origination Conventional loans actual for 4th quarter of 2017 is $373 Bn. Forecast for 1st quarter of 2018 is $284 Bn and  $283 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $316 Bn and will decrease to $314 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 $109 Bn and last quarter of 2018 is $89 Bn. Forecast for 1st quarter of 2019 is $99 Bn and last quarter of 2018 is $95 Bn

  • Mortgage origination Total actual for 4th quarter of 2017 is $477 Bn. Forecast for 1st quarter of 2018 is $374 Bn and will increase to $372 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $415 Bn and will taper to $409 Bn in last quarter of 2019

  • Share your comments on our Facebook page!

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

Unemployment Rate and Initial Claims – August 2018

  • Refinancing Share Origination Actual for 1st quarter of 2017 is at 44% and at 41% in the last quarter of 2017. Forecast for 2018 will be 40% in the 1st quarter and 24% 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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  • Initial Claim in US is at 212,250 with a 10.9% decrease in August 2018 and Initial Claim in California is at 36,834 with a 3.9% decrease in August 2018

  • Unemployment rate in US is at 3.9% with a 11.4% decrease in August 2018 and Unemployment in California is at 4.2% with a 8.7% decrease in August 2018

  • Santa Rosa MSA has the highest decrease of unemployment rate from year ago at 24.2% in August 2018

  • Los Angeles MSA has the least decrease of unemployment rate from year ago with 4.5% change in August 2018

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"Every time you borrow money, you're robbing your future self"

– Nathan W. Morrisein

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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!

Post-Election Economic Forecast: Political Gridlock Will Be Good For Business

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Mortgage applications fall to 4-year low as homebuyers exit housing market

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Regulation won't add affordable housing to the market: mortgage execs

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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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