Weekly Newsletter – 11-30-18

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – November 29, 2018

Weekly Mortgage Applications – 11-28-2018

  • 30 Year Mortgage Rate is at 4.81% since last week. The 30 year rock bottom rate touched in last 10 years is 3.32%

  • 15 Year Mortgage Rate increased to 4.25% compared to 4.24% last last week. The 15 year rock bottom rate touched in last 10 years is 2.64%

  • 5/1 Adjustable Rate Mortgage Rate increased to 4.12% compared to 4.09% 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 increased by 5.5%  for the week ended November 28, 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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"Nothing happens without focus. Don't try to do everything at once. Take it one step at a time."

– Dave Ramsey

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CONVENTIONAL LOAN PROGRAM

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"Don't take financial advice from broke people. Do what rich people are doing."

– Anonymous

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HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – September 2018

 

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  • Average Bay Area county selling price for counties analysed was $946,183 in September 2018. Santa Clara County led with the highest average selling price at $1,925,581, followed by San Mateo County at $1,305,206, Alameda county at $812,104, Contra Costa  County at $684,580, Santa Cruz County at $646,410, Monterey County at $502,228 and  San Benito  County at $389,247

  • Total Average Days on Market in Bay Area counties analysed was 55 days. 97 for Monterey, 78 for San Benito  County, 63 for Santa Cruz County County,  52 for Contra Costa  County, 47 for Santa Clara County,  46 for Alameda County and 43 for San Mateo County

  • Bay Area counties analyzed had Listings Sold of 753 in September 2018. Alameda County had the highest at 195, Santa Clara County at 179, followed by Contra Costa  County at 170,   San Mateo County at 108, Santa Cruz County at 47, Monterey County at 35 and San Benito County at 17

  • Sales Price to List price in September 2018 is at 102.49%. San Mateo County is at 106.98%, Alameda County at 106.28%, Santa Clara County at 103.53%, Contra Costa County at 100.56%, Santa Cruz at 98.08%, Monterey County at 97.79% and San Benito County at 96.44%.

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US Homes Sales Report – September 2018

US Homes Prices Report – September 2018

  • Number of units of existing home sales for month of August 2018 is at 5,150,000 and is at a 3.4% decrease compared to last month

  • West census region is at 1,080,000 number of units and is at a 3.6% decrease for August 2018 compared to last month. Midwest  region for August 2018 is at 1,280,000 number of units, a 0.0% increase compared to last month

  • South region for August 2018 is at 2,110,000 number of units and is at a 5.4% decrease from month ago

  • Northeast region for August 2018 is at 57,000 number of units and is 25% higher than last month

  • Median Sales Price of Existing Homes in US decreased to $256,900 with a 3.3% decrease from month ago

  • Median Sales Price in West decreased to $386,300 with a 1.8% decrease in September 2018 compared to last month

  • Midwest median sales price decreased to $1996,300 with a 3.4% decrease compared to last month and South is at $223,500 reflecting a 1.9% decrease from month ago

  • Northeast median sales price has decreased to $286,200 reflecting a 6.0% decrease from month ago

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"Change starts with you, but it doesn't start until you do"

– Tom Ziglar

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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!

Weekly mortgage applications drop 3.2%, hit by tanking stocks and rising rates

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Mortgage applications drop as refi volume falls to an 18-year low

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Fannie, Freddie conforming loan limits increase in nearly every part of the U.S.

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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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