Weekly Newsletter – 01-04-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – January 03, 2019

Weekly Mortgage Applications – 01-03-2019

  • 30 Year Mortgage Rate decreased to 4.51% compared to 4.55% last week. The 30 year rock bottom rate touched in last 10 years is 3.34%

  • 15 Year Mortgage Rate decreased to 3.99% compared to 4.01% last week. The 15 year rock bottom rate touched in last 10 years is 2.64%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.98% compared to 4.00% last week. The 15 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 decreased by 8.5%  for the week ended January 03, 2019

  • 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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"Challenge yourself everyday to do better and be better. Remember, growth starts with a decision to move beyond your present circumstances."

– Robert Tew

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CONVENTIONAL LOAN PROGRAM

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"The key to success is to keep growing in all areas of life – mental, emotional, spiritual, as well as physical"

– Julius Erving

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HOUSING AND ECONOMIC DATA

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

 

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  • 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 23% in the last quarter. Forecast for 2019 will be 30% 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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Bay Area County Homes Sales Report – October 2018

Housing Starts – October 2018

  • Average Bay Area county selling price for counties analysed was $1,207,110 in October 2018. Santa Clara County led with the highest average selling price at $1,999,822, followed by San Mateo County at $1,958,343, Santa Cruz  county at $1,230,932, Alameda County at $837,322, Contra Costa  County at $795,289, San Benito  County at $701,031 and  Monterey County at $684,434

  • Total Average Days on Market in Bay Area counties analysed was 67 days. 101 for San Benito  County, 79 for Monterey County, 75 for Santa Cruz County County,  68 for San Mateo County, 67 for Santa Clara County,  57 for Contra Costa  County and Alameda County

  • Bay Area counties analyzed had Listings Sold of 3,959 in October 2018. Alameda County had the highest at 1,101, Santa Clara County at 1,023, followed by Contra Costa  County at 1,003,   San Mateo County at 411, Monterey County at 205, Santa Cruz  County County at 160 and San Benito County at 50

  • Rates are still low. Purchase or Refinance before rates move up further .Sales Price to List price in October 2018 is at 100.06%. Alameda County is at 102.93%, San Mateo County at 101.28%, Contra Costa  County at 100.68%, Santa Clara County at 99.56%, Santa Cruz  County at 98.13%, Monterey County at 96.81% and San Benito County at 95.96%.

  • New privately owned housing unit starts increased to 257,000 units with 8.0% percent change from year ago,  in Q2 of 2018

  • Housing Starts:2-4 Units is at 19,000 units in October 2018 with a 5.6% increase from year ago. Housing Starts Total: New Privately Owned housing units starts decreased to 1,217,000 units with a 3.8% decrease in October 2018 from year ago

  • Privately Owned Housing Starts 1 Unit Structures decreased to 864,000 units with a 2.7% decrease from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More decreased to 334,000 units with a 7.0% decrease from year ago

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"Every accomplishment starts with the decision to try"

– 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!

Mortgage rates hit a 4-month low, so what’s holding back the housing market?

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The U.S. Economy in 2019: Challenges And Lower Expectations

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U.S. Luxury Home Sales to Slow in 2019

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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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