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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch - December 06, 2018

Weekly Mortgage Applications - 12-05-2018

  • 30 Year Mortgage Rate decrease to 4.75% compared to 4.81 last week. The 30 year rock bottom rate touched in last 10 years is 3.34%

  • 15 Year Mortgage Rate decreased to 4.21% compared to 4.25% last last week. The 15 year rock bottom rate touched in last 10 years is 2.67%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 4.07% compared to 4.12% last week. The 5 year rock bottom rate touched in last 10 years is 2.69%

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

  • Mortgage applications increased by 2.0%  for the week ended December 05, 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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"Make money work for you - it does not sleep, get tired, or go on vacation"

- Anonymous

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CONVENTIONAL LOAN PROGRAM

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"If you don't take risks, you will always work for someone who does."

- Anonymous

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HOUSING AND ECONOMIC DATA

Housing Starts - September 2018

 

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  • 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 6,000 units in September 2018 with a 64.7% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,210,000 units with a 4.5% increase in September 2018 from year ago

  • Privately Owned Housing Starts 1 Unit Structures increased to 881,000 units with a 6.0% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 323,000 units with a 4.2% increase from year ago

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US Homes Report - September 2018

Unemployment Rate and Initial Claims - September 2018

  • Northeast had the least averages in Existing Home Sales at 25% decrease and had a 6% decrease in Existing Home Prices in September 2018

  • Existing home sales Months Supply was at 4.4 months supply reflecting 2.3% increase from  month ago. Existing home sales Housing inventory decreased to 1,880,000 units reflecting a 1.6% decrease from month ago

  • SFR Delinquency Rate this 2nd Quarter of 2018 is at 3.24% reflecting a 12.4% decrease from year ago, Mortgage Rate Reading for 27th of September is 4.72% for 30 yr, 4.16% for 15  yr, 3.97% for 5 yr and Mortgage Applications decreased by 2.9% for the week ending September 26, 2018

  • New privately owned housing units increased to 1,210,000 in September 2018 reflecting a 4.5% increase from year ago. New one family houses sold in US decreased to 597,000 units with 6.3% decrease from year ago and Mean Sales Price of Existing Homes decreased to $296,000 with 2.6% decrease from month ago

  • Initial Claim in US is at 206,600 with a 22.2% decrease in September 2018 and Initial Claim in California is at 33,589 with a 9.1% decrease in September 2018

  • Unemployment rate in US is at 3.7% with a 11.9% decrease in September 2018 and Unemployment in California is at 4.1% with a 8.9% decrease in September 2018

  • San Jose MSA has the highest decrease of unemployment rate from year ago at 19.4% in September 2018

  • Los Angeles MSA has the least decrease of unemployment rate from year ago with 0% change in September 2018

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"Financial resources may be the lifeblood of a company, but Human Resources are the brains."

- Rob Silzer and Ben Dowell

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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 rise 5.5% as homebuyers edge back in

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Redfin: Luxury home market takes a breather

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10 most tax-friendly states for retirees

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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

 

    

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About Shining Star Funding

Telephone: 925 820 2981

Toll Free:     866 280 0020

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