Weekly Newsletter – 01-11-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – January 10, 2019

Weekly Mortgage Applications – 01-09-2019

  • 30 Year Mortgage Rate decreased to 4.45% compared to 4.51% last week. The 30 year rock bottom rate touched in last 10 years is 3.40%

  • 15 Year Mortgage Rate decreased to 3.89% compared to 3.99% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.83% compared to 3.98% last week. The 15 year rock bottom rate touched in last 10 years is 2.67%

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

  • Mortgage applications decreased by 23.5%  for the week ended January 09, 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!

  • Share your comments on our Facebook page!

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"You must spend money to make money"

– Titus Maccius Plautus

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CONVENTIONAL LOAN PROGRAM

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"Most great people have achieved their greatest success just one step beyond their greatest failure"

– Napoleon Hill

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HOUSING AND ECONOMIC DATA

US Homes Sales Report – October 2018

 

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  • Number of units of existing home sales for month of October 2018 is at 5,220,000 and is at a 1.4% increase compared to last month

  • West census region is at 1,110,000 number of units and is at a 2.8% increase for October 2018 compared to last month. Midwest  region for October 2018 is at 1,270,000 number of units, a 0.8% decrease compared to last month

  • South region for October 2018 is at 2,150,000 number of units and is at a 1.9% increase from month ago

  • Northeast region for October 2018 is at 61,000 number of units and is 7.0% higher than last month

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US Homes Prices Report – October 2018

Unemployment Rate and Initial Claims – October 2018

  • Median Sales Price of Existing Homes in US decreased to $255,100 with a 0.7% decrease from month ago

  • Median Sales Price in West decreased to $381,200 with a 1.3% decrease in September 2018 compared to last month

  • Midwest median sales price decreased to $196,800 with a 1.3% decrease compared to last month and South is at $221,500 reflecting a 0.9% decrease from month ago

  • Northeast median sales price has decreased to $280,800 reflecting a 1.9% decrease from month ago

  • Initial Claim in US is at 214,000 with a 8.8% decrease in October 2018 and Initial Claim in California is at 39,127 with a 6.9% decrease in October 2018

  • Unemployment rate in US is at 3.8% with a 7.3% decrease in October 2018 and Unemployment in California is at 4.1% with a 8.9% decrease in October 2018

  • Modesto MSA has the highest decrease of unemployment rate from year ago at 14.7% in October 2018

  • Los Angeles MSA has 2.4% change of unemployment rate from year ago with  in October 2018

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"Old ways won't open new doors"

– 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!

Plunge in rates sparks 23.5% spike in mortgage applications after unusually weak holidays

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Freddie Mac: Mortgage rates fall to lowest level in nine months

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Lennar chairman: Interest rate drop pushes homebuyers back into the market

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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:          info@shiningstarfunding.com

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