Weekly Newsletter – 02-01-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch - January 31, 2019

Weekly Mortgage Applications - 01-30-2019

  • 30 Year Mortgage Rate stood at 4.45% same as last week. The 30 year rock bottom rate touched in last 10 years is 3.53%

  • 15 Year Mortgage Rate increased to 3.89% compared to 3.88% last week. The 15 year rock bottom rate touched in last 10 years is 2.81%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.96% compared to 3.90% last week. The 15 year rock bottom rate touched in last 10 years is 2.70%

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

  • Mortgage applications decreased by 3.0%  for the week ended January 30, 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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"Create the life you can't wait to wake up to."

- Josie Spinardi

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CONVENTIONAL LOAN PROGRAM

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"Being a successful person is not necessarily defined by what you have achieved, but by what you have overcome"

- Fannie Flagg

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HOUSING AND ECONOMIC DATA

US Homes Report - October 2018

 

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  • Northeast had the highest averages in Existing Home Sales at 7.0% increase and had a 1.9% decrease in Existing Home Prices in October 2018

  • Existing home sales Months Supply was at 4.3 months supply reflecting 2.3% decrease from  month ago. Existing home sales Housing inventory decreased to 1,850,000 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 25th of October is 4.86% for 30 yr, 4.29% for 15  yr, 4.14% for 5 yr and Mortgage Applications decreased by 2.5% for the week ending October 31, 2018

  • New privately owned housing units decreased to 1,217,000 in October 2018 reflecting a 3.8% decrease from year ago. New one family houses sold in US decreased to 544,000 units with 12% decrease from year ago and Mean Sales Price of Existing Homes decreased to $293,900 with 0.7% decrease from month ago

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Economic Indicators - October 2018

Bay Area County Homes Sales Report - November 2018

  • Homeownership Rate for US is 63.9% in January 2017. US Leading Index is at 1.41% in October 2018 reflecting a 11.9% decrease compared to last year and California Leading Index is at 1.54% in October 2018 reflecting a 22.2% decrease from year ago

  • Major Currencies increased to 104.6787 reflecting a 2.8% increase from year ago. Gold Fixing Price decreased to 1,215.393 reflecting 5.0% decrease from year ago. Crude Oil prices increased to 81.78 Dollars in October 2018 reflecting a 43.1% increase from year ago. Federal Deficit was at  -3.41705% in October 2018 reflecting a 9.3% increase from year ago. Total Vehicles sales is 18.016 Million in October 2018 reflecting a 1.6% decrease from year ago

  • Mortgage backed securities for all maturities is $1,742,845 Mn in May 2018 reflecting a 1.7% decrease from year ago

  • Real Gross Domestic Product increased 18,664.973 Bn reflecting 3.0% change from year ago. Federal Debt Total Public Debt as Percentage of GDP increased 104.15261 reflecting 0.8% change from year ago

  • Average Bay Area county selling price for counties analysed was $1,191,386 in November 2018. Santa Clara County led with the highest average selling price at $1,986,422, followed by San Mateo County at $1,982,528, Santa Cruz  county at $983,197, Alameda County at $946,102, Contra Costa  County at $770,311,  Monterey County at $659,913 and San Benito  County at $616,791

  • Total Average Days on Market in Bay Area counties analysed was 79 days. 92 for Santa Cruz County County, 87 for Monterey County, 79 for San Mateo County, 78 for Alameda County, 75 for Santa Clara County, 71 for Contra Costa  County and 70 for San Benito County

  • Bay Area counties analyzed had Listings Sold of 3,087 in November 2018. Alameda County had the highest at 842, Santa Clara County at 816, followed by Contra Costa  County at 775,   San Mateo County at 328, Monterey County at 160, Santa Cruz  County County at 128 and San Benito County at 36

  • Sales Price to List price in November 2018 is at 99.42%. Alameda County is at 101.34%, San Mateo County at 100.1%, Contra Costa  County at 99.79%, Santa Clara County at 99.67%, San Benito County at 98.73%, Monterey County at 97.28% and Santa Cruz  County at 96.93%

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"If you focun on results, you will never change. If you focus on change, you will get results."

- Jack Dixon

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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 9-month low as government shutdown is already biting the housing market

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More homes are for sale, but fewer are affordable

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Home prices in six cities show signs of a shifting housing 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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