Weekly Newsletter – 02-15-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – February 14, 2019

Weekly Mortgage Applications – 02-13-2019

  • 30 Year Mortgage Rate decreased to 4.37% compared to 4.41% last week. The 30 year rock bottom rate touched in last 10 years is 3.53%

  • 15 Year Mortgage Rate decreased to 3.81% compared to 3.84% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.88% compared to 3.91% last week. The 15 year rock bottom rate touched in last 10 years is 2.64%

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

  • Mortgage applications decreased by 3.7%  for the week ended February 13, 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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"Making money is art and working is art and good business is the best art"

– Andy Warhol

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CONVENTIONAL LOAN PROGRAM

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"It's not your salary that makes you rich, it's your spending habits"

 

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HOUSING AND ECONOMIC DATA

Unemployment Rate and Initial Claims – November 2018

 

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  • Initial Claim in US is at 223,750 with a 7.3% decrease in November 2018 and Initial Claim in California is at 39,551 with a 9.8% decrease in November 2018

  • Unemployment rate in US is at 3.7% with a 11.9% decrease in November 2018 and Unemployment in California is at 4.1% with a 8.9% decrease in November 20

  • Napa MSA has the highest decrease of unemployment rate from year ago at 18.8% in November 2018

  • Los Angeles MSA has 4.9% change of unemployment rate from year ago with  in November 2018

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US Homes Report – November 2018

Payroll and Unemployment – November 2018

  • Midwest had the highest averages in Existing Home Sales at 5.5% increase and Northeast had a 3.3% increase in Existing Home Prices in November 2018

  • Existing home sales Months Supply was at 3.9 months supply reflecting 9.3% decrease from  month ago. Existing home sales Housing inventory decreased to 1,740,000 units reflecting a 5.9% decrease from month ago

  • SFR Delinquency Rate this 3rd Quarter of 2018 is at 3.01% reflecting a 17.5% decrease from year ago, Mortgage Rate Reading for 29th of November is 4.81% for 30 yr, 4.25% for 15  yr, 4.12% for 5 yr and Mortgage Applications increased by 5.5% for the week ending November 28, 2018

  • New privately owned housing units decreased to 1,256,000 in November 2018 reflecting a 3.6% decrease from year ago. New one family houses sold in US decreased to 657,000 units with 7.7% decrease from year ago and Mean Sales Price of Existing Homes decreased to $296,000 with 0.7% increase from month ago

  • Industrial Production Index has increased to 109.9836 in October 2018 reflecting a 4.5% increase from year ago. All Employees Total Non-farm  has increased to 150,048 (in thousands) in October 2018 reflecting a 1.8% increase from year ago

  • Average Initial Claims in United States decreased to 223,750 in October 2018 reflecting a 7.3% decrease from year ago. The Average Initial Claims in California decreased to 39,551 in October 2018 reflecting a 9.8% decrease from year ago

  • Napa in California had the highest drop in Unemployment Rate in October 2018 with 18.8% decrease from year ago. 10 Year Break even Inflation rate increased to 2.0% with 7.9% increase from year ago. The average hourly earning of all employees has increased to 27.43 dollars per hour with 3.3% increase in October 2018

  • Personal consumption expenditures has increased to $14,243.5 Bn in October 2018 with a 4.7% increase from year ago and Personal savings rate is at at 6.0% in October 2018 reflecting a 3.2% decrease from year ago

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The longer you're not taking action the more money you're losing""

– Carrie Wilkerson

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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!

Homebuilder sentiment rises as interest rates stay in check

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Blue State Lawmakers Target Wealthy With Progressive Income Tax Hikes That Would Hit Small Business

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Elizabeth Warren Wants a Wealth Tax. How Would That Even Work?

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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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