Weekly Newsletter – 03-01-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – February 28, 2019

Weekly Mortgage Applications – 02-27-2019

  • 30 Year Mortgage Rate decreased to 4.35% since last week. The 30 year rock bottom rate touched in last 10 years is 3.51%

  • 15 Year Mortgage Rate decreased to 3.77% compared to 3.78% last week. The 15 year rock bottom rate touched in last 10 years is 2.76%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.84% since last week. The 15 year rock bottom rate touched in last 10 years is 2.61%

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

  • Mortgage applications increased by 5.3%  for the week ended February 27, 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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"A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life"

 

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CONVENTIONAL LOAN PROGRAM

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"Life doesn't require that we be the best, only that we try our best"

– H. Jackson Brown Jr

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HOUSING AND ECONOMIC DATA

Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – November 2018

 

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  • Housing Starts actual is 1.22 MN in 3rd quarter of 2018. Forecast for 4th quarter of 2018 is 1.25Mn. Forecast for 1st quarter of 2019 is 1.29 Mn going up to 1.31 Mn in last quarter of 2019

  • Total Home Sales Actual decreased to 5.85 Mn in 3rd quarter 2018. Total Home sales for 2018 is 6.00 Mn in the last quarter of 2018. Total Home sales for 2019 is at 6.00 Mn in 1st quarter and up to 6.15 Mn in the last quarter of 2019

  • FMHPI house price appreciation actual is at 0.9% in 3rd quarter of 2018. House price appreciation forecast for 2018 is at 1.1% in the last quarter. House price appreciation forecast for 2019 is at 1.0% in the 1st quarter and 0.9% in the last quarter of 2019

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Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – November 2018

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

  • Mortgage origination Conventional loans actual for 4th quarter of 2017 is $373 Bn. Forecast for 1st quarter of 2018 is $284 Bn and $282 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $249 Bn and is at $300 Bn in last quarter of 2019

  • Mortgage origination for FHA and VA increased to $99 Bn in 3rd quarter of 2018. Forecast for last quarter of 2018 is $89 Bn. Forecast for 1st quarter of 2019 is $80 Bn and last quarter of 2018 is $92 Bn

  • Mortgage origination Total actual for 4th quarter of 2017 is $476 Bn. Forecast for 1st quarter of 2018 is $377 Bn and will increase to $371 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $329 Bn and will taper to $392 Bn in last quarter of 2019

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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 3.0% in 2nd quarter of 2018.Forecast for 3rd quarter of 2018 will be 3.2% and will increase to 3.4% in the last quarter. Forecast for 2019 will be 3.6% and will increase to 4.2% in the last quarter

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"Life is not a problem to be solved but a reality to be experienced."

– Soren Kierkegaard

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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!

GDP could show U.S. economy slipping below 2% growth at end of 2018

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Nelson: The US economy is the best house on the block

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The 25 least affordable housing markets in US are located in just 4 states

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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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