Weekly Newsletter – 03-08-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – March 07, 2019

Weekly Mortgage Applications – 03-06-2019

  • 30 Year Mortgage Rate increased to 4.41% compared to 4.35% last week. The 30 year rock bottom rate touched in last 10 years is 3.52%

  • 15 Year Mortgage Rate increased to 3.83% compared to 3.77% last week. The 15 year rock bottom rate touched in last 10 years is 2.76%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.87% compared to 3.84% last week. The 15 year rock bottom rate touched in last 10 years is 2.63%

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

  • Mortgage applications decreased by 2.5%  for the week ended March 06, 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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"Challenges are gifts that force us to search for a new center of gravity. Don't fight them. Just find a new way to stand"

 

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CONVENTIONAL LOAN PROGRAM

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"Turn your can't into can and dreams into plan"

– Anonymous

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HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – January 2019

 

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  • Average Bay Area county selling price for counties analysed was $993,048 in January 2019. Santa Clara County led with the highest average selling price at $1,669,802, followed by San Mateo County at $1,446,203, Alameda  county at $848,712, Contra Costa County at $747,772, Monterey  County at $729,118,  Santa Cruz County at $616,016 and San Benito  County at $380,398

  • Total Average Days on Market in Bay Area counties analysed was 83 days. 118 for San Benito County County, 114 for Monterey County, 84 for Santa Cruz County, 80 for Santa Clara County, 79 for San Mateo County, 77 for Contra Costa  County and 64 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 2,400 in January 2019. Alameda County had the highest at 677, Santa Clara County at 615, followed by Contra Costa  County at 580,   San Mateo County at 236, Monterey County at 178, Santa Cruz  County County at 93 and San Benito County at

  • Sales Price to List price in January 2019 is at 99.22%. San Mateo County is at 100.84%, Alameda County at 100.82%, Santa Clara County at 99.01%, Santa Cruz County at 98.98%, Contra Costa County at 98.88%, Monterey County at 96.66% and San Benito  County at 95.91%

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US Homes Sales Report – January 2019

US Homes Prices Report – January 2019

  • Number of units of existing home sales for month of January 2019 is at 4,940,000 and is at a 1.2% decrease compared to last month

  • West census region is at 1,000,000 number of units and is at a 2.9% decrease for January 2019 compared to last month. Midwest  region for January 2019 is at 1,160,000 number of units, a 2.5% decrease compared to last month

  • South region for January 2019 is at 2,080,000 number of units and is at a 1.0% decrease from month ago

  • Northeast region for January 2019 is at 39,000 number of units and is 26.4% lower than last month

  • Median Sales Price of Existing Homes in US decreased to $247,500 with a 2.8% decrease from month ago

  • Median Sales Price in West decreased to $374,600 with a 1.6% decrease in September 2018 compared to last month

  • Midwest median sales price decreased to $1189,700 with a 0.6% decrease compared to last month and South is at $214,800 reflecting a 4.7% decrease from month ago

  • Northeast median sales price has decreased to $270,000 reflecting a 4.7% decrease from month ago

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"Not every dollar of ours is meant to build wealth"

 

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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!

US economy won't enter recession in 2019: Mohamed El-Erian

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Weekly mortgage applications jump 5.3% as lower rates seem here to stay

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Mortgage rates remain subdued as housing issues grab the spotlight

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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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