Weekly Newsletter – 03-15-19

 
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Weekly News Update

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

Weekly Mortgage Applications – 03-13-2019

  • 30 Year Mortgage Rate decreased to 4.31% compared to 4.41% last week. The 30 year rock bottom rate touched in last 10 years is 3.63%

  • 15 Year Mortgage Rate decreased to 3.76% compared to 3.83% last week. The 15 year rock bottom rate touched in last 10 years is 2.79%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.84% compared to 3.87% 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 decreased by 2.3%  for the week ended March 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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"Financial literacy is just as important in life as the other basics"

– John W Rogers Jr

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CONVENTIONAL LOAN PROGRAM

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"Be so busy improving yourself, you have no time to criticize other."

 

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HOUSING AND ECONOMIC DATA

US Homes Report – January 2019

 

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  • Northeast had the lowest averages in Existing Home Sales at 26.4% decrease and Northeast and South had a 4.7% decrease in Existing Home Prices in January 2019

  • Existing home sales Months Supply was at 3.9 months supply reflecting 5.4% increase from  month ago. Existing home sales Housing inventory increased to 1,590,000 units reflecting a 3.9% decrease from month ago

  • SFR Delinquency Rate this 4th Quarter of 2018 is at 2.83% reflecting a 20.5% decrease from year ago, Mortgage Rate Reading for 31st of December is 4.45% for 30 yr, 3.89% for 15  yr, 3.96% for 5 yr and Mortgage Applications increased by 3.0% for the week ending January 30, 2019

  • New privately owned housing units decreased to 1,230,000 in January 2019 reflecting a 7.8% decrease from year ago. New one family houses sold in US decreased to 607,000 units with 4.1% decrease from year ago and Mean Sales Price of Existing Homes decreased to $286,800 with 2.4% decrease from month ago

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Unemployment Rate and Initial Claims – January 2019

US Homes Prices Report – January 2019

  • Initial Claim in US is at 220,250 with a 5.9% decrease in January 2019 and Initial Claim in California is at 49,446 with a 4.5% decrease in January 2019

  • Unemployment rate in US is at 4.0% with a 2.4% decrease in January 2019 and Unemployment in California is at 4.2% with a 4.5% decrease in January 2019

  • Santa Cruz MSA has the highest decrease of unemployment rate from year ago at 7.0% in January 2019

  • San Jose MSA has 3.4% change of unemployment rate from year ago with  in January 2019

  • 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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"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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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!

Home loan applications rise as wealthier shoppers hunt for more expensive houses

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FHA eases home warranty requirement for low down payment loans

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Weekly mortgage applications hit a record, but not a healthy one for housing

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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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