Weekly Newsletter – 05-31-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – May 30, 2019

Weekly Mortgage Applications – 05-29-2019

  • 30 Year Mortgage Rate decreased to 3.99% compared to 4.06% last week. The 30 year rock bottom rate touched in last 10 years is 3.81%

  • 15 Year Mortgage Rate decreased to 3.46% compared to 3.51% last week. The 15 year rock bottom rate touched in last 10 years is 2.97%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.60% compared to 3.68% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

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

  • Mortgage applications decreased by 3.3%  for the week ended May 29, 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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"Don't let the fear of loosing be greater than the excitement of winning"

– Robert Kiyosaki

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PROGRAMS


"Success doesn't come from what you do occasionally, success comes from what you do consistently."

 

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HOUSING AND ECONOMIC DATA

US Homes Report – March 2019

 

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  • Northeast had the highest averages in Existing Home Sales at 27.8% increase and South had a 3.4% increase in Existing Home Prices in March 2019

  • Existing home sales Months Supply was at 3.8 months supply reflecting 5.6% increase from  month ago. Existing home sales Housing inventory increased to 1,670,000 units reflecting a 2.5% increase 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 28th of March is 4.06% for 30 yr, 3.57% for 15  yr, 3.75% for 5 yr and Mortgage Applications increased by 8.9% for the week ending March 27, 2019

  • New privately owned housing units decreased to 1,168,000 in March 2019 reflecting a 12.3% decrease from year ago. New one family houses sold in US increased to 692,000 units with 3.0% increase from year ago and Mean Sales Price of Existing Homes increased to $297,500 with 3.1% increase from month ago

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Unemployment Rate and Initial Claims – March 2019

Economic Indicators – March 2019

  • Initial Claim in US is at 214,800 with a 3.6% decrease in March 2019 and Initial Claim in California is at 40,294 with a 3.0% decrease in March 2019

  • Unemployment rate in US is at 3.8% with a 5.0% decrease in March 2019 and Unemployment in California is at 4.3% with a 0.0% decrease in March 2019

  • Santa Barbara MSA has the highest decrease of unemployment rate from year ago at 4.9% in March 2019

  • Valejo MSA has 9.5% increase of unemployment rate from year ago in March 2019

  • Homeownership Rate for US is 63.4% in January 2017. US Leading Index is at 1.10% in March 2019 reflecting a 28.6% decrease compared to last year and California Leading Index is at 0.66% in March 2019 reflecting a 55.4% decrease from year ago

  • Major Currencies increased to 106.2158 reflecting a 7.0% increase from year ago. Gold Fixing Price decreased to 1,300.898 reflecting 1.8% decrease from year ago. Crude Oil prices decreased to 65.92 Dollars in March 2019 reflecting a 0.5% decrease from year ago. Federal Deficit was at  -3.80177% in March 2019 reflecting a 11.3% increase from year ago. Total Vehicles sales is 17.960 Million in March 2019 reflecting a 1.4% increase 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 18,912.326 Bn reflecting 3.2% change from year ago. Federal Debt Total Public Debt as Percentage of GDP increased 105.31487 reflecting 1.9% change from year ago

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"Life isn't about finding yourself. Life is about creating yourself."

– George Bernard Shaw

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PROGRAMS

Quick Turnaround and Closing

With inhouse underwriting and funding. Call me and let's make it happen!

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Programs


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!

Cramer: The US economy ‘could be on the verge of a significant slowdown’

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Home-price gains are weakest in 7 years, and that’s a good thing, Case-Shiller says

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Weekly mortgage applications drop 3.3%, as spring housing season draws to a close

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PROGRAMS


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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