Weekly Newsletter – 07-26-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – July 25, 2019

Weekly Mortgage Applications – 07-24-2019

  • 30 Year Mortgage Rate is at 3.75% compared to 3.81% last week. The 30 year rock bottom rate touched in last 10 years is 3.49%

  • 15 Year Mortgage Rate decreased to 3.18% compared to 3.23% last week. The 15 year rock bottom rate touched in last 10 years is 2.80%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.47% compared to 3.48% last week. The 15 year rock bottom rate touched in last 10 years is 2.74%

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

  • Mortgage applications decreased by 1.9%  for the week ended July 24, 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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"If you want to reap financial blessings, you have to sow financially"

– Joel Osteen

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PROGRAMS


"Remember that credit is money"

– Benjamin Franklin

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HOUSING AND ECONOMIC DATA

Housing Starts – May 2019

 

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  • New privately owned housing unit starts decreased to 186,000 units with 4.6% percent change from year ago,  in Q1 of 2019

  • Housing Starts:2-4 Units is at 10,000 units in May 2019 with a 16.7% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,265,000 units with a 5.0% decrease in May 2019 from year ago

  • Privately Owned Housing Starts 1 Unit Structures decreased to 818,000 units with a 12.7% decrease from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 437,000 units with a 14.1% increase from year ago

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US Homes Report – May 2019

Unemployment Rate and Initial Claims – May 2019

  • Northeast had the highest averages in Existing Home Sales at 24.5% increase and Midwest had a 5.2% increase in Existing Home Prices in May 2019

  • Existing home sales Months Supply was at 4.2 months supply reflecting 2.4% increase from  month ago. Existing home sales Housing inventory increased to 1,910,000 units reflecting a 4.4% increase from month ago

  • SFR Delinquency Rate this 1st Quarter of 2019 is at 2.67% reflecting a 22.8% decrease from year ago, Mortgage Rate Reading for 30th of May is 3.99% for 30 yr, 3.46% for 15  yr, 3.60% for 5 yr and Mortgage Applications decreased by 2.9% for the week ending April 24, 2019

  • New privately owned housing units decreased to 1,265,000 in May 2019 reflecting a 5.0% decrease from year ago. New one family houses sold in US increased to 604,000 units with 7.1% decrease from year ago and Mean Sales Price of Existing Homes increased to $314,600 with 3.1% increase from month ago

  • Initial Claim in US is at 217,500 with a 1.1% decrease in May 2019 and Initial Claim in California is at 38,428 with a 2.4% decrease in May 2019

  • Unemployment rate in US is at 3.6% with a 5.3% decrease in May 2019 and Unemployment in California is at 4.2% with a 0.0% decrease in May 2019

  • San Francisco MSA has the highest decrease of unemployment rate from year ago at 8.3% in May 2019

  • San Diego MSA has 3.0% increase of unemployment rate from year ago in May 2019

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"The more your money works for you, the less you have to work for money"

– Anonymous

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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!

US growth could be weakest in more than two years but latest data might not affect Fed’s next move

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U.S. New-Home Sales Miss Estimates After Downward Revisions

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U.S. adds 224,000 jobs in June; unemployment rate steady at 3.7%

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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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