Weekly Newsletter – 08-09-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – August 08, 2019

Weekly Mortgage Applications – 08-07-2019

  • 30 Year Mortgage Rate is at 3.6% compared to 3.75 last week. The 30 year rock bottom rate touched in last 10 years is 3.59%

  • 15 Year Mortgage Rate decreased to 3.05% compared to 3.2% last week. The 15 year rock bottom rate touched in last 10 years is 2.84%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.36% compared to 3.46% last week. The 15 year rock bottom rate touched in last 10 years is 2.77%

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

  • Mortgage applications increased by 5.3%  for the week ended August 07, 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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"Sometimes it's not about the money, but rather the process "

– Anonymous

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PROGRAMS


"A penny saved is a penny earned"

– Benjamin Franklin

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HOUSING AND ECONOMIC DATA

Freddie Mac Unemployment Rate – Consumer Prices – Real GDP – Actual and Forecasts – May 2019

 

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  • Actual unemployment rate for 1st quarter of 2019 is at 3.9%.  Forecast unemployment rate for 2nd quarter of 2019 is 3.7% until the last quarter of 2019. Forecast unemployment rate for 1st quarter of 2020 is 3.7% and will increase to 4.0% last quarter of 2020

  • Actual CPI for 1st quarter of 2019 is at 0.9%. Forecast for 2nd quarter of 2019 is 2.0% and will increase to 2.3% in the last quarter of 2019. Forecast for 1st quarter of 2019 is 2.3% and will decrease to 2.0% in the last quarter of 2019

  • Actual Real GDP is at 3.2% in 1st quarter of 2019. Forecast for 2nd quarter of 2019 is 1.5% and will decrease to 2.2% in the last quarter of 2019. Forecast for 1st quarter of 2020 is 2.0% and will decrease to 1.8% in the last quarter of 2020

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Freddie Mac Housing Starts – Home Sales – House Price Appreciation – Home Price Index – Actual and Forecasts – May 2019

Freddie Mac 1-4 Family Mortgage Origination – Conventional – FHA and VA – Actual and Forecasts – May 2019

  • Housing Starts actual is 1.19 MN in 1st quarter of 2019. Forecast for 2nd quarter of 2019 is 1.26 Mn going up to 1.29 Mn in last quarter of 2019. Forecast for 1st quarter of 2020 is 1.31 Mn going up to 1.35 Mn in last quarter of 2020

  • Total Home Sales Actual decreased to 5.87 Mn in 1st quarter 2019. Total Home sales for 2019 is at 5.92 Mn in 2nd quarter and up to 6.12 Mn in the last quarter of 2019. Total Home sales for 2020 is at 6.15 Mn in 1st quarter and up to 6.12 Mn in the last quarter of 2019

  • FMHPI house price appreciation actual is at 0.9% in 1st quarter of 2018. House price appreciation forecast for 2019 is at 0.9% in the 2nd quarter until the last quarter of 2019. House price appreciation forecast for 2020 is at 0.9% in the 1st quarter and 0.6% in the last quarter of 2020

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  • Mortgage origination Conventional loans forecast for 1st quarter of 2018 is $289 Bn and $302 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $282 Bn and is at $330 Bn in last quarter of 2019. Forecast for 1st quarter of 2019 is $320 Bn and is at $314 Bn in last quarter of 2019

  • Mortgage origination for FHA and VA increased to $75 Bn in 1st quarter of 2019. Forecast for 2nd quarter of 2019 is $101 Bn and last quarter of 2018 is $83 Bn. Forecast for 1st quarter of 2019 is $80 Bn and last quarter of 2018 is $79 Bn

  • Mortgage origination Total forecast for 1st quarter of 2018 is $377 Bn and will increase to $384 Bn in last quarter of 2018. Forecast for 1st quarter of 2019 is $357 Bn and will taper to $413 Bn in last quarter of 2019. Forecast for 1st quarter of 2019 is $400 Bn and will taper to $393 Bn in last quarter of 2019

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"Planning is bringing the future into the present so that you can do something about it now."

– Allan Lakeigh

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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!

Mortgage refinances spike 12% on a big rate drop, but homebuyers pull back again

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Tariffs are rising, the Fed didn’t calm markets — so stay bullish, of course

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U.S Mortgage Rates – Hold Steady But Could Be in for a Slide

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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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