Weekly Newsletter – 08-30-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – August 29, 2019

Weekly Mortgage Applications – 08-28-2019

  • 30 Year Mortgage Rate is increased at 3.58% compared to 3.55% last week. The 30 year rock bottom rate touched in last 10 years is 3.59%

  • 15 Year Mortgage Rate increased to 3.06% compared to 3.03% last week. The 15 year rock bottom rate touched in last 10 years is 2.86%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.31% compared to 3.32% last week. The 15 year rock bottom rate touched in last 10 years is 2.78%

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

  • Mortgage applications decreased by 6.2%  for the week ended August 28, 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 realized how powerful your thoughts are you'd never think a negative thought again"

– Anonymous

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PROGRAMS


"Create the highest, grandest vision possible for your life, because you become what you believe"

– Anonymous

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HOUSING AND ECONOMIC DATA

Payroll and Unemployment – June 2019

 

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  • Industrial Production Index has increased to 109.4144 in June 2019 reflecting a 1.1% increase from year ago. All Employees Total Non-farm  has increased to 151,267 in June 2019 reflecting a 1.5% increase from year ago

  • Average Initial Claims in United States decreased to 221,800 in June 2019 reflecting a 0.1% decrease from year ago. The Average Initial Claims in California decreased to 40,324 in June 2019 reflecting a 1.4% decrease from year ago

  • Modesto in California had the highest drop in Unemployment Rate in June 2019 with 5.8% decrease from year ago. 10 Year Break even Inflation rate decreased to 1.70% with 19.7% decrease from year ago. The average hourly earning of all employees has increased to 27.90 dollars per hour with 3.1% increase in June 2019

  • Personal consumption expenditures has increased to $14,549.6 Bn in June 2019 with a 3.9% increase from year ago and Personal savings rate decreased to 8.1% in June 2019 reflecting a 6.6% decrease from year ago

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Economic Indicators – June 2019

Freddie Mac Mortgage Rate Trend Actuals Vs Forecasts – June 2019

  • Homeownership Rate for US is 64.4% in January 2017. US Leading Index is at 1.25% in June 2019 reflecting a 20.4% decrease compared to last year and California Leading Index is at 2.05% in June 2019 reflecting a 33.1% increase from year ago

  • Major Currencies increased to 105.8419 reflecting a 2.3% increase from year ago. Gold Fixing Price decreased to 1,359.043 reflecting 1.5% decrease from year ago. Crude Oil prices decreased to 64.22 Dollars in June 2019 reflecting a 13.9% decrease from year ago. Federal Deficit was at -3.78586% in June 2019 reflecting a 11.0% increase from year ago. Total Vehicles sales is 17.661 Million in June 2019 reflecting a 0.2% decrease 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 19,023.820 Bn reflecting 2.3% change from year ago. Federal Debt Total Public Debt as Percentage of GDP increased 104.40334 reflecting 0.2% change from year ago

  • 30 year Fixed Mortgage Actual Rate is 4.4% in 1st quarter of 2019. Forecast for 2nd quarter of 2019 is 4.0% and will increase to 4.0 in 4th quarter of 2019. Forecast for 1st quarter of 2020 is 4.1% and will increase to 4.3% in 4th quarter of 2020

  • 10 year Const. Mat. Treas Actual Rate increased to 2.7% in 1st quarter of 2018. Forecast for 2nd to last quarter of 2019 is 2.3%. Forecast for 1st quarter of 2020 is 2.4% and will increase to 2.6% in last quarter of 2019

  • 5/1 year Hybrid Treasury Indexed ARM Actual Rate is 3.9% in 4th quarter of 2018. Forecast for 2nd quarter of 2019 is 3.7% and will increase to 3.8% in last quarter of 2019. Forecast for 1st quarter to last quarter of 2020 is 3.8%

  • Share your comments on our Facebook page

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"One day or day one. It's your decision"

– 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!

Rates Increase For First Time Since July, Application Volume Slips

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Southern California home sales and prices perked up in July

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Mini refinance boom goes bust, as mortgage rates turn higher

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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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