Weekly Newsletter – 09-13-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – September 12, 2019

Weekly Mortgage Applications – 09-11-2019

  • 30 Year Mortgage Rate is increased at 3.56% compared to 3.55% last week. The 30 year rock bottom rate touched in last 10 years is 3.55%

  • 15 Year Mortgage Rate increased to 3.09% compared to 3.00% last week. The 15 year rock bottom rate touched in last 10 years is 2.85%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.36% compared to 3.30% last week. The 15 year rock bottom rate touched in last 10 years is 2.72%

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

  • Mortgage applications increased by 2.0%  for the week ended September 11, 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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"Opportunities come infrequently. When it rains gold, put our the bucket, not the thimble"

– Anonymous

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PROGRAMS


"If you want to be successful in this world, you have to follow your passion not a paycheck"

– Jen Welter

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HOUSING AND ECONOMIC DATA

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – June 2019

 

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  • Refinancing Share Origination forecast for 2018 will be 40% in the 1st quarter and 26% in the last quarter. Forecast for 2019 will be 36% in the 1st quarter and 30% in the last quarter. Forecast for 2020 will be 35% in the 1st quarter and 21% in the last quarter

  • Change in Residential Mortgage Debt is 1.9% in 4th quarter of 2018. Forecast for 2019 will be 3.0% and will increase to 2.9% in the last quarter. Forecast for 2020 will be 2.9% and will increase to 2.8% in the last quarter

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Bay Area County Homes Sales Report – July 2019

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

  • Average Bay Area county selling price for counties analysed was $1,268,797 in July 2019. San Mateo County led with the highest average selling price at $2,117,715, followed by  Santa Clara County at 2,054,404 , Santa Cruz  county at $955,134, Alameda County at $926,835, Monterey County at $883,009, Contra Costa County at $816,401 and San Benito at $693,670

  • Total Average Days on Market in Bay Area counties analysed was 72 days. 118 for San Benito County County, 98 for Monterey County, 79 for Santa Clara County, 74 for Santa Cruz County, 71 for San Mateo County, 57 for Contra Costa County and 53 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 4790 in July 2019. Alameda County had the highest at 1281, Contra Costa County at 1255, followed by Santa Clara County at 1244, San Mateo County at 514, Monterey County at 241, 187 for Santa Cruz at 187 and San Benito County at 57

  • Sales Price to List price in July 2019 is at 101.15%. Alameda County is at 104.94%, San Mateo County at 103.26%, Contra Costa County at 101.76%, Santa Clara County at 100.02%, Santa Cruz County at 98.64%, San Benito County at 97.69% and Monterey County at 96.66%

  • 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 $280 Bn and is at $336 Bn in last quarter of 2019. Forecast for 1st quarter of 2019 is $325 Bn and is at $316 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 $355 Bn and will taper to $419 Bn in last quarter of 2019. Forecast for 1st quarter of 2019 is $405 Bn and will taper to $393 Bn in last quarter of 2019

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"There are no limits to what you can accomplish, except the limits you place on your own thinking"

– Brian Tracy

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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 existing home sales rise, boosted by lower interest rates

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Spike in New York’s prime property sales

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Fannie Mae: Declining mortgage rates propel nation’s home buying outlook to new high

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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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