Weekly Newsletter – 09-27-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – September 26, 2019

Weekly Mortgage Applications – 09-25-2019

  • 30 Year Mortgage Rate  decreased to 3.64% compared to 3.73% last week. The 30 year rock bottom rate touched in last 10 years is 3.40%

  • 15 Year Mortgage Rate decreased to 3.16% compared to 3.21% last week. The 15 year rock bottom rate touched in last 10 years is 2.73%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.38% compared to 3.49% last week. The 15 year rock bottom rate touched in last 10 years is 2.71%

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

  • Mortgage applications decreased by 10.1%  for the week ended September 25, 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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“The difference between failure and success is not much more than the changes we choose to embrace from one moment to another, one day to another”

– Anonymous

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PROGRAMS


“Focus on the possibilities for success, not on the potential for failure”

– Anonymous

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HOUSING AND ECONOMIC DATA

Housing Starts – July 2019

 

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  • New privately owned housing unit starts decreased to 243,000 units with 5.4% percent change from year ago,  in Q2 of 2019

  • Housing Starts:2-4 Units is at 11,000 units in July 2019 with a 83.3% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,215,000 units with a 2.6% increase in July 2019 from year ago

  • Privately Owned Housing Starts 1 Unit Structures decreased to 880,000 units with a 2.3% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 324,000 units with a 1.9% increase from year ago

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Unemployment Rate and Initial Claims – July 2019

US Homes Report – July 2019

  • Initial Claim in US is at 212,000 with a 1.5% decrease in July 2019 and Initial Claim in California is at 38,009 with a 0.4% decrease in July 2019

  • Unemployment rate in US is at 3.7% with a 5.1% decrease in July 2019 and Unemployment in California is at 4.1% with a 0.0% decrease in July 2019

  • Modesto MSA has the highest decrease of unemployment rate from year ago at 4.3% in July 2019

  • Visalia MSA has 1.0% increase of unemployment rate from year ago in July 2019

  • West had the highest averages in Existing Home Sales at 8.3% increase and Northeast had a 4.8% decrease in Existing Home Prices in July 2019

  • Existing home sales Months Supply was at 4.2 months supply reflecting 4.5% decrease from  month ago. Existing home sales Housing inventory increased to 1,900,000 units reflecting a 1% decrease from month ago

  • SFR Delinquency Rate this 1st Quarter of 2019 is at 2.59% reflecting a 19.6% decrease from year ago, Mortgage Rate Reading for 25th of June is 3.75% for 30 yr, 3.18% for 15  yr, 3.47% for 5 yr and Mortgage Applications increased by 1.4% for the week ending July 31, 2019

  • New privately owned housing units decreased to 1,215,000 in July 2019 reflecting a 2.6% increase from year ago. New one family houses sold in US increased to 666,000 units with 9.4% increase from year ago and Mean Sales Price of Existing Homes increased to $316,800 with 1.4% decrease from month ago

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“The only limits to our realization of tomorrow will be our doubts of today”

– Franklin D. Roosevelt

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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 to 17-month high in August

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Nobel-winning economist Robert Shiller: We’re ‘sneaking back into the old 2006 mentality’

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This Bay Area city ranked best place to retire in California Eight Bay Area cities made the top ten

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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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