Weekly Newsletter – 10-18-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – October 17, 2019

Weekly Mortgage Applications – 10-16-2019

  • 30 Year Mortgage Rate  increased to 3.69% compared to 3.57% last week. The 30 year rock bottom rate touched in last 10 years is 3.37%

  • 15 Year Mortgage Rate increased to 3.15% compared to 3.05% last week. The 15 year rock bottom rate touched in last 10 years is 2.66%

  • 5/1 Adjustable Rate Mortgage Rate is at 3.35% since last week. The 15 year rock bottom rate touched in last 10 years is 2.75%

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

  • Mortgage applications increased by 0.5%  for the week ended October 16, 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 key to being happy is knowing you have the power to choose what to accept and what to let go"

– Dodinsky

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PROGRAMS


"Happiness is when what you think, what you say and you do are in harmony"

– Anonymous

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HOUSING AND ECONOMIC DATA

Bay Area County Homes Sales Report – August 2019

 

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  • Average Bay Area county selling price for counties analysed was $1,175,466 in August 2019. San Mateo County led with the highest average selling price at $1,949,452, followed by  Santa Clara County at 1,908,017 , Alameda  county at $924,859, Contra Costa County at $832,635, Santa Cruz County at $806,060, Monterey County at $716,921 and San Benito at $491,081

  • Total Average Days on Market in Bay Area counties analysed was 74 days. 106 for Monterey County County, 98 for San Benito County, 93 for Santa Cruz County, 71 for San Mateo County, 65 for Contra Costa County, 65 days for Santa Clara county and 55 days for Alameda County

  • Bay Area counties analyzed had Listings Sold of 4,718 in August 2019. Alameda County had the highest at 1,290, Santa Clara County at 1,233, followed by Contra Costa County at 1,208, San Mateo County at 446, Monterey County at 266, Santa Cruz at 204 and San Benito County at 66

  • Sales Price to List price in August 2019 is at 100.69%. Alameda County is at 103.79%, San Mateo County at 101.75%, Contra Costa County at 101.64%, Santa Clara County at 99.43%, Santa Cruz County at 98.04% and Monterey County at 97.47%

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US Homes Sales Report – August 2019

US Homes Prices Report – August 2019

  • Number of units of existing home sales for month of August 2019 is at 5,490,000 and is at a 1.3% increase compared to last month

  • West census region is at 1,140,000 number of units and is at a 3.4% decrease for August 2019 compared to last month. Midwest  region for August 2019 is at 1,310,000 number of units, a 3.1% increase compared to last month

  • South region for August 2019 is at 2,330,000 number of units and is at a 0.9% increase from month ago

  • Northeast region for August 2019 is at 73,000 number of units and is 2.8% higher than last month

  • Median Sales Price of Existing Homes in US decreased to $278,200 with a 0.8% decrease from month ago

  • Median Sales Price in West decreased to $415,900 with a 2.0% increase in August 2019 compared to last month

  • Midwest median sales price decreased to $220,000 with a 2.8% decrease compared to last month and South is at $240,300 reflecting a 1.5% decrease from month ago

  • Northeast median sales price has decreased to $303,500 reflecting a 0.7% decrease from month ago

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"We don't develop courage by being happy every day. We develop it by surviving difficult times and challenging adversity"

 

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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!

Weekly mortgage refinance applications rise, even as home purchase demand falls

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Big bank mortgage originations continued rising in Q3 thanks to low interest rates

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Homebuilder confidence surges to highest level in nearly two years, thanks to lower mortgage rates

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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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