Weekly Newsletter – 10-25-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – October 24, 2019

Weekly Mortgage Applications – 10-23-2019

  • 30 Year Mortgage Rate  increased to 3.75% compared to 3.69% last week. The 30 year rock bottom rate touched in last 10 years is 3.41%

  • 15 Year Mortgage Rate increased to 3.18% compared to 3.15% last week. The 15 year rock bottom rate touched in last 10 years is 2.72%

  • 5/1 Adjustable Rate Mortgage Rate increased to 3.40% compared to 3.35%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 decreased by 11.9%  for the week ended October 23, 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 way to get started is to quit talking and begin doing”

– Walt Disney

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PROGRAMS


“Don’t compare your progress to that of others. We all need our own time to travel our own distance”

– Anonymous

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HOUSING AND ECONOMIC DATA

Housing Starts – August 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 15,000 units in August 2019 with a 11.8% decrease from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,386,000 units with a 8.4% increase in August 2019 from year ago

  • Privately Owned Housing Starts 1 Unit Structures decreased to 915,000 units with a 8.4% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 456,000 units with a 22.3% increase from year ago

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US Homes Report – August 2019

Unemployment Rate and Initial Claims – August 2019

  • Midwest had the highest averages in Existing Home Sales at 3.1% increase and West had a 2.0% increase in Existing Home Prices in August 2019

  • Existing home sales Months Supply was at 4.1 months supply reflecting 2.4% decrease from  month ago. Existing home sales Housing inventory decreased to 1,860,000 units reflecting a 2.1% 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 29th of August is 3.58% for 30 yr, 3.06% for 15  yr, 3.31% for 5 yr and Mortgage Applications increased by 6.2% for the week ending August 28, 2019

  • New privately owned housing units decreased to 1,386,000 in August 2019 reflecting a 8.4% increase from year ago. New one family houses sold in US increased to 713,000 units with 18.0% increase from year ago and Mean Sales Price of Existing Homes increased to $314,600 with 0.7% decrease from month ago

  • Initial Claim in US is at 215,600 with a 0.4% increase in August 2019 and Initial Claim in California is at 36,366 with a 1.3% decrease in August 2019

  • Unemployment rate in US is at 3.7% with a 2.6% decrease in August 2019 and Unemployment in California is at 4.1% with a 0.0% decrease in August 2019

  • San Francisco MSA has the highest decrease of unemployment rate from year ago at 6.9% in August 2019

  • Visalia MSA has 9.8% increase of unemployment rate from year ago in August 2019

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“Everything comes to you at the right time. Be patient.”

– 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!

NAR: Existing home sales dampened by the housing market’s lack of inventory

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US home sales falter in September amid rising prices

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JPMorgan Warns U.S. Money-Market Stress to Get Much Worse

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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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