Weekly Newsletter – 11-15-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – November 14, 2019

Weekly Mortgage Applications – 11-13-2019

  • 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 3.34%

  • 15 Year Mortgage Rate increased to 3.2% compared to 3.13% last week. The 15 year rock bottom rate touched in last 10 years is 2.65%

  • 5/1 Adjustable Rate Mortgage Rate dincreased to 3.44% compared to 3.39% last week. The 15 year rock bottom rate touched in last 10 years is 2.74%

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

  • Mortgage applications increased by 9.6%  for the week ended November 13, 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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“The safest way to double your money is to fold it over once and put it in your pocket.”

– Frank McKinney Hubbard

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PROGRAMS


“Don’t wait to buy the real estate, buy real estate and wait”

– T Harv Eker

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HOUSING AND ECONOMIC DATA

Freddie Mac Percentages – ARM – Refinancing Applications and Origination – Refinancing Debt – Actual Vs Forecast – August 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 is 36% in the 1st quarter and 45% in the last quarter. Forecast for 2020 is 42% in the 1st quarter and 25% in the last quarter

  • Change in Residential Mortgage Debt is 2.3% in 1st quarter of 2019. Forecast for 2019 2nd quarter is 3.0% and will decrease to 2.9% in the last quarter. Forecast for 2020 is 32.9% and will increase to 2.8% in the last quarter

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Bay Area County Homes Sales Report – September 2019

US Homes Sales Report – September 2019

  • Average Bay Area county selling price for counties analysed was $1,179,953 in September 2019. Santa Clara County led with the highest average selling price at $1,965,685, followed by  San Mateo County at 1,841,567, Contra Costa  county at $895,296, Monterey County at $874,466, Alameda County at $843,612, Santa Cruz County at $728,506 and San Benito at $466,337

  • Total Average Days on Market in Bay Area counties analysed was 79 days, 166 for San Benito County County, 93 for Monterey County, 90 for Contra Costa County, 79 for Santa Cruz County, 75 for San Mateo County, 66 for Santa Clara County and 55 for Alameda County

  • Bay Area counties analyzed had Listings Sold of 3,910 in September 2019. Alameda County had the highest at 1,057, Santa Clara County at 1,013, followed by Contra Costa County at 1,007, San Mateo County at 376, Monterey County at 208, 187 for Santa Cruz and 52 for San Benito County

  • Sales Price to List price in September 2019 is at 100.35%. Alameda County is at 104.71%, Contra Costa County at 100.98%, San Mateo County at 100.71%, Santa Clara County at 99.76%, San Benito County at 99.23%, Santa Cruz County at 98.18% and Monterey County at 96.45%

  • Number of units of existing home sales for month of September 2019 is at 5,380,000 and is at a 2.2% decrease compared to last month

  • West census region is at 1,140,000 number of units and is at a 0.9% decrease for September 2019 compared to last month. Midwest  region for September 2019 is at 1,270,000 number of units, a 3.1% decrease compared to last month

  • South region for September 2019 is at 2,280,000 number of units and is at a 2.1% decrease from month ago

  • Northeast region for September 2019 is at 60,000 number of units and is 17.8% lower than last month

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“Successful investment is about managing risk not avoiding it”

– Benjamin Graham

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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!

Home Prices Jump In 95% Of Cities, Reaching Record High

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Stock market news: November 12, 2019

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Weekly mortgage applications jump to highest level in over a month, as borrowers worry that lower rates may be over

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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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