Weekly Newsletter – 11-22-19

 
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Weekly News Update

WEEKLY MORTGAGE RATES AND LOAN APPLICATIONS
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Weekly Mortgage Watch – November 21, 2019

Weekly Mortgage Applications – 11-20-2019

  • 30 Year Mortgage Rate decreased to 3.66% compared to 3.75% last week. The 30 year rock bottom rate touched in last 10 years is 3.31%

  • 15 Year Mortgage Rate decreased to 3.15% compared to 3.2% last week. The 15 year rock bottom rate touched in last 10 years is 2.63%

  • 5/1 Adjustable Rate Mortgage Rate decreased to 3.39% compared to 3.44% 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 decreased by 2.2%  for the week ended November 20, 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 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


"Even the intelligent investor is likely to need considerable will power to keep from following the crowd"

Benjamin Graham

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HOUSING AND ECONOMIC DATA

US Homes Prices Report – September 2019

 

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  • Median Sales Price of Existing Homes in US decreased to $272,100 with a 2.4% decrease from month ago

  • Median Sales Price in West decreased to $403,600 with a 1.1% decrease in June 2019 compared to last month

  • Midwest median sales price decreased to $213,500 with a 4.0% decrease compared to last month and South is at $237,300 reflecting a 1.1% decrease from month ago

  • Northeast median sales price has decreased to $301,100 reflecting a 4.9% decrease from month ago

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Housing Starts – September 2019

US Homes Report – September 2019

  • 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 September 2019 with a 22.2% increase from year ago. Housing Starts Total: New Privately Owned housing units starts increased to 1,256,000 units with a 1.6% increase in September 2019 from year ago

  • Privately Owned Housing Starts 1 Unit Structures decreased to 918,000 units with a 4.3% increase from year ago

  • Privately Owned Housing Starts 5 Unit Structures or More increased to 327,000 units with a 5.8% decrease from year ago

  • National averages of Existing Home Sales fell by 2.2%  and National Average Existing Home Prices fell 2.4% in September 2019

  • Existing home sales Months Supply was at 4.1 months supply reflecting 2.5% increase from  month ago. Existing home sales Housing inventory is at 1,830,000 units reflecting a 0% increase from month ago

  • SFR Delinquency Rate this 2nd Quarter of 2019 is at 2.45% reflecting a 18.3% decrease from year ago, Mortgage Rate Reading for 26th of September is 3.64% for 30 yr, 3.16% for 15  yr, 3.38% for 5 yr and Mortgage Applications increased by 10.1% for the week ending September 25, 2019

  • New privately owned housing units increased to 1,266,000 in September 2019 reflecting a 2.4% increase from year ago. New one family houses sold in US increased to 701,000 units with 15.5% increase from year ago and Mean Sales Price of Existing Homes decreased to $308,500 with 2.1% decrease from month ago

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Wealth is the ability to fully experience life"

– Henry David Thoreau

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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!

Here’s where the unemployment rate stands in the states that will decide Trump’s 2020 fate

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California unemployment falls to its lowest rate in more than four decades

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Mortgage rates are increasing again — so why did more people apply for home loans?

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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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