{"id":4131,"date":"2017-05-03T00:00:00","date_gmt":"2017-05-03T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-to-buy-spring-ahead-5\/"},"modified":"2017-05-03T00:00:00","modified_gmt":"2017-05-03T00:00:00","slug":"loan-applications-to-buy-spring-ahead-5","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-to-buy-spring-ahead-5\/","title":{"rendered":"Loan Applications to Buy Spring Ahead 5%"},"content":{"rendered":"

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Home buyers are returning to the mortgage<\/a> market, undeterred by rising mortgage rates.<\/p>\n\n

Mortgage applications to buy a home, viewed as a gauge of future home-buying activity, climbed 4 percent last week on a seasonally adjusted basis. Purchase applications are now nearly 5 percent higher than a year ago, the Mortgage Bankers Association reported Wednesday.<\/p>\n\n

\u201cMore prospective home buyers returned to the market after two weeks of decreases in purchase activity, which were possibly due to spring break season and Easter,\u201d says Joel Kan, the MBA\u2019s associate vice president of industry surveys and forecasting.<\/p>\n\n

Home buyers were unfazed by higher rates last week. The average 30-year fixed-rate mortgage was 4.23 percent, up from 4.20 percent the week prior, MBA reports.<\/p>\n\n

The higher rates did cause homeowners to back off of refinancing, however. Refinancing applications were down 5 percent last week. That pushed down overall loan<\/a> applications on the MBA\u2019s activity index by 0.1 percent for the week (which totals purchase and refinancing demand). Total mortgage application volume now is 15 percent lower than the same week a year ago, due to the decrease in refinancing activity. Refinancing volume is 33 percent lower than the same week a year ago, the MBA reports.<\/p>\n\n

Source: \u201cMortgage Applications to Buy a Home Finally Spring Back, Climbing 5%,\u201d CNBC (May 3, 2017)<\/em><\/p>\n<\/div>\n \n \n<\/pre>\n\n<\/div>\n\n\n
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Home buyers are returning to the mortgage market, undeterred by rising mortgage rates. Mortgage applications to … Loan Applications to Buy Spring Ahead 5%<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4132,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,1403,15239,12908,543,627,408,1032,1295,1007,41,818],"class_list":["post-4131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-homeowners","tag-mortgage","tag-mortgage-bank","tag-mortgage-rate","tag-owners","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/X2gC9U9MKWA","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3556,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-dip-despite-2017-rate-low\/","url_meta":{"origin":4131,"position":0},"title":"Loan Applications Dip, Despite 2017 Rate Low","author":"Amazing Property","date":"April 19, 2017","format":false,"excerpt":"Fewer home buyers and refinancers took advantage of the lowest rate of the year last week. Total mortgage applications\u2014including for refinancings and home purchases\u2014dropped by 1.8 percent week over week, the Mortgage Bankers Association reported Wednesday. Mortgage applications are now down 23.5 percent from the same week a year ago.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3300,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-rise-as-rates-hit-2017-low\/","url_meta":{"origin":4131,"position":1},"title":"Loan Applications Rise as Rates Hit 2017 Low","author":"Amazing Property","date":"April 12, 2017","format":false,"excerpt":"More buyers moved to lock in rates last week, as mortgage costs dipped to their lowest average of the year. Total mortgage application activity\u2014which includes loans for home buying and refinancing\u2014increased 1.5 percent last week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Purchase applications\u00a0made up most\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7899,"url":"https:\/\/amazingproperty.com.ng\/blog\/home-buyers-in-a-rush-to-beat-higher-rates\/","url_meta":{"origin":4131,"position":2},"title":"Home Buyers in a Rush to Beat Higher Rates","author":"Amazing Property","date":"January 24, 2018","format":false,"excerpt":"Mortgage rates are moving higher, and that has some home shoppers rushing to locking in rates before they edge up even more. Mortgage applications for refinancings and home purchases increased 4.5 percent last week compared to the previous week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Mortgage Activity 012418.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Mortgage_Activity_012418.png?fit=600%2C315&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Mortgage_Activity_012418.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Mortgage_Activity_012418.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8371,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-rates-offset-loan-demand\/","url_meta":{"origin":4131,"position":3},"title":"Higher Rates Offset Loan Demand","author":"Amazing Property","date":"February 21, 2018","format":false,"excerpt":"Home buyers and homeowners may be getting spooked by higher mortgage rates. Mortgage applications for both home purchases and refinancings plummeted 6.6 percent last week on a seasonally adjusted basis compared to the previous week, the Mortgage Bankers Association reported Wednesday. Volume is now just 3.5 percent higher than a\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Mortgage Activity 022118.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8055,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-in-volatile-week\/","url_meta":{"origin":4131,"position":4},"title":"Loan Demand Stalls in Volatile Week","author":"Amazing Property","date":"February 7, 2018","format":false,"excerpt":"The highest mortgage rates in four years caused a pause in mortgage applications from home buyers and refinancers during a time when the market generally starts picking up in preparation for the spring season. Any shakeout from dips in the stock market in recent days will become more evident in\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Mortgage Activity 020718.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_020718.png?fit=600%2C315&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_020718.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_020718.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7446,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-applications-teeter-as-rates-rise\/","url_meta":{"origin":4131,"position":5},"title":"Mortgage Applications Teeter as Rates Rise","author":"Amazing Property","date":"December 13, 2017","format":false,"excerpt":"Loan demand dropped 2.3 percent last week as a slight increase in rates may have spooked potential home buyers and refinancers. 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