{"id":5558,"date":"2017-08-02T00:00:00","date_gmt":"2017-08-02T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/stagnant-mortgage-rates-stall-loan-demand\/"},"modified":"2017-08-02T00:00:00","modified_gmt":"2017-08-02T00:00:00","slug":"stagnant-mortgage-rates-stall-loan-demand","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/stagnant-mortgage-rates-stall-loan-demand\/","title":{"rendered":"Stagnant Mortgage Rates Stall Loan Demand"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n
<\/p>\n

\"\"Total mortgage<\/a> application activity for home buying and refinancing continued to edge down last week, dropping 2.8 percent on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Mortgage volume is now 22 percent lower compared to the same week a year ago.<\/p>\n

Mortgage rates are hovering around their lowest levels in five weeks, which means home shoppers may not be feeling the same pressure to lock in before an increase. However, the lower volume is mostly due to a decrease in refinancing as applications to refinance a home dropped 4 percent for the week. Refi activity\u00a0is now 41 percent lower than the same week a year ago, when interest rates were also much lower.<\/p>\n

Still, applications to purchase a home dropped 2 percent last week in\u00a0the second consecutive week of declines. Home purchase<\/a> applications are now at the lowest levels since March. But applications are 9 percent higher than the same week a year ago.<\/p>\n

The average interest rate on a 30-year fixed-rate mortgage was unchanged at 4.17 percent last week, the MBA reports.<\/p>\n

“It was an up-and-down time for rates last week in response to mixed economic news coupled with the Fed’s [Federal Open Market Committee] statement,” said Joel Kan, the MBA’s associate vice president of industry surveys and forecasting. “The statement outlined a mostly healthy outlook, with a slight concern over inflation and the news that balance sheet reduction could begin ‘relatively soon.'”<\/p>\n

Source: \u201cMortgage Applications Slide 2.8%, Even as Interest Rates Stay Low,\u201d CNBC (Aug. 2, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

Realtors.org <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Total mortgage application activity for home buying and refinancing continued to edge down last week, dropping … Stagnant Mortgage Rates Stall Loan Demand<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5559,"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":[1403,15239,12908,543,9488,408,1032,15272,41,818,479],"class_list":["post-5558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-interest-rates","tag-mortgage","tag-mortgage-bank","tag-outlook","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mortgage_Activity_080217.png?fit=620%2C326&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":783,"url":"https:\/\/amazingproperty.com.ng\/blog\/refinancing-pullback-stalls-loan-demand\/","url_meta":{"origin":5558,"position":0},"title":"Refinancing Pullback Stalls Loan Demand","author":"Amazing Property","date":"February 15, 2017","format":false,"excerpt":"[ad_1] Refinancing volume dipped to its lowest level since June 2009\u00a0and prompted overall mortgage application volume to drop 3.8 percent on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. Total mortgage application volume \u2013 which also includes applications for home purchases \u2013 is now nearly 31 percent lower\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":4131,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-to-buy-spring-ahead-5\/","url_meta":{"origin":5558,"position":1},"title":"Loan Applications to Buy Spring Ahead 5%","author":"Amazing Property","date":"May 3, 2017","format":false,"excerpt":"Home buyers are returning to the mortgage market, undeterred by rising mortgage rates. 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\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":6413,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-interest-rates-press-on-loan-demand\/","url_meta":{"origin":5558,"position":2},"title":"Higher Interest Rates Press On Loan Demand","author":"Amazing Property","date":"September 27, 2017","format":false,"excerpt":"The highest interest rates in a month prompted a setback to the mortgage market last week. Total mortgage application volume\u2014which includes applications for home purchases and refinancing\u2014dropped 0.5 percent on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. The more telling part, however, is that volume is now\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_092717.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/Mortgage_Activity_092717.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\/2017\/09\/Mortgage_Activity_092717.png?fit=620%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/Mortgage_Activity_092717.png?fit=620%2C326&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6659,"url":"https:\/\/amazingproperty.com.ng\/blog\/lower-rates-spark-higher-loan-demand\/","url_meta":{"origin":5558,"position":3},"title":"Lower Rates Spark Higher Loan Demand","author":"Amazing Property","date":"October 18, 2017","format":false,"excerpt":"A slight decrease in mortgage rates brought refinancers and home shoppers back to lenders last week. Total mortgage application volume for refinancings and home purchases rose 3.6 percent week-over-week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. However, the volume still is nearly 19 percent below the\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 101317.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_101317.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\/2017\/10\/Mortgage_Activity_101317.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_101317.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6862,"url":"https:\/\/amazingproperty.com.ng\/blog\/borrowers-more-cautious-as-rates-rise\/","url_meta":{"origin":5558,"position":4},"title":"Borrowers More Cautious as Rates Rise","author":"Amazing Property","date":"November 1, 2017","format":false,"excerpt":"Mortgage rates inched higher last week, prompting more buyers and homeowners to retreat from taking out loans.\u00a0 Total mortgage application volume, which includes refinancing and home purchases, dropped 2.6 percent last week on a seasonally adjusted annual basis, the Mortgage Bankers Association reported Wednesday. The index is now 20 percent\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 110117.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Mortgage_Activity_110117.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\/2017\/11\/Mortgage_Activity_110117.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Mortgage_Activity_110117.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6765,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-volume-back-down-again\/","url_meta":{"origin":5558,"position":5},"title":"Mortgage Volume Back Down Again","author":"Amazing Property","date":"October 25, 2017","format":false,"excerpt":"Mortgage applications reversed course last week after a brief rebound the week before. Total volume for refinancings and home purchases plunged 4.6 percent on a seasonally adjusted week-over-week basis, the Mortgage Bankers Association reported Wednesday. The index is now 19 percent lower than the same week a year ago. Home\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 102517.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_102517.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\/2017\/10\/Mortgage_Activity_102517.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_102517.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=5558"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/5558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/5559"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=5558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=5558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=5558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}