{"id":6584,"date":"2017-10-11T00:00:00","date_gmt":"2017-10-11T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/as-rates-rise-loan-demand-softens\/"},"modified":"2017-10-11T00:00:00","modified_gmt":"2017-10-11T00:00:00","slug":"as-rates-rise-loan-demand-softens","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/as-rates-rise-loan-demand-softens\/","title":{"rendered":"As Rates Rise, Loan Demand Softens"},"content":{"rendered":"

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Mortgage<\/a> applications dropped across the board last week as interest rates surged to their highest levels since July, according to the Mortgage Bankers Association. Total application volume dropped 2.1 percent week-to-week on a seasonally adjusted basis, the MBA reported Wednesday.<\/p>\n

\"\"Most of the drop in applications came from those looking to refinance, the group that tends to be the most rate sensitive. Refinance applications dropped 4 percent last week and are now down 38 percent from a year ago.<\/p>\n

Meanwhile, mortgage applications to purchase a home mostly were flat last week, easing down just 0.1 percent week-over-week. Purchase applications still remain 7 percent higher than a year ago. However, the dollar volume of mortgage applications is up 12 percent from a year ago, a signal\u00a0that more mortgage activity is happening in higher price ranges.<\/p>\n

The 30-year fixed-rate mortgage averaged 4.16 percent last week, up from 4.12 percent the week prior, the MBA reports. The 30-year rate increased 4 basis points to reach its highest level since July.<\/p>\n

Source: \u201cMortgage Applications Drop 2.1% as Interest Rates Hit Highest Level Since July,\u201d CNBC (Oct. 11, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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

Mortgage applications dropped across the board last week as interest rates surged to their highest levels … As Rates Rise, Loan Demand Softens<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6585,"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":[15239,12908,543,9488,408,1032,41,818,479,15282],"class_list":["post-6584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-chase","tag-home","tag-home-buying-guide","tag-interest-rates","tag-mortgage","tag-mortgage-bank","tag-property","tag-real","tag-realtor","tag-ross"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_101017.png?fit=600%2C315&ssl=1","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":6584,"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":5032,"url":"https:\/\/amazingproperty.com.ng\/blog\/steadier-mortgage-rates-buoy-loan-demand\/","url_meta":{"origin":6584,"position":1},"title":"Steadier Mortgage Rates Buoy Loan Demand","author":"Amazing Property","date":"June 21, 2017","format":false,"excerpt":"[ad_1] Mortgage applications for refinancings and home purchases remained elevated last week as mortgage rates continued to give consumers incentive to make a move. \"Both the 10-year Treasury yield and the 30-year conventional mortgage fixed rate held steady last week, keeping rates well below the recent highs,\" says Lynn Fisher,\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":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/Mortgage_Activity_062117.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\/06\/Mortgage_Activity_062117.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/06\/Mortgage_Activity_062117.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5761,"url":"https:\/\/amazingproperty.com.ng\/blog\/lower-rates-not-swaying-borrowers\/","url_meta":{"origin":6584,"position":2},"title":"Lower Rates Not Swaying Borrowers","author":"Amazing Property","date":"August 17, 2017","format":false,"excerpt":"Mortgage rates dropped to the lowest averages since November, but that did little to entice home buyers and refinancers last week. The Mortgage Bankers Association reports that total mortgage application volume\u2014including for refinancing and home purchases\u2014eked out just a 0.1 percent week-over-week increase. Volume is nearly 22 percent lower than\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_081717.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mortgage_Activity_081717.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\/08\/Mortgage_Activity_081717.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mortgage_Activity_081717.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7972,"url":"https:\/\/amazingproperty.com.ng\/blog\/rising-rates-cause-loan-demand-to-teeter\/","url_meta":{"origin":6584,"position":3},"title":"Rising Rates Cause Loan Demand to Teeter","author":"Amazing Property","date":"January 31, 2018","format":false,"excerpt":"Mortgage rates were on the rise for the second consecutive week, causing some borrowers to show reluctance. Total mortgage application activity\u2014which reflects both refinancing and home purchase demand\u2014dropped 2.6 percent last week, the Mortgage Bankers Association reported Wednesday. Nevertheless, mortgage volume remains 6.6 percent higher than the same week 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 012618.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Mortgage_Activity_012618.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_012618.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_012618.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7284,"url":"https:\/\/amazingproperty.com.ng\/blog\/post-turkey-slump-loan-demand-drops\/","url_meta":{"origin":6584,"position":4},"title":"Post-Turkey Slump? Loan Demand Drops","author":"Amazing Property","date":"November 29, 2017","format":false,"excerpt":"The Thanksgiving holiday may have taken a bite out of mortgage applications last week. Mortgage applications dropped 3.1 percent for the week on a seasonally adjusted report, which included the Thanksgiving holiday, the Mortgage Bankers Association reported Wednesday. The MBA\u2019s mortgage index reflects demand for refinancing and home purchase applications.\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 112917.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Mortgage_Activity_112917.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_112917.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_112917.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5558,"url":"https:\/\/amazingproperty.com.ng\/blog\/stagnant-mortgage-rates-stall-loan-demand\/","url_meta":{"origin":6584,"position":5},"title":"Stagnant Mortgage Rates Stall Loan Demand","author":"Amazing Property","date":"August 2, 2017","format":false,"excerpt":"Total mortgage 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. Mortgage rates are hovering around their\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":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mortgage_Activity_080217.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\/08\/Mortgage_Activity_080217.png?fit=620%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mortgage_Activity_080217.png?fit=620%2C326&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6584","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=6584"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/6584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/6585"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=6584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=6584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=6584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}