{"id":6765,"date":"2017-10-25T00:00:00","date_gmt":"2017-10-25T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-volume-back-down-again\/"},"modified":"2017-10-25T00:00:00","modified_gmt":"2017-10-25T00:00:00","slug":"mortgage-volume-back-down-again","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-volume-back-down-again\/","title":{"rendered":"Mortgage Volume Back Down Again"},"content":{"rendered":"

\n<\/p>\n

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Mortgage<\/a> 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.<\/p>\n\n

\"\"Home purchase<\/a> applications faced the biggest drops last week, falling 6 percent week over week, the MBA reports. Economists say that rising interest rates likely had less to do with the drop than the shortage of homes for sale<\/a>. Inventories of homes for-sale remain low across the country. Nevertheless, purchase applications still remain 10 percent higher than the same week a year ago.<\/p>\n\n

The average loan<\/a> amount on purchase applications is moving higher. Last week, the average loan<\/a> amount was $317,000, which is the highest since May, the MBA reports.<\/p>\n\n

Meanwhile, applications for refinancing, which tend to be influenced more by interest rates, dropped 3 percent last week. Refinancing applications are down 36 percent from a year ago.<\/p>\n\n

The 30-year fixed-rate mortgage averaged 4.18 percent last week, up from 4.14 percent in the previous week, the MBA reports. That marks the highest average since July.<\/p>\n\n

Source: \u201cWeekly Mortgage Applications Fall 4.6% as Rates Rise,\u201d CNBC (Oct. 25, 2017)<\/em><\/p>\n<\/div>\n \n \n<\/pre>\n\n<\/div>\n\n\n\n\n Realtors <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage applications reversed course last week after a brief rebound the week before. Total volume for … Mortgage Volume Back Down Again<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6766,"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":[4751,15239,62,12908,543,127,557,408,1032,41,818,479,15282],"class_list":["post-6765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-chase","tag-for-sale","tag-home","tag-home-buying-guide","tag-homes","tag-homes-for-sale","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_102517.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4786,"url":"https:\/\/amazingproperty.com.ng\/blog\/lack-of-homes-for-sale-constrains-loan-apps\/","url_meta":{"origin":6765,"position":0},"title":"Lack of Homes for Sale Constrains Loan Apps","author":"Amazing Property","date":"May 31, 2017","format":false,"excerpt":"[ad_1] Would-be buyers are hard-pressed to find enough homes for sale this spring, and that is chipping away at the number of mortgage applications lenders are processing, CNBC reports. Total mortgage applications, including those for refinancing and home purchases, dropped 3.4 percent week over week on a seasonally adjusted basis,\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\/05\/Mortgage_Activity_053117.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\/05\/Mortgage_Activity_053117.png?fit=620%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Mortgage_Activity_053117.png?fit=620%2C326&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6503,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-as-buyers-owners-pause\/","url_meta":{"origin":6765,"position":1},"title":"Loan Demand Stalls as Buyers, Owners Pause","author":"Amazing Property","date":"October 4, 2017","format":false,"excerpt":"Mortgage applications to purchase a home and for refinancing barely budged last week, the Mortgage Bankers Association reported Wednesday. Economists are blaming the stall in loan demand on rising interest rates and rising home prices. Total mortgage application for refinances and home purchases decreased 0.4 percent last week compared to\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 100417.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/mortgage_Activity_100417.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_100417.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_100417.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":6413,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-interest-rates-press-on-loan-demand\/","url_meta":{"origin":6765,"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":6013,"url":"https:\/\/amazingproperty.com.ng\/blog\/are-supply-woes-causing-loan-demand-drop\/","url_meta":{"origin":6765,"position":3},"title":"Are Supply Woes Causing Loan Demand Drop?","author":"Amazing Property","date":"August 30, 2017","format":false,"excerpt":"The number of mortgage applications for home purchases continues to underwhelm, despite rates being at their lowest levels since November. Mortgage applications for purchasing a home dropped 3 percent last week on a seasonally adjusted basis. 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Total mortgage application volume\u2014for refinances and home purchases\u2014mostly stayed flat last week, dropping by a mere 0.8 percent compared to the previous week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. 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