{"id":7284,"date":"2017-11-29T00:00:00","date_gmt":"2017-11-29T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/post-turkey-slump-loan-demand-drops\/"},"modified":"2017-11-29T00:00:00","modified_gmt":"2017-11-29T00:00:00","slug":"post-turkey-slump-loan-demand-drops","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/post-turkey-slump-loan-demand-drops\/","title":{"rendered":"Post-Turkey Slump? Loan Demand Drops"},"content":{"rendered":"

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The Thanksgiving holiday may have taken a bite out of mortgage<\/a> 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<\/a> applications.<\/p>\n

\"\"Refinancing applications plunged 8 percent last week, the lowest level since January, the MBA reported. Refinance applications are now 18 percent below a year ago.<\/p>\n

Mortgage applications for home purchases did eke out a nearly 2 percent increase from last week. Purchase applications are 6 percent higher than a year ago.<\/p>\n

Overall, interest rates offered little incentive for homeowners or home shoppers. The average 30-year fixed-rate mortgage was 4.20 percent last week, which was basically the same average as the year prior, the MBA reports.<\/p>\n

Source: \u201cWeekly Mortgage Applications Fall 3.1%, as Interest Rates Offer<\/a> No Incentive,\u201d CNBC (Nov. 29, 2017)<\/em><\/p>\n

\u00a0<\/p>\n<\/div>\n<\/div>\n

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

The Thanksgiving holiday may have taken a bite out of mortgage applications last week. Mortgage applications … Post-Turkey Slump? Loan Demand Drops<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7285,"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":[15239,12908,543,627,9488,408,1032,1007,41,818,479],"class_list":["post-7284","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-homeowners","tag-interest-rates","tag-mortgage","tag-mortgage-bank","tag-owners","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\/11\/Mortgage_Activity_112917.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5558,"url":"https:\/\/amazingproperty.com.ng\/blog\/stagnant-mortgage-rates-stall-loan-demand\/","url_meta":{"origin":7284,"position":0},"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":[]},{"id":783,"url":"https:\/\/amazingproperty.com.ng\/blog\/refinancing-pullback-stalls-loan-demand\/","url_meta":{"origin":7284,"position":1},"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":7972,"url":"https:\/\/amazingproperty.com.ng\/blog\/rising-rates-cause-loan-demand-to-teeter\/","url_meta":{"origin":7284,"position":2},"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":6413,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-interest-rates-press-on-loan-demand\/","url_meta":{"origin":7284,"position":3},"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. 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