{"id":7446,"date":"2017-12-13T00:00:00","date_gmt":"2017-12-13T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-applications-teeter-as-rates-rise\/"},"modified":"2017-12-13T00:00:00","modified_gmt":"2017-12-13T00:00:00","slug":"mortgage-applications-teeter-as-rates-rise","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-applications-teeter-as-rates-rise\/","title":{"rendered":"Mortgage Applications Teeter as Rates Rise"},"content":{"rendered":"

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Loan<\/a> demand dropped 2.3 percent last week as a slight increase in rates may have spooked potential home buyers and refinancers.<\/p>\n

The Mortgage<\/a> Bankers Association reported that applications to refinance saw the bulk of the decrease last week, dropping 3 percent for the week. Applications to purchase a home saw a 1 percent decrease for the week. However, applications to buy are still 10 percent higher than the same week a year ago, the MBA reports.<\/p>\n

\"\"The average 30-year fixed-rate mortgage increased from 4.19 percent to 4.20 percent last week.<\/p>\n

Fears over the prospect of higher interest rates and fallout from proposed tax reform\u00a0in 2018 may be prompting some buyers to make a move before the end of year, CNBC reports.\u00a0Some local REALTOR\u00ae associations have recently reported\u00a0a sizable jump in newly signed contracts for purchasing existing homes.<\/p>\n

For example, “the residential market in Northern Virginia during November provided some impressive sales statistics, counter to historical trends where the month is generally one of the quietest for selling,” Tracy Comstock, principal broker of SilverLine Realty & Investment, said in a report from the Northern Virginia Association of REALTORS\u00ae.<\/p>\n

Source: \u201cWeekly Mortgage Applications Fall 2.3% as Rates Rise,\u201d CNBC (Dec. 13, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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

Loan demand dropped 2.3 percent last week as a slight increase in rates may have spooked … Mortgage Applications Teeter as Rates Rise<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7447,"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":[1403,15239,12908,543,127,1329,408,1032,41,818,479],"class_list":["post-7446","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-homes","tag-loan","tag-mortgage","tag-mortgage-bank","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\/12\/Mortgage_Activity_120817.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4131,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-to-buy-spring-ahead-5\/","url_meta":{"origin":7446,"position":0},"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":671,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-buoyed-by-slight-drop-in-rates\/","url_meta":{"origin":7446,"position":1},"title":"Loan Demand Buoyed by Slight Drop in Rates","author":"Amazing Property","date":"February 8, 2017","format":false,"excerpt":"[ad_1] A slight decrease in mortgage rates last week gave home buyers a slight jolt to get moving. Total mortgage application volume, which includes refinancings and home purchases, increased 2.3 percent on a seasonally adjusted basis last week, the Mortgage Bankers Association reported Wednesday. That said, applications continue to run\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":6013,"url":"https:\/\/amazingproperty.com.ng\/blog\/are-supply-woes-causing-loan-demand-drop\/","url_meta":{"origin":7446,"position":2},"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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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":1145,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-sluggish-heading-into-spring\/","url_meta":{"origin":7446,"position":4},"title":"Loan Demand Sluggish Heading Into Spring","author":"Amazing Property","date":"February 22, 2017","format":false,"excerpt":"[ad_1] As real estate heads into its busy spring season, consumers aren't showing typically large demand for mortgage loans just yet. Total mortgage application volume, which includes refinances and home purchases, dropped 2 percent week over week for the week ending Feb. 17, the Mortgage Bankers Association reports. Total mortgage\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":6503,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-as-buyers-owners-pause\/","url_meta":{"origin":7446,"position":5},"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. 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