{"id":7829,"date":"2018-01-17T00:00:00","date_gmt":"2018-01-17T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-jumps-over-fears\/"},"modified":"2018-01-17T00:00:00","modified_gmt":"2018-01-17T00:00:00","slug":"loan-demand-jumps-over-fears","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-jumps-over-fears\/","title":{"rendered":"Loan Demand Jumps Over Fears?"},"content":{"rendered":"

\n<\/p>\n

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

\"\"Mortgage<\/a> applications for refinancings and home purchases surged 4.1 percent last week on a seasonally adjusted basis, even as interest rates rose, the Mortgage Bankers Association reported Wednesday. Volume is now up 5.6 percent over a year ago.<\/p>\n

More consumers are growing concerned that the long run of record low rates may be coming to an end. As such, they\u2019re rushing to lock in rates before any more upticks.<\/p>\n

Applications to purchase a home increased 3 percent last week and are now 7 percent higher than the same week a year ago. Refinance applications rose 4 percent last week. Typically, refinance applications drop when interest rates rise so applications diverted from normal patterns last week.<\/p>\n

The MBA reports that the average 30-year fixed-rate mortgage rose last week to 4.33 percent, from 4.23 percent the previous week. Interest rates across the board rose last week, including the 5\/1 adjustable-rate mortgage, which rose to its highest level since April 2011.<\/p>\n

“Treasury yields moved higher on average last week, based on news that both Japanese and European economic growth is strengthening, along with concern that China may reduce U.S. Treasury holdings in the near future,” explains Joel Kan, an MBA economist. “Despite the increase in rates, applications increased both for purchase and refinance. These increases were partly due to an upswing following the holiday season lull and potentially more borrowers trying to refinance before mortgage rates increase further.”<\/p>\n

Source: \u201cMortgage Applications Rise 4.1% as Borrowers See Last Chance to get Lowest Rates,\u201d CNBC (Jan. 17, 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

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

Mortgage applications for refinancings and home purchases surged 4.1 percent last week on a seasonally adjusted … Loan Demand Jumps Over Fears?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7830,"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":[15239,12908,543,408,1032,1295,41,818,479,15282,15309],"class_list":["post-7829","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-mortgage","tag-mortgage-bank","tag-mortgage-rate","tag-property","tag-real","tag-realtor","tag-ross","tag-ups"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Mortgage_Activity_011718.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7114,"url":"https:\/\/amazingproperty.com.ng\/blog\/as-rates-hit-pause-consumers-rush-to-lock-in\/","url_meta":{"origin":7829,"position":0},"title":"As Rates Hit Pause, Consumers Rush to Lock In","author":"Amazing Property","date":"November 15, 2017","format":false,"excerpt":"A slight dip in interest rates last week brought more homeowners and home buyers to the mortgage market. More homeowners were quick to refinance before interest rates rise again, and home buyers were able to lock in lower rates during the week. The Mortgage Bankers Association reported that 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":"Mortgage Activity 111517.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Mortgage_Activity_111517.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_111517.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_111517.png?fit=600%2C315&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":7829,"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":1699,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-race-is-on-to-snag-a-low-rate\/","url_meta":{"origin":7829,"position":2},"title":"The Race Is On to Snag a Low Rate","author":"Amazing Property","date":"March 8, 2017","format":false,"excerpt":"Borrowers are getting spooked by rising rates and, as a result, they\u2019re rushing to lock in rates before any further increases. That\u2019s pushing mortgage application volume higher, increasing a seasonally adjusted 3.3 percent week over week, the Mortgage Bankers Association reported Wednesday. Buyers are also increasingly turning to adjustable-rate mortgages\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":1471,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-apps-surge-as-rates-inch-lower\/","url_meta":{"origin":7829,"position":3},"title":"Mortgage Apps Surge as Rates Inch Lower","author":"Amazing Property","date":"March 1, 2017","format":false,"excerpt":"[ad_1] A slight decline in mortgage rates sent total mortgage application volume up 5.8 percent last week\u00a0on a seasonally adjusted basis compared to the previous week, the Mortgage Bankers Association reported Wednesday. Applications for home purchases, a gauge of future homebuying activity, rose 7 percent, while refinance applications increased 5\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":6584,"url":"https:\/\/amazingproperty.com.ng\/blog\/as-rates-rise-loan-demand-softens\/","url_meta":{"origin":7829,"position":4},"title":"As Rates Rise, Loan Demand Softens","author":"Amazing Property","date":"October 11, 2017","format":false,"excerpt":"Mortgage 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. Most of the drop in applications came from those looking\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 101017.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_101017.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_101017.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_101017.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3871,"url":"https:\/\/amazingproperty.com.ng\/blog\/lower-mortgage-rates-boost-loan-demand\/","url_meta":{"origin":7829,"position":5},"title":"Lower Mortgage Rates Boost Loan Demand","author":"Amazing Property","date":"April 26, 2017","format":false,"excerpt":"Total mortgage activity\u2014which includes applications for refinancings and home purchases\u2014rose 2.7 percent on a seasonally adjusted basis as homeowners rushed to take advantage of lower mortgage rates. The refinance market was what drove last week\u2019s increase, rising 7 percent week over week as mortgage rates dropped to the lowest level\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":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7829","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=7829"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7829\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7830"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}