{"id":7899,"date":"2018-01-24T00:00:00","date_gmt":"2018-01-24T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/home-buyers-in-a-rush-to-beat-higher-rates\/"},"modified":"2018-01-24T00:00:00","modified_gmt":"2018-01-24T00:00:00","slug":"home-buyers-in-a-rush-to-beat-higher-rates","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/home-buyers-in-a-rush-to-beat-higher-rates\/","title":{"rendered":"Home Buyers in a Rush to Beat Higher Rates"},"content":{"rendered":"

\n<\/p>\n

\n \n

Mortgage<\/a> rates are moving higher, and that has some home shoppers rushing to locking in rates before they edge up even more.<\/p>\n\n

\"\"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. Loan<\/a> applications are now 6.1 percent higher than the same week a year ago.<\/p>\n\n

Broken out, applications to purchase a home surged 6 percent during the week and reached their highest level since April 2010, the MBA reports. Loan<\/a> applications for home purchases are now 7 percent higher than the same week a year ago.<\/p>\n\n

“A combination of being left on the sideline last summer due to a lack of inventory for sale and the prospect of slowly rising interest rates over the near term appears to have buyers in a hurry to start the spring buying season,” says Lynn Fisher, the MBA’s vice president of research and economics.<\/p>\n\n

Mortgage applications to refinance a home increased 1 percent for the week. Typically, refinance applications move lower when interest rates rise, but borrowers are showing some concern for missing an opportunity to refinance at lower rates.<\/p>\n\n

The 30-year fixed-rate mortgage averaged 4.36 percent during the week, its highest average since March, the MBA reports.<\/p>\n\n

“The increases that we’ve seen so far have only gotten people off the couch and into the market,” Glenn Kelman, CEO of Redfin, told CNBC. “People are worrying that they need to hurry and buy a house<\/a> now before rates go up further.”<\/p>\n\n

Source: \u201cMortgage Applications Jump 4.5% as Buyers Rush to Beat Higher Rates,\u201d CNBC (Jan. 24, 2018)<\/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 rates are moving higher, and that has some home shoppers rushing to locking in rates … Home Buyers in a Rush to Beat Higher Rates<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7900,"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":[981,4751,1403,15239,1418,62,12908,543,617,1329,408,1032,41,818,479],"class_list":["post-7899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-a-house","tag-amazing","tag-buy","tag-chase","tag-fish","tag-for-sale","tag-home","tag-home-buying-guide","tag-house","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\/2018\/01\/Mortgage_Activity_012418.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8371,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-rates-offset-loan-demand\/","url_meta":{"origin":7899,"position":0},"title":"Higher Rates Offset Loan Demand","author":"Amazing Property","date":"February 21, 2018","format":false,"excerpt":"Home buyers and homeowners may be getting spooked by higher mortgage rates. Mortgage applications for both home purchases and refinancings plummeted 6.6 percent last week on a seasonally adjusted basis compared to the previous week, the Mortgage Bankers Association reported Wednesday. Volume is now just 3.5 percent higher than 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 022118.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.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\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&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":7899,"position":1},"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":5032,"url":"https:\/\/amazingproperty.com.ng\/blog\/steadier-mortgage-rates-buoy-loan-demand\/","url_meta":{"origin":7899,"position":2},"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":6503,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-as-buyers-owners-pause\/","url_meta":{"origin":7899,"position":3},"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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Total application volume dropped 2.1 percent week-to-week on a seasonally adjusted basis, the MBA reported Wednesday. 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