{"id":7972,"date":"2018-01-31T00:00:00","date_gmt":"2018-01-31T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/rising-rates-cause-loan-demand-to-teeter\/"},"modified":"2018-01-31T00:00:00","modified_gmt":"2018-01-31T00:00:00","slug":"rising-rates-cause-loan-demand-to-teeter","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/rising-rates-cause-loan-demand-to-teeter\/","title":{"rendered":"Rising Rates Cause Loan Demand to Teeter"},"content":{"rendered":"

\n<\/p>\n

\n \n

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

\"\"“Rates moved higher last week driven by concerns over a weaker U.S. dollar, signs of more robust growth and rising rates abroad, and moderately strong fourth-quarter domestic growth,” says MBA economist Joel Kan.<\/p>\n\n

Broken out, applications to refinance a home loan<\/a> dropped 3 percent during the week, but are still 3 percent higher than a year ago. Refinancing applications tend to be more sensitive to rate changes than home buying applications. Applications to buy a home also dropped 3 percent last week, but remain 10 percent higher than a year ago.<\/p>\n\n

The MBA reported that the average 30-year fixed-rate mortgage rate was 4.41 percent last week, the highest level since March. The 15-year fixed rate and the FHA rate were at their highest levels since 2011 and 2013, respectively.<\/p>\n\n

Source: \u201cRising Interest Rates Cause a 2.6% Pullback in Weekly Mortgage Applications,\u201d CNBC (Jan. 31, 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 were on the rise for the second consecutive week, causing some borrowers to show … Rising Rates Cause Loan Demand to Teeter<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7973,"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":[4751,1403,15239,12908,543,9488,408,1032,1295,41,818,479],"class_list":["post-7972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-chase","tag-home","tag-home-buying-guide","tag-interest-rates","tag-mortgage","tag-mortgage-bank","tag-mortgage-rate","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_012618.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1745,"url":"https:\/\/amazingproperty.com.ng\/blog\/how-rising-rates-will-impact-home-prices\/","url_meta":{"origin":7972,"position":0},"title":"How Rising Rates Will Impact Home Prices","author":"Amazing Property","date":"March 9, 2017","format":false,"excerpt":"Americans have, so far, stood resilient to rising mortgage rates, but a bigger impact will come soon, say Goldman Sachs economists.\u00a0 Read more: Mortgage Rates: Is It a 'Year Full of Surprises'? Housing\u2019s share of the economy rose above normal levels from November to January, despite mortgage rates surging 60\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":7972,"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":8055,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-in-volatile-week\/","url_meta":{"origin":7972,"position":2},"title":"Loan Demand Stalls in Volatile Week","author":"Amazing Property","date":"February 7, 2018","format":false,"excerpt":"The highest mortgage rates in four years caused a pause in mortgage applications from home buyers and refinancers during a time when the market generally starts picking up in preparation for the spring season. Any shakeout from dips in the stock market in recent days will become more evident in\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 020718.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_020718.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\/02\/Mortgage_Activity_020718.png?fit=600%2C315&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_020718.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":7972,"position":3},"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":[]},{"id":6659,"url":"https:\/\/amazingproperty.com.ng\/blog\/lower-rates-spark-higher-loan-demand\/","url_meta":{"origin":7972,"position":4},"title":"Lower Rates Spark Higher Loan Demand","author":"Amazing Property","date":"October 18, 2017","format":false,"excerpt":"A slight decrease in mortgage rates brought refinancers and home shoppers back to lenders last week. Total mortgage application volume for refinancings and home purchases rose 3.6 percent week-over-week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. However, the volume still is nearly 19 percent below 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":"Mortgage Activity 101317.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Mortgage_Activity_101317.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_101317.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_101317.png?fit=600%2C315&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8371,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-rates-offset-loan-demand\/","url_meta":{"origin":7972,"position":5},"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. 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