{"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":"

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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_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_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}},"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,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7972","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=7972"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7972\/revisions"}],"predecessor-version":[{"id":90591,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7972\/revisions\/90591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7973"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}