{"id":8055,"date":"2018-02-07T00:00:00","date_gmt":"2018-02-07T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-in-volatile-week\/"},"modified":"2018-02-07T00:00:00","modified_gmt":"2018-02-07T00:00:00","slug":"loan-demand-stalls-in-volatile-week","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-stalls-in-volatile-week\/","title":{"rendered":"Loan Demand Stalls in Volatile Week"},"content":{"rendered":"

\n<\/p>\n

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

\"\"The highest mortgage<\/a> 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 mortgage demand in next week\u2019s report from the Mortgage Bankers Association.<\/p>\n

\n

Read More<\/strong><\/p>\n

Don\u2019t Panic Over Stock Market Mayhem<\/p>\n

Will Rising Mortgage Rates Hurt Spring Sales?\u00a0<\/p>\n<\/blockquote>\n

Total mortgage application volume last week\u2014which reflects home purchases and refinancings\u2014barely budged at 0.7 percent higher on a seasonally adjusted basis compared to one week earlier, the MBA reported Wednesday. A hopeful sign for housing<\/a>, however: Volume is still 5 percent higher than the same week a year ago.<\/p>\n

Purchase applications were mostly unchanged last week while applications to refinance eked out a 1 percent gain during the week, the MBA reports.<\/p>\n

The average 30-year fixed-rate mortgage was 4.50 percent, the highest level since April 2014, the MBA reports.<\/p>\n

\u201cWhile the stock market leapt into the new year with strong gains, only to give it all back over the past few days, interest rates have generally moved higher, with the 10-year Treasury and 30-year mortgage rates about 30 basis points higher than where we started at the beginning of January,\u201d says Mike Fratantoni, the MBA\u2019s chief economist. \u201cA strong job market, accelerating wage growth, and expectations of faster rate hikes from the Fed all have played roles in pushing up longer-term rates.\u201d<\/p>\n

At the start of this week, mortgage rates did recede slightly after volatility in the stock market sent investors flocking back to the bond market, CNBC reports. Mortgage rates loosely follow 10-year Treasury yields.<\/p>\n

Source: \u201cMortgage Volume Stalls as Rates Rise to the Highest Level in Four Years,\u201d CNBC (Feb. 6, 2018)<\/em><\/p>\n<\/div>\n<\/div>\n

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

The highest mortgage rates in four years caused a pause in mortgage applications from home buyers … Loan Demand Stalls in Volatile Week<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8056,"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":[1403,15239,5214,12908,543,344,408,1032,1295,1292,41,818,479],"class_list":["post-8055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-chase","tag-from-home","tag-home","tag-home-buying-guide","tag-housing","tag-mortgage","tag-mortgage-bank","tag-mortgage-rate","tag-mortgage-rates","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\/02\/Mortgage_Activity_020718.png?fit=600%2C315&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2708,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-rates-ease-borrowers-not-pouncing\/","url_meta":{"origin":8055,"position":0},"title":"Mortgage Rates Ease, Borrowers Not Pouncing","author":"Amazing Property","date":"March 29, 2017","format":false,"excerpt":"A slight drop in mortgage rates last week did not lead to much mortgage activity. Total mortgage application volume\u2014for refinances and home purchases\u2014mostly stayed flat last week, dropping by a mere 0.8 percent compared to the previous week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. 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":4131,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-applications-to-buy-spring-ahead-5\/","url_meta":{"origin":8055,"position":1},"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":8371,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-rates-offset-loan-demand\/","url_meta":{"origin":8055,"position":2},"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":1940,"url":"https:\/\/amazingproperty.com.ng\/blog\/real-estate-this-spring-the-early-bird-wins\/","url_meta":{"origin":8055,"position":3},"title":"Real Estate This Spring: The Early Bird Wins","author":"Amazing Property","date":"March 14, 2017","format":false,"excerpt":"Entering real estate\u2019s traditionally busiest time of year, the housing market is being buoyed by a stronger economy and consumer confidence. Job creation is 30 percent stronger this year compared to a year ago, unemployment is near a 9-year low, and wages and incomes are growing at the largest levels\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":1145,"url":"https:\/\/amazingproperty.com.ng\/blog\/loan-demand-sluggish-heading-into-spring\/","url_meta":{"origin":8055,"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":3871,"url":"https:\/\/amazingproperty.com.ng\/blog\/lower-mortgage-rates-boost-loan-demand\/","url_meta":{"origin":8055,"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\/8055","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=8055"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/8056"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=8055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=8055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=8055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}