{"id":5647,"date":"2013-11-14T13:46:05","date_gmt":"2013-11-14T13:46:05","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=5647"},"modified":"2013-11-14T13:46:05","modified_gmt":"2013-11-14T13:46:05","slug":"loan-demand-softening-month","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/loan-demand-softening-month\/","title":{"rendered":"Loan Demand Softening This Month"},"content":{"rendered":"

Loan Demand Softening This Month<\/h2>\n

 <\/p>\n

\"Loan<\/a>

Loan Demand Softening This Month. Image courtesy of Ambro \/ FreeDigitalPhotos.net<\/p><\/div>\n

Loan demand for home purchases and refinancings fell last week as mortgage rates edged up.<\/p>\n

The Mortgage Bankers Association reports that its mortgage application index — which reflects both refinancings and loans for home purchases — dropped 1.8 percent for the week ending Nov. 8. That follows a revised drop of 2.8 percent in the previous week.<\/p>\n

Refinancing applications dropped 2.3 percent last week, following a 3.9 percent decline in the Nov. 1 week.<\/p>\n

Applications for home purchases fell slightly at 0.5 percent last week, following a 0.7 percent revised drop the previous week. Originally, the MBA had reported purchase applications had fallen 5.2 percent last week.<\/p>\n

Renewed fears that the Federal Reserve will soon end its stimulus program are causing applications to fall, The Wall Street Journal <\/em>reports. The Fed is purchasing $85 billion per month in bonds, which has helped keep mortgage rates low. The Fed has signaled that it may start to taper that program off this year.<\/p>\n

The MBA reports the 30-year fixed-rate mortgage moved up 12 basis points to average 4.44 percent last week.<\/p>\n

Source: \u201cU.S. mortgage applications dip in latest week -MBA<\/a>,\u201d Reuters (Nov. 13, 2013)
\n<\/em><\/p>\n

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

Loan Demand Softening This Month   Loan demand for home purchases and refinancings fell last week as mortgage rates edged up. The Mortgage Bankers Association reports that its mortgage application index — which reflects both refinancings and loans for home purchases — dropped 1.8 percent for the week ending Nov. 8. That follows a revised … <\/p>\n

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