{"id":19269,"date":"2021-08-16T12:11:48","date_gmt":"2021-08-16T12:11:48","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19269"},"modified":"2021-08-16T12:11:48","modified_gmt":"2021-08-16T12:11:48","slug":"first-time-home-buyers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/first-time-home-buyers\/","title":{"rendered":"First-Time Home Buyers"},"content":{"rendered":"

First-Time Home Buyers<\/h1>\n
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Mortgage demand for home purchases reversed course last week, after falling for the past month, the Mortgage Bankers Association reported Wednesday.<\/p>\n

Mortgage applications to purchase a home increased 2% for the week and offered a signal that more first-time buyers may be emerging. Still, purchase applications are 18% lower than a year ago, the MBA said.<\/p>\n

Higher prices and the scarcity of housing inventories have been blamed on slowing many segments of the housing market.<\/p>\n

\u201cThe higher level of purchase activity last week was driven by more government purchase applications, including a 3.3% increase in FHA loans,\u201d said Joel Kan, an MBA economist. \u201cWith low for-sale inventory keeping home price appreciation in many markets at record highs, the jump in FHA purchase applications is potentially a sign that more first-time buyers are finding purchase options despite the high prices.\u201d<\/p>\n

Mortgage rates rose slightly last week but remain near historical lows and didn\u2019t prove to be a deterrent to home shoppers. The average contract interest rate for the 30-year fixed-rate mortgage with conforming loan balances rose to 2.99%, with points decreasing to 0.30, for loans with a 20% down payment, according to the MBA.<\/p>\n

\u201cHomeowners continue to respond to lower rates, with refinance activity climbing to the highest level since February 2021,\u201d Kan said. Applications to refinance rose 3% last week but remain 8% lower than a year ago.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Source:<\/div>\n
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\u201cWeekly Mortgage Demand Hints at Return of the First-Time Homebuyer<\/a>,\u201d CNBC (Aug. 11, 2021)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

First-Time Home Buyers Mortgage demand for home purchases reversed course last week, after falling for the past month, the Mortgage Bankers Association reported Wednesday. Mortgage applications to purchase a home increased 2% for the week and offered a signal that more first-time buyers may be emerging. Still, purchase applications are 18% lower than a year … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19269","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFirst-Time Home Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/first-time-home-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/first-time-home-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/first-time-home-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"First-Time Home Buyers\",\"datePublished\":\"2021-08-16T12:11:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/first-time-home-buyers\\\/\"},\"wordCount\":246,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/first-time-home-buyers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/first-time-home-buyers\\\/\",\"name\":\"First-Time Home Buyers - 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