Tag Archives: RHS loans

According to Joel Kan, MBA’s VP and Deputy Chief Economist, “Mortgage applications for new homes showed a 22% annual gain in December—the 11th consecutive year-over-year increase in applications.”

As record-high mortgage rates continue to hinder potential homebuyers nationwide, new home purchase activity weakened in September, according to the MBA's Builder Application Survey.

Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.

“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

“Applications for purchase loans were up on a monthly basis and increased annually for the fourth consecutive month," said Joel Kan, MBA’s VP and Deputy Chief Economist. "Our estimate of new home sales also jumped in May, up 16% to the fastest pace of new home sales in 15 months.”

Mortgage applications for new home purchases decreased 25.2% in December compared to a year ago, according to a new report from the MBA Builder Application Survey. The data shows the number of applications and estimated sales are more than 20% behind last year's pace.