New Home Financing Applications Continue Strong

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Posted To: MND NewsWire

It's all relative. The Mortgage Bankers Association (MBA) said that applications for the purchase of newly constructed homes rose a scant 0.3 percent in April , on its face sort of a disappointing number for the heart of the "spring market." However, that increase was on top of a 17 percent surge in March, indicating that the new home sales continue to be strong. MBA's new home numbers are based on mortgage application data gathered through its Builder Application Survey (BAS) of mortgage subsidiaries of new home builders. It is not adjusted for typical seasonal patterns. Based on data from the BAS the MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 487,000 units in April compared to a seasonally adjusted rate of 510,000 units in March, a decrease...(read more)

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Source: http://www.mortgagenewsdaily.com/05152015_mba_new_home_sales.asp

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