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MBA Sees Further Drop in New Home Sales

Friday, November 13, 2015

After last months' disappointing Census Bureau report on September new home sales - down 11.5 percent from a solid August - one might hope for an October rebound.  However information from the Mortgage Bankers Association's Builder Application Survey doesn't offer much encouragement in that regard.

The survey indicates that mortgage applications for new home purchases decreased by 8 percent in October relative to the previous month. This change does not include any adjustment for typical seasonal patterns.

 

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