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New Home Purchase Apps Stagnant in December

Thursday, January 15, 2015

Applications for mortgages to purchase newly constructed homes dipped slightly in December, down 0.4 percent from the volume reported in November.  This estimate from the Mortgage Bankers Association, based on data from its Builder Application Survey, does not include adjustments to account for seasonal patterns.

Applications for conventional loans made up 70.8 percent of the total followed by FHA loans at 15.3 percent.  VA loans had a 12.7 percent share and RHS/USDA loans 1.2 percent.  The average size of loans for which applications were made increased to $311,398 from 306,975 in November.

 

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