Skip to main content

New Home Apps Up Around 11 Percent, According to MBA

Nov 14, 2013

MBA’s Builder Application Survey data for October 2013 shows that mortgage applications for new home purchases increased by 11 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 67.5 percent of loan applications, FHA loans composed 17.8 percent, RHS/USDA loans composed 0.9 percent and VA loans composed 13.8 percent. The average loan size of new homes increased from $289,650 in September to $294,480 in October. In Texas, Florida and California, the top three states by new home purchase application volume, mortgage applications for new home purchases increased over last month by 9.5 percent, 9.3 percent and 4.6 percent respectively. Utilizing information from the BAS, as well as assumptions regarding market coverage and other factors, MBA estimates that sales of new single-family homes were running at a seasonally adjusted annual rate of 509,000 in October 2013. On an unadjusted basis, the MBA estimates that there were 40,000 new home sales in October 2013.
About the author
Published
Nov 14, 2013
HUD Freezes Foreclosures On FHA Mortgages In Texas Flood Zone

Kerr County homeowners among hardest hit in disaster that’s claimed more than 100 lives

Jul 09, 2025
Fewer Canadians Hunt For U.S. Property

Largest component of international buyers in U.S. takes more than 25% hit

Jul 08, 2025
Fannie, Freddie Now Allow Lenders To Use VantageScore 4.0

Lenders will keep tri-merge credit scoring model; what this shift means

Fairway Independent Mortgage Corporation Announces Rebranding

Now Fairway Home Mortgage, company also donates $1M to support relief efforts in deadly Texas flooding

Jul 07, 2025
FHFA Chief Officially Calls For Investigation Of Federal Reserve Chairman Powell

Alleges Powell lied in testimony to Congress regarding Fed building renovations, says Fed Chair should be fired

BBB Will Impact Homeowners, Buyers

U.S. House and Senate must agree on certain tax, mortgage insurance premium deductions