Skip to main content

Apps for New Home Purchases Down by 18 Percent

NationalMortgageProfessional.com
Dec 12, 2013

MBA’s Builder Application Survey data for November 2013 shows mortgage applications for new home purchases decreased by 18 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 66.2 percent of loan applications, FHA loans composed 19.9 percent, RHS/USDA loans composed 1.1 percent and VA loans composed 12.9 percent. The average loan size of new homes increased from $294,480 in October to $295,523 in November. 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 455,000 in November 2013. On an unadjusted basis, the MBA estimates that there were 32,000 new home sales in November 2013.
Published
Dec 12, 2013
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023