Mortgage Applications for New Home Purchases Up 16 Percent – NMP Skip to main content

Mortgage Applications for New Home Purchases Up 16 Percent

Phil Hall
Mar 14, 2017
Mortgage applications for new home purchases increased from January to February by 16 percent, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS). On a year-over-year measurement, applications were up 2.2 percent

Mortgage applications for new home purchases increased from January to February by 16 percent, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS). On a year-over-year measurement, applications were up 2.2 percent.
 
The MBA estimated new single-family home sales were at a seasonally adjusted annual rate of 586,000 units last month, a 4.3 percent increase from the January pace of 562,000 units. On an unadjusted basis, the MBA estimated that there were 51,000 new home sales in February, a 15.9 percent upswing from 44,000 new home sales in January. Conventional loans accounted for 66.5 percent of loan applications, while FHA loans composed 18.6 percent of total applications last month.
 
“The Builder Application Index posted a modest annual gain in February 2017,” said Lynn Fisher, MBA’s vice president of research and economics. “The bar was high as last February was a particularly strong month for applications, as was March 2016. The surprisingly strong employment numbers for the beginning of 2017 suggest that demand for new homes should continue to grow this year. Additionally, based on the current reading, we expect seasonally adjusted new home sales to be up by about eight percent in February compared to a year ago.”
Published
Mar 14, 2017
Revolution Mortgage Opens Second Mortgage Branch In Cincinnati

Columbus, OH-based Revolution Mortgage announced the opening of its second branch in Cincinnati and 14th branch in Ohio.

Industry News
Dec 06, 2021
Nations Lending Teams Up With NBA Legend Dennis Rodman On Integrated Brand Campaign

Nations Lending, a full-service national mortgage lender, announced the launch of its first integrated brand campaign starring NBA Champion and All-Star Dennis Rodman.

Sales and Marketing
Dec 06, 2021
Black Couple 'Erased Themselves' From Home, Receives Higher Appraisal

Paul Austin and his wife, Tenisha Tate-Austin are looking to take legal action after receiving a higher appraisal on their home only after “white-washing” their home by removing any trace of themselves.

Industry News
Dec 06, 2021
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021
Angel Oak Home Loans Opens 3 New Branches

Continues expansion in Western U.S. with new branches in California, Nevada & Utah.

Industry News
Dec 02, 2021
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021