New Home Mortgage Applications Down in September – NMP Skip to main content

New Home Mortgage Applications Down in September

Oct 12, 2017
Mortgage applications for new home purchases took a 7.5 percent year-over-year tumble in September

Mortgage applications for new home purchases took a 7.5 percent year-over-year tumble in September, according to the Mortgage Bankers Association’s (MBA) Builder Applications Survey. From August, applications were down by 20 percent.
 
MBA Vice President of Research and Economics Lynn Fisher blamed Mother Nature and her unruly twins Harvey and Irma for the negative data.
 
"Applications for new home purchases were down year over year in large part due the impacts of hurricane activity," Fisher said. "In particular monthly applications fell by 37 percent in Florida and 11 percent in Texas, which account for a large share of the applications in the survey."
 
The MBA estimated new single-family home sales at a seasonally adjusted annual rate of 571,000 units in September, a 12.8 percent drop from August (655,000 units). On an unadjusted basis, MBA estimated 42,000 new home sales in September, a 19.2 percent decline from 52,000 new home sales in August. The average loan size of new homes decreased from $334,940 in August to $334,722 in September.  
 
Conventional loans composed 72.3 percent of loan applications last month, while FHA loans composed 13.9 percent, VA loans composed 12.7 percent and RHS/USDA loans composed one percent.

 
About the author
Published
Oct 12, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026