Mortgage Applications on New Home Purchases Up 31 Percent – NMP Skip to main content

Mortgage Applications on New Home Purchases Up 31 Percent

Aug 15, 2019
An uptick in refinancing helped to boost mortgage applications during the week ending Sept. 27, according to new data from the Mortgage Bankers Association

Mortgage applications for new home purchases in July soared by 31.2 percent from one year earlier, according to the latest Builder Application Survey released by the Mortgage Bankers Association (MBA). Compared to the previous month, July’s applications increased by 11 percent.
 
The MBA estimated new single-family home sales were running at a seasonally adjusted annual rate of 754,000 units in July, an increase of 16.7 percent from the June level of 646,000 units. On an unadjusted basis, MBA estimated that there were 63,000 new home sales in July, an increase of 8.6 percent from 58,000 new home sales in June. The average loan size of new homes decreased from $329,593 in June to $325,457 in July, with conventional loans accounting for 69.1 percent of loan applications and FHA loans commanding an 18.1 percent share.
 
“July’s strong new home sales increase on a monthly and annual basis was driven by the ongoing decline in mortgage rates, combined with steady housing demand and a still-healthy job market,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “The average loan size decreased last month, likely influenced by the increase in the first-time homebuyer share, as these buyers are likely to choose lower-priced, entry-level homes. MBA estimates that the pace of new home sales in July increased over 16 percent.”

 
About the author
Published
Aug 15, 2019
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