New Home Purchase Mortgage Apps Rise 33 Percent in August – NMP Skip to main content

New Home Purchase Mortgage Apps Rise 33 Percent in August

Sep 17, 2019
Photo credit: Getty Images/Maudib

Builder Application Survey (BAS) data from the Mortgage Bankers Association (MBA) for August 2019 has shown that mortgage apps for new home purchases increased 33 percent compared to a year ago. Compared to July 2019, applications decreased by 0.2 percent. This change does not include any adjustment for typical seasonal patterns.
 
MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 785,000 units in August 2019, based on data from the BAS. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.
 
“New home purchase activity was robust in August, as both mortgage applications and estimated home sales increased from a year ago,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Recent increases in new residential housing permits and housing starts, lower mortgage rates, and a still-strong job market all bode well for the new home sales outlook."
 
The seasonally adjusted estimate for August is an increase of 4.1 percent from the July pace of 754,000 units. On an unadjusted basis, MBA estimates that there were 61,000 new home sales in August 2019, a decrease of 3.2 percent from 63,000 new home sales in July.
 
By product type, conventional loans composed 69.3 percent of loan applications, FHA loans composed 18.1 percent, RHS/USDA loans composed 0.8 percent and VA loans composed 11.8 percent. The average loan size of new homes increased from $325,457 in July to $332,497 in August.

 
About the author
Published
Sep 17, 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