January’s Mortgage Applications Up 40 Percent

Feb 18, 2020

Talk about an auspicious way to start a year: Mortgage applications for new home purchases during January were up by 40 percent from December and up by 35.3 percent from January 2019, according to new data from the Mortgage Bankers Association (MBA).

The MBA estimated new single-family home sales in January were at a record-setting seasonally-adjusted annual rate of 865,000 units, up 25.5 percent from the December pace of 689,000 units. On an unadjusted basis, the MBA estimated 66,000 new home sales in January, an increase of 37.5 percent from 48,000 new home sales in December.

The average loan size of new homes increased from $338,625 in December to $346,140 in January. Conventional loans accounted for 69.5 percent of loan applications, followed by FHA loans at 17.8 percent, VA loans at 12 percent and RHS/USDA loans at 0.8 percent.

“New home applications and sales activity surged in January,” said MBA Associate Vice President of Economic and Industry Forecasting Joel Kan. “This was a continuation of the end of 2019, which saw strong residential construction and increased purchase applications activity. Even with some global and domestic economic uncertainty, builders have ramped up production in recent months to meet increased homebuyer demand.”

About the author

Phil Hall

Link copied

Published

Feb 18, 2020

Analysis and Data

Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Tech

New AI-Run Mortgage Startup Builds Database Of 224,000 LOs

LenDb.ai is making LO records available to AI assistants, offering a potential new way for borrowers to find originators

A new mortgage technology startup is betting that borrowers will increasingly turn to artificial intelligence to find a loan originator, and it wants to make sure AI knows whom to recommend.LenDb.ai, launched Thursday by venture studio Draper Goren Blockchain, has assembled ...

Nov

Pasadena, CA

More from

Industry News

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

Industry News

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

Industry News

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

Industry News

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

Industry News

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

Industry News

Oct 09, 2026

Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Industry News

Oct 08, 2026

Popular