Tagged: Builder Application Survey

The national median mortgage payment dropped to $1,506 from January

May's mortgage applications for new home purchases increased 13.8% from last year.

Applications, however, fell 5% from May, due in part to rising mortgage rates.

Applications in April fell 11% from March, but were up from a year earlier for the third straight month.

Month-over-month, purchase applications rebounded in August after four straight monthly declines.