Strong March New Home Sales -MBA

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Posted To: MND NewsWire

The Mortgage Bankers Association’s (MBA’s) most recent regular report on mortgage application volume released on Wednesday indicated a sudden pick-up in purchase mortgage applications last week. Today’s monthly new homes report from the Association adds further to that news. MBA’s data, gathered through its Builder Application Survey (BAS) shows that applications for mortgages to purchase newly constructed homes jumped by 17 percent in March compared to the previous month. The report does not include any adjustment for seasonal patterns. Lynn Fisher, MBA’s Vice President of Research and Economics, said, “Rising prices for existing homes and a strong job market are making the math work for new construction. In March, the Builder Application Index reached its highest level since its inception…(read more)

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