AgentIndustry News

MBA: Loan applications for new homes sluggish this summer

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015 at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. After reporting a decrease in new-home loan applications last month, the Mortgage Bankers Association (MBA) said in its release of the monthly Builder Application Survey that mortgage applications for newly constructed homes increased by 1 percent. The association previously reported on its monthly survey that applications for new homes decreased by 9 percent from May to April, and it attributed the drop to buyers’ habit to apply for new homes in time for the new school year. This month, the news is slightly more positive, with the MBA reporting that new-home sales increased 8 percent from May on a seasonally adjusted annual basis. But on an unadjusted basis, there were 45,000 new-home sales in...