Builders see jump in July mortgage loan apps

Homebuilders’ mortgage lending subsidiaries saw a 14 percent jump in loan applications from June to July, and average loan size for new-home purchases was up $5,271, to $288,382, the Mortgage Bankers Association said in releasing the results of its Builder Application Survey. The figures are not seasonally adjusted, and not to be confused with the MBA’s weekly mortgage applications survey. Source: mbaa.org.