Home

20 Percent Surge in Q1 New Home Purchase Apps

Sales of new homes appeared to have surged in March.  According to the Mortgage Bankers Association
(MBA) mortgage applications for new home purchases were up 17 percent from
February.  The data is not seasonally
adjusted. 

Lynn
Fisher, MBA’s Vice President of Research and Economics said, “Overall, applications for
new home purchases during the first quarter of 2015 increased 20 percent
relative to the first quarter of last year. Continued strength in builder
applications raises the likelihood that housing starts will be strong over the
next few months. Although the March employment report showed a smaller net gain
in jobs, job openings are up, wages are beginning to increase more robustly,
and mortgage rates remain low, all of which contribute to stronger housing
markets.”

 

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Comments are closed.