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New Home Purchase Apps Stagnant in December

Applications for mortgages to purchase newly constructed
homes dipped slightly in December, down 0.4 percent from the volume reported in
November.  This estimate from the
Mortgage Bankers Association, based on data from its Builder Application
Survey, does not include adjustments to account for seasonal patterns.

Applications for conventional loans made up 70.8 percent of
the total followed by FHA loans at 15.3 percent.  VA loans had a 12.7 percent share and
RHS/USDA loans 1.2 percent.  The average
size of loans for which applications were made increased to $311,398 from
306,975 in November.

 

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