Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
28,899
# of Forum Posts
 

Send Article via Email

REGISTERED USERS (Free!):
Can forward to 6 email addresses at a time. Register or Login

Registered users also get the additional advantage of Co-branded Emails and Landing Pages. Learn more about these features.

Your Name: 
Your Email: 
I want to forward this to
(Enter Email Address Below) :
Include a Personal Message (optional)

Please add 7 and 2 and type the answer here:
Leave this field blank.
Email Preview Below:
This feature is now 100% free. Learn More About Co-branded Email and our other Co-branded Services.
 
This email was sent to you by:
Harry Chriest |
Mortgage News Daily

Message:   YOUR MESSAGE HERE
Email alerts, such as this one, are a free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please register to join our community.
New Home Applications Up in March
Posted to: MND NewsWire
Tuesday, April 15, 2014 10:09 AM

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

The Mortgage Bankers Association (MBA) estimated today that there was a 15 percent increase in applications for new home purchases in March compared to February even as the annual pace of new home sales eased. MBA's Builder Application Survey (BAS) which tracks mortgage application volume from mortgage subsidiaries of home builders, indicated that sales of new single-family homes were running at a seasonally adjusted annual rate of 479,000 units in March, a decrease of 10.1 percent from the February estimate of 533,000 units.

On a non-seasonally adjusted basis MBA estimates sales for the month at 46,000 units.  This is an increase of 7.0 percent from the estimated 43,000 sales reported in February.

Conventional loans made up 68.3 percent of new home purchase applications and FHA-backed mortgages accounted for 17.2 percent.  VA loans comprised 12.9 percent and 1.6 percent were Rural Housing Services/USDA loans.  The average size of a new home loan increased from $295,008 in February to $296,428 in March.

MBA derives its sales figures from mortgage application information gathered through the BAS and assumptions about market coverage and other factors.   Official new home sales estimates are conducted by the Census Bureau on a monthly basis.  In that data, new home sales are recorded at contract signing, which is typically coincident with the mortgage application.  The MBA estimates the coverage for the BAS is almost 30 percent of the new home sales market.




More from MND:

 

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.

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

 

More From MND

Mortgage Rates:
  • 30 Yr FRM 4.16%
  • |
  • 15 Yr FRM 3.29%
  • |
  • Jumbo 30 Year Fixed 4.00%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (-0-02)
  • |
  • 30YR FNMA 5.0 110-09 (-0-01)
  • |
  • 30YR FNMA 5.5 111-04 (-0-02)
Recent Housing Data:
  • Mortgage Apps 2.43%
  • |
  • Refinance Index 4.14%
  • |
  • FHFA Home Price Index 0.67%