The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for July 2021 shows mortgage applications for new home purchases decreased 27.4% compared from a year ago. Compared to June 2021, applications decreased by 4%. This change does not include any adjustment for typical seasonal patterns.
“Mortgage applications for new home purchases declined in July – as is typical most summers when home sales start to moderate – but did come in at the