The Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) data for May 2021 shows that applications for new home purchases decreased 5.9 percent compared from a year ago.
Compared to April 2021, applications decreased by 9 percent.
“Mortgage applications to purchase a new home decreased in May for the second straight month, while the average loan size, at $384,000, increased for the fourth consecutive month and reached a new survey high,” says Joel Kan,