Monday, 17 January 2022 | The Latest Buzz for the Appraisal Industry

Nearly 20 Percent Decrease in August New Home Purchase Mortgage Applications

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2021 shows mortgage applications for new home purchases decreased 17% compared from a year ago. Compared to July 2021, applications increased by 9%. This change does not include any adjustment for typical seasonal patterns.

“Mortgage applications to purchase new homes were down in August compared to 2020’s late summer surge, but both mortgage applications and MBA’s estimate of new home sales jumped

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