Mortgage applications for new-home purchases decreased 2.6% compared to a year ago, according to the Mortgage Bankers Association (MBA)’s Builder Application Survey data for October 2025.

Compared to the month prior, applications decreased by 1%. MBA noted that this change does not include any adjustment for typical seasonal patterns.

“Lower mortgage rates, ongoing usage of builder concessions, and growing levels of for-sale inventory drove an increase in new home sales for October. The annual sales pace, at 771,000 units, was the strongest in over a year,” said Joel Kan, MBA’s vice president and deputy chief economist.

“The increased details ⇒

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