The Mortgage Bankers Association‘s (MBA) Builder Application Survey (BAS) data for March 2025 revealed that mortgage applications for new home purchases increased 5.5% compared to a year ago.

Compared to last month, applications increased by 14%. By product type, conventional loans composed 49.0% of loan applications, FHA loans composed 37.0%, RHS/USDA loans composed 0.9% and VA loans composed 13%.

The average loan size for new homes decreased from $397,516 in February to $381,921 in March.

“Applications for new home purchases increased in March, consistent with typical seasonal patterns and supported by mortgage rates that had been details ⇒

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