
Joel Kan, MBA’s vice president and deputy chief economist, highlighted a rise in government loan activity as a key factor behind new-home mortgage growth.
“Applications for newly built homes increased 9 percent compared to a year ago in December, while the FHA share of applications reached its second highest level in the survey’s history at 29 percent,” Kan said in a statement. “First-time homebuyers remained active in the new home segment, as existing inventory for
Purchase mortgage applications for new homes rose 8.9% year over year in December 2024, according to a report released Friday by the Mortgage Bankers Association (MBA). Application volume decreased by 3% compared to November.
MBA’s Builder Application Survey for December monitors application volumes across mortgage subsidiaries of U.S. homebuilders. New-home sales estimates are pulled from U.S. Census Bureau data.
December’s data represents the second consecutive month of annualized growth for new-home purchase mortgage. In November 2024, application volume rose 7.2% year over year, although it still declined 12% from October. MBA notes that these data points do not details ⇒
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