General World News

Mortgage applications for new homes are 9% higher than a year ago

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 ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com