General World News

Mortgage demand for newly built homes jumped 26.1% in June


Months of high mortgage rates and low existing inventory led to another annual increase in new home purchases in June. Mortgage applications for new home purchases jumped 26.1% in June from the same period last year, according to the Mortgage Bankers Association builder application survey. Compared with the prior month, applications dropped by 5%. 

MBA estimates that about 687,000 new single-family homes were sold in June at a seasonally adjusted annual rate. It’s a decline of 9% from the May pace of 755,000 units. On an unadjusted basis, MBA estimates that there were details ⇒

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