By Jann Swanson
Posted To: MND NewsWire
Applications for mortgages to purchase newly constructed homes jumped significantly in February the Mortgage Bankers Association (MBA) said today. Data from MBA’s Builder Application Survey, which is not seasonally adjusted, was up 12 percent compared to January numbers. “An increase in mortgage applications to builders in February over strong January numbers bodes well for new home purchases this year,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “Applications in both January and February were up on a year over year basis.” Based on the application data, assumptions regarding market coverage, and other factors MBA estimates that sales of newly constructed single-family homes are running at a seasonally adjusted annual rate of 487,000 units . On an unadjusted basis MBA…(read more)
Via:: January, February Data Point to Strong 2015 New Home Sales
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