Friday, 30 September 2022 | The Latest Buzz for the Appraisal Industry

MBA: New Home Purchase Applications Dropped Over 10 Percent in April 2022

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for April 2022 shows mortgage applications for new home purchases decreased 10.6% compared to a year ago. Compared to March 2022, applications decreased by 14%. This change does not include any adjustment for typical seasonal patterns.

“New home purchase activity declined on a monthly and annual basis in April, as the spike in mortgage rates cooled demand, and homebuilders continued to grapple with rising

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