New Home Purchase Apps Rise 4% YoY

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for April 2023 shows mortgage applications for new home purchases increased 4.1% year-over-year, and compared to March 2023’s totals, applications decreased by 11%. “Purchase applications for newly constructed homes declined in April but were up 4% compared to a year ago,” said Joel Kan, MBA’s…