The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2021 shows mortgage applications for new home purchases decreased 7.1% compared from a year ago. Compared to November 2021, applications decreased by 5%. This change does not include any adjustment for typical seasonal patterns.
“Applications to buy a new home slowed in December, while the activity remained tilted to higher-priced homes,” comments Joel Kan, MBA’s associate vice president of economic and industry