The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for February 2022 shows mortgage applications for new home purchases decreased 3.9% compared from a year ago. Compared to January 2022, applications decreased by 1%. This change does not include any adjustment for typical seasonal patterns.
“New home purchase activity slowed in February, as for-sale inventories remained tight, and mortgage rates increased to their highest levels since 2019,” states Joel Kan, MBA’s associate vice
