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Applications for new home purchases jumped 8% in October

mortgage appHousingWire

The Mortgage Bankers Association Builder Application Survey data for October 2014 shows mortgage applications for new home purchases increased by 8% relative to the previous month.

This change does not include any adjustment for typical seasonal patterns.

By product type, conventional loans composed 68.2% of loan applications, FHA loans composed 16.2%, RHS/USDA loans composed 1.5% and VA loans composed 14.2%. The average loan size of new homes increased from $298,274 in September to $300,289 in October.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.