MBA sees strong increase in new home sales

new-home-sales-2-300x207By Jann Swanson | Mortgage News Daily

The Mortgage Bankers Association’s (MBA’s) early estimate of new home sales for January projects a 14 percent increase compared to December. MBA bases its number on mortgage application data from its Builder Application Survey (BAS) conducted among the mortgage subsidiaries of home builders nationwide. MBA combines that data with other market information to derive the estimate which does not include any adjustments for seasonal patterns.

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