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MBA predicts new home sales surge in July

from Mortgage News Daily

MBA predicts new home sales surge in July Mortgage News Daily The Mortgage Bankers Association is predicting another strong month for new home sales. The association says its Builder Application Survey data for July 2020 shows mortgage applications for new home purchases increased 39% compared to a year ago and is up 1% compared to June. This would be the second consecutive month of annual increases. "New home sales activity continued to rebound in July after a pandemic induced low point in April 2020," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. READ MORE

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