As record-high mortgage rates continue to hinder potential homebuyers nationwide, new home purchase activity weakened in September, according to the MBA's Builder Application Survey.
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Home Purchase Mortgage Applications Remained Resilient in July
“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
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