New home mortgage application saw an increase in USA.

New home mortgage application saw an increase in USA.

RM | June 17, 2017 | Saturday


USA: According to a data by Mortgage bankers associations, mortgage application for new homes increased by 15% in May 2017 as compared to May 2016. As compared to April 2017, there was an increase of 4% in the application rate. After a dull month of April, mortgage application has been steady in the month of May. Lynn Fisher, vice president of research and economics has said that in the past two years, March has witnessed the peak of Mortgage applications and there is going to be more growth expected this year.

Fisher has also said that new home demand is increasing and at the same time housing prices are also increasing. A report from Mortgage bankers association says that new family home sales were going at a pace of 6,05000 units and there was an increase of 8.6% from the month of April in the sale of housing units.


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