Builder Confidence Up, New-Home Mortgage Applications Down

Homebuilder sentiment may be rising, but mortgage applications for new homes don’t currently support that hope. Single-family housing starts have not seen strong gains and entry-level, mortgage-dependent homebuyers are clearly struggling with weakening affordability. Mortgage applications for new homes fell 4.3 percent in April 2017 compared to April 2016, according to the Mortgage Bankers Association. That’s the first annual drop this year, the MBA says.

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