TALKING POINTS …
- According to the February Mortgage Bankers Association Builder Application Survey, new home purchases surged 24 percent in February, kicking off the spring buying season.
- Conventional loans composed 67.7 percent of loan applications, FHA loans composed 18.7 percent, RHS/USDA loans composed 0.8 percent, and VA loans composed 12.8 percent. These levels are not too different from the month prior.
- The average loan size of new homes increased from $325,806 in January to $328,370 in February.
