MBA Builder Index Edges Down 1% in September

Mortgage applications received by homebuilders with mortgage lending subsidiaries fell by 1% in September from the prior month, according to the Mortgage Bankers Association.

“In Texas, Florida and California, the top three states by new home purchase application volume, mortgage applications for new home purchases increased over last month by 5.6%, 1.6% and 15.5%, respectively,” the MBA said.

On a year-over-year basis, purchase mortgage applications increased by 12.4% in Texas and 10.7% in Florida, and fell 5.1% in California.

Overall, the new MBA builder application survey shows that applications are up 5.1% from September 2012.