Mortgage applications for new-home purchases rose 1% during June compared with the previous month as housing prices continue to recover, according to the Mortgage Bankers Association.
It also reported new-home sales increased 8.1% from May on a seasonally adjusted annual basis.
The MBA used data from its Builder Application Survey, which tracks application volume from mortgage subsidiaries of homebuilders across the country.
Conventional loans made up the majority, 67.2%, of loan applications. Federal Housing Administration-insured loans at 19.6%, Veterans Affairs loans 12.2% and U.S. Department of Agriculture Rural Development loans composed 1%.
The average loan size for new homes rose to $321,678 in June from $320,744 in the previous month.
The MBA estimated new single-family home sales were running at a seasonally adjusted annual rate of 496,000 units in June 2015.
