With homeowners who have low mortgage rates sitting on the sidelines, mortgage applications for newly built homes are surging. Mortgage applications for new home purchases rose 22.2% in December compared to a year ago, according to Mortgage Bankers Association (MBA) data from December. Applications decreased by 4% from November. The change doesn't include adjustments for typical seasonal patterns. "The low level of existing homes for sale continues to divert prospective buyers to newly built hom
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