New-home sales climb even as rates stay high
By: Jarrod Barry | Published: 2025-07-17 20:10:00 | Source: www.nationalmortgagenews.com
Homebuyers seemed to look past high mortgage rates in their efforts to purchase newly constructed homes last month, offering a bright note amid a broadly uneven housing market.
Mortgage applications for new homes increased 8.5% year-over-year in June, according to the Mortgage Banker Association. Applications were down 4% from May, but the report noted that is part of normal season trends. The numbers did not include seasonal adjustments.
The data is encouraging for the housing market, but Joel Kan, vice president and deputy chief economist at MBA, warned that there was still uncertainty in the months ahead.
“A cloudier economic outlook and elevated mortgage rates continues to weigh on potential buyers, while growing inventory, builder incentives, and lower prices have brought some buyers…
