person carrying a bag of money up stairs as money falls out of a hole in the bag Source: Shutterstock.

The Mortgage Bankers Association on Tuesday reported lower mortgage applications for new homes in June, and forecast that commercial real estate lending would fall in the second half of 2022.

The MBA’s Builder Application Survey for June showed mortgage applications for new home purchases fell 12% compared to a year ago. Compared to May 2022, applications decreased by 10%. This change did not include any adjustment for typical seasonal patterns.

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Jim DuPlessis

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