MBA Chart of the Week: VA Purchase Loan Share, Loan Size

This week marks the one-year anniversary of the MBA Chart of the Week.   

In honor of Veteran’s Day and the manner in which we kicked off our chart series last year, this week chart shows the increase in Veterans Administration share of all purchase applications during 2015, using data from MBA’s Weekly Application Survey.   

Beginning in March, the VA share of purchase applications climbed from 10 percent to nearly 12 percent. VA has continued to maintain that share on average ever since.  

Average loan size for VA purchase home loan applications in the Weekly Applications Survey for 2015 was $247,000, compared to an average of $232,000 in 2014. By way of comparison, the average originated VA purchase loan size in 2014 was $238,000 using Home Mortgage Disclosure Act data.  

To view the Chart of the Week, click https://www.mba.org/news-research-and-resources/forecasts-data-and-reports/forecasts-and-commentary/chart-of-the-week.  

(Lynn Fisher is vice president of research and economics with the Mortgage Bankers Association; she can be reached at lfisher@mba.org. Joel Kan associate vice president of economic forecasting with MBA; he can be reached at jkan@mortgagebankers.org.)