BY JANN SWANSON
The Mortgage Bankers Association (MBA) reports a drop in applications for the purchase of newly constructed homes last month. Those applications fell by 3.9 percent compared to August although they remained 8.2 percent higher than they were the previous September. The change does not reflect any seasonal adjustment. The information comes from MBA’s Builder Application Survey (BAS) which is conducted among the mortgage subsidiaries of new home builders.