MBA: Demand for VA loans continues to trend higher

The latest Mortgage Bankers Association’s chart of the week shows that the Veterans Administration’s share of all purchase loan applications has steadily increased since March this year.

Mortgage Bankers Association’s chart of the week
Mortgage Bankers Association’s chart of the week

(Source: Mortgage Bankers Association)
Beginning in March, the VA’s share of purchase applications increased from 10% to around 12%, maintaining that share on average ever since.
Additionally, average loan size for VA purchase home loan applications for 2015 was $247,000 compared to an average of $232,000 in 2014.
To put this in perspective, the average originated VA purchase loan size in 2014 was $238,000 using Home Mortgage Disclosure Act data.