Mortgage applications for new home purchases decreased by 14 percent in August compared with the previous month, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. This change did not include any adjustment for typical seasonal patterns.

The Builder Application Survey tracks application volume from mortgage subsidiaries of home builders across the country.

Conventional loans composed 67.8 percent of loan applications, FHA loans composed 17.3 percent, RHS/USDA loans composed 1 percent and VA loans composed 13.9 percent. The average loan size of new homes decreased to $284,392 in August from $288,382 in July.

MBA estimates that sales of new single-family homes were running at a seasonally adjusted annual rate of 424,000 in August.  On an unadjusted basis, the MBA estimates that there were 35,000 new home sales that month.