Mortgage applications for new home purchases decreased by 8 percent in October 2015 relative to the previous month, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data. This change includes no adjustment for typical seasonal patterns.

In a press release, Lynn Fisher, MBA’s vice president of research and economics attributed some of the decline to the expected seasonal slowdown and the rush of early mortgage applications in the week before the Oct. 3 implementation of the new TRID regulations.

“Despite the decrease, our estimate of new single-family housing sales for October was up more than 7 percent from a year ago,” Fisher said.

Conventional loans composed 67.2 percent of loan applications, FHA loans composed 19.2 percent, RHS/USDA loans composed 1.0 percent and VA loans composed 12.7 percent. The average loan size of new homes decreased from $324,884 in September to $320,881 in October.

The MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 495,000 units in October 2015, based on data from the BAS. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.

The seasonally adjusted estimate for October is a decrease of 9.7 percent from the September pace of 548,000 units. On an unadjusted basis, the MBA estimates that there were 39,000 new home sales in October 2015, a decrease of 7.1 percent from 42,000 new home sales in September.