Mortgage Market Rebounds: 3 Charts
Every year, researchers look forward to the release of the most extensive publicly available mortgage market data: the Home Mortgage Disclosure Act (HMDA) data. This rich dataset has been instrumental in revealing critical developments in mortgage lending across the nation.
The 2017 HMDA release shows a housing market that is bouncing back, with steadily increasing purchase mortgage originations, modest increases in mortgages made to minorities, and modest decreases in denial rates for lower–credit profile borrowers. At the same time, recoveries tend to be uneven, particularly as access and affordability continue to challenge potential homeowners across the country.
Three tools we created provide a glimpse into how the mortgage market has evolved since the crisis: our HMDA boom and bust map, “real denial rates” analysis, and Housing Credit Availability Index (HCAI). These tools reveal three important trends in the current mortgage market.
Read more at Urban.org.