Journal Article

The mortgage market in 2010: highlights from the data reported under the Home Mortgage Disclosure Act


Abstract: This article presents a number of key findings from a review of the data that mortgage lending institutions reported for 2010 under the Home Mortgage Disclosure Act (HMDA). The article documents home-purchase lending activity reflected in the HMDA data and discusses how the ending of the government's first-time homebuyer tax credit program during the year may have affected such lending. It also documents refinance lending activity and explores factors that may have muted such lending during 2010. In addition, the article closely examines patterns of lending across different racial or ethnic and income groups and across areas that differ in terms of housing market distress. Finally, it describes the federal government's role in the mortgage market over the past several years and investigates how upcoming changes in loan limits might affect this role and the mortgage market going forward.

Keywords: Home Mortgage Disclosure Act; Mortgages;

https://doi.org/10.17016/bulletin.2011.97-6

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Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: Federal Reserve Bulletin

Publication Date: 2011

Volume: 97

Issue: 6