The latest HMDA data is now available for free in our Lending Activity tab. The 2011 data clearly shows the ongoing trauma in the housing and mortgage markets. In fact, the number of loans in 2011 represented the lowest volume of lending since 1995! And despite an increase in refinance loans at the end of 2011 due to interest rate decreases, refinance loans dropped more than home purchase loans in 2011. The high incidence of FHA lending in the second half of 2008, 2009 and 2010 that picked up as lending standards grew increasingly strict (after the housing bubble burst) decreased in 2011, as well. FHA lending continues, however, to make up around 50% of the market, despite that decrease.
The 2011 HMDA data is still being shown at the Census 2000 boundary vintage, but the 2012 data that will come out in November of 2013 will be available at the updated boundaries since lenders will be reporting the loans they’re making using the FFIEC’s updated geocoding service.
For those who wish to know more about the 2011 HMDA findings, please see the published article in the Federal Reserve Bulletin, The Mortgage Market in 2011: Highlights from the Data Reported under the Home Mortgage Disclosure Act.