The 2009 HMDA data: the mortgage market in a time of low interest rates and economic distress

Robert B. Avery, Neil Bhutta, Kenneth Brevoort and Glenn B. Canner

Federal Reserve Bulletin, 2010, vol. 96, issue December, A39-77

Abstract: The data that mortgage lending institutions reported for 2009 under the Home Mortgage Disclosure Act of 1975 (HMDA) reflect the ongoing difficulties in the housing and mortgage markets. This article presents a number of key findings from a review of the 2009 HMDA data. In particular, it documents the wave of refinancing but discusses factors that may have muted such opportunities, explores patterns of lending across groups and areas with high rates of foreclosure, highlights the federal government’s greatly expanded role in the mortgage market, and examines how the interest rate environment and changes to the rules that govern the designation of loans as higher priced under HMDA affected the incidence of reported higher-priced lending in 2009 relative to earlier years.

Keywords: Mortgages; Home Mortgage Disclosure Act (search for similar items in EconPapers)
JEL-codes: G21 G28 R31 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://www.federalreserve.gov/pubs/bulletin/2010/pdf/2009_HMDA_final.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgrb:y:2010:i:december:p:a39-77:n:v.96

Ordering information: This journal article can be ordered from

DOI: 10.17016/bulletin.2010.96-12

Access Statistics for this article

More articles in Federal Reserve Bulletin from Board of Governors of the Federal Reserve System (U.S.) Contact information at EDIRC.
Bibliographic data for series maintained by Ryan Wolfslayer ; Keisha Fournillier ().