This research compares mortgage lending patterns in low- and moderate-income neighborhoods and among low- and moderate-income borrowers with their middle- and upper-income counterparts. The study period covers the lead-up to the housing market peak and its subsequent collapse by presenting data from 2004 to 2010. The analysis explores originations and rejection rates for home loans by purpose (e.g., purchase, refinance), type (e.g., conventional, Federal Housing Administration), high-cost lending, oversight by federal regulatory agencies, and lender size.
Mortgage lending statistics provided here are calculated by the Federal Reserve Bank of Philadelphia’s Community Development Studies and Education (CDS&E) Department using data collected under the Home Mortgage Disclosure Act. The following links provide access to charts summarizing mortgage lending trends within the Third Federal Reserve District and the U.S., as well as supporting documentation and a map of the Third District’s borders.
Please contact Thomas Hylands (215-574-6461) with any questions.