Accessible Version

The Effects of the Ability-to-Repay / Qualified Mortgage Rule on Mortgage Lending Accessible Data

Figure 1: Share of Applications with DTI>43 Percent

Date Conforming Non-conforming
2013q1 14.63% 6.64%
2013q2 14.75% 6.68%
2013q3 17.10% 9.24%
2013q4 16.56% 6.93%
2014q1 14.07% 3.96%
2014q2 14.64% 2.83%
2014q3 16.09% 2.62%
2014q4 16.37% 2.82%
2015q1 15.36% 3.53%
2015q2 14.98% 2.85%
2015q3 16.44% 3.40%
2015q4 17.98% 4.42%
2016q1 16.32% 3.42%
2016q2 15.52% 3.37%
2016q3 16.03% 3.77%
2016q4 18.04% 3.66%
2017q1 17.68% 3.43%
2017q2 17.32% 3.32%
2017q3 21.31% 4.83%
2017q4 25.30% 5.74%
2018q1 25.86% 5.39%
2018q2 25.73% 5.87%
2018q3 26.71% 7.05%

Source: Authors’ calculations from Optimal Blue locks data.

Return to text

Figure 2: Estimated Coefficients and 90% Confidence Intervals by DTI for 2014-2018

Conforming Loans

DTI Coefficient 10th Percentile 90th Percentile
20-29 0.0053861 0.0032544 0.0075179
30-39 0.015682 0.0131653 0.0181988
40-43 0.0218222 0.0189514 0.0246931
44-49 0.0309334 0.027636 0.0342309
50-60 0.0339736 0.0279648 0.0399823

Nonconforming Loans

DTI Coefficient 10th Percentile 90th Percentile
20-29 0.0020319 -0.0090601 0.013124
30-39 0.0156265 0.0046815 0.0265714
40-43 0.0351539 0.0218515 0.0484564
44-49 0.3053351 0.238137 0.3725333
50-60 0.2662957 0.1283728 0.4042187

Source: Authors’ calculations from Optimal Blue locks data.

Return to text

Last Update: November 15, 2018