Residential Mortgage Lending in 2016: Evidence from the Home Mortgage Disclosure Act Data - November 2017
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Figure 1. Number of home-purchase and refinance mortgage originations reported under the Home Mortgage Disclosure Act, 1994-2016
Millions of loans| Year | Home purchase | Refinance |
|---|---|---|
| 1994 | 3.18 | 2.21 |
| 1995 | 3.11 | 1.44 |
| 1996 | 3.49 | 2.33 |
| 1997 | 3.59 | 2.54 |
| 1998 | 4.20 | 6.31 |
| 1999 | 4.45 | 4.05 |
| 2000 | 4.37 | 2.24 |
| 2001 | 4.48 | 7.36 |
| 2002 | 4.57 | 9.59 |
| 2003 | 4.92 | 14.10 |
| 2004 | 4.79 | 6.50 |
| 2005 | 4.96 | 5.77 |
| 2006 | 4.43 | 4.47 |
| 2007 | 3.45 | 3.66 |
| 2008 | 2.63 | 2.93 |
| 2009 | 2.45 | 5.30 |
| 2010 | 2.22 | 4.52 |
| 2011 | 2.07 | 3.86 |
| 2012 | 2.34 | 5.93 |
| 2013 | 2.70 | 4.39 |
| 2014 | 2.81 | 2.00 |
| 2015 | 3.20 | 2.84 |
| 2016 | 3.54 | 3.37 |
Note:The data are annual. Mortgage originations for one- to four-family owner-occupied properties, with junior-lien loans excluded in 2004 and later.
Figure 2. Nonconventional share of home-purchase mortgage originations, 1994-2016
Percent| Year | Conventional | FHA | VA | FSA/RHS |
|---|---|---|---|---|
| 1994 | 77.49 | 15.74 | 6.56 | 0.21 |
| 1995 | 76.57 | 16.65 | 6.47 | 0.31 |
| 1996 | 75.44 | 18.21 | 5.90 | 0.46 |
| 1997 | 74.84 | 19.26 | 5.38 | 0.53 |
| 1998 | 76.97 | 17.32 | 5.11 | 0.60 |
| 1999 | 76.55 | 18.61 | 4.35 | 0.49 |
| 2000 | 77.98 | 17.90 | 3.76 | 0.36 |
| 2001 | 77.61 | 18.25 | 3.71 | 0.43 |
| 2002 | 80.94 | 15.37 | 3.28 | 0.41 |
| 2003 | 84.53 | 12.11 | 2.88 | 0.48 |
| 2004 | 87.95 | 9.05 | 2.55 | 0.45 |
| 2005 | 91.17 | 6.15 | 2.28 | 0.40 |
| 2006 | 90.60 | 6.35 | 2.60 | 0.44 |
| 2007 | 87.77 | 8.22 | 3.20 | 0.82 |
| 2008 | 62.76 | 29.49 | 5.60 | 2.15 |
| 2009 | 46.13 | 41.58 | 7.50 | 4.79 |
| 2010 | 47.33 | 40.85 | 7.97 | 3.85 |
| 2011 | 50.12 | 35.44 | 9.05 | 5.39 |
| 2012 | 55.31 | 30.49 | 8.88 | 5.32 |
| 2013 | 62.20 | 23.81 | 9.11 | 4.88 |
| 2014 | 63.68 | 21.29 | 10.25 | 4.78 |
| 2015 | 60.95 | 25.29 | 10.15 | 3.61 |
| 2016 | 61.57 | 24.92 | 10.28 | 3.22 |
Note:The data are annual. Home-purchase mortgage originations for one- to four-family owner-occupied properties, with junior-lien loans excluded in 2004 and later. Nonconventional loans are those insured by the Federal Housing Administration (FHA) or backed by guarantees from the U.S. Department of Veterans Affairs (VA), the Farm Service Agency (FSA), or the Rural Housing Service (RHS).
Last Update:
November 30, 2017