Board of Governors of the Federal Reserve System
Federal Reserve Board of Governors

Federal Reserve
BULLETIN

Current Bulletin

Accessible Versions of Figures

Figure 1. Volume of home-purchase and refinance originations and average prime offer rate, by month, 2006-12
Year Month APOR (pecentage points) Home purchase (thousands of loans) Refinance (thousands of loans)
2006 1 6.21 423.34 450.72
2006 2 6.31 456.01 470.82
2006 3 6.38 627.10 557.07
2006 4 6.51 560.23 484.49
2006 5 6.64 660.79 531.91
2006 6 6.71 712.84 508.11
2006 7 6.81 592.13 465.86
2006 8 6.58 650.19 528.05
2006 9 6.48 556.14 489.73
2006 10 6.39 527.45 557.42
2006 11 6.32 491.13 506.59
2006 12 6.17 482.99 540.48
2007 1 6.25 348.78 472.26
2007 2 6.33 361.35 428.87
2007 3 6.20 450.07 483.49
2007 4 6.22 421.01 474.61
2007 5 6.27 468.85 477.20
2007 6 6.64 486.94 418.80
2007 7 6.73 441.80 380.66
2007 8 6.64 453.66 368.96
2007 9 6.44 326.90 293.34
2007 10 6.43 330.11 355.00
2007 11 6.28 299.77 317.04
2007 12 6.14 274.04 347.66
2008 1 5.82 203.89 319.56
2008 2 5.82 228.84 491.23
2008 3 6.07 264.21 463.44
2008 4 5.96 279.24 425.18
2008 5 6.07 308.80 318.16
2008 6 6.34 318.45 266.45
2008 7 6.46 312.13 213.41
2008 8 6.58 294.76 182.14
2008 9 6.18 271.84 176.26
2008 10 6.20 251.64 221.29
2008 11 6.28 183.39 144.16
2008 12 5.52 202.50 236.52
2009 1 5.11 139.35 463.24
2009 2 5.20 155.12 592.97
2009 3 5.08 200.41 617.07
2009 4 4.88 211.48 618.79
2009 5 4.88 233.26 649.15
2009 6 5.38 282.80 627.44
2009 7 5.28 292.42 463.96
2009 8 5.26 262.91 336.87
2009 9 5.12 258.26 306.19
2009 10 4.99 274.88 339.54
2009 11 4.97 261.75 363.61
2009 12 4.94 220.31 393.25
2010 1 5.13 141.43 313.87
2010 2 5.03 153.34 260.17
2010 3 5.04 231.70 319.87
2010 4 5.16 264.94 288.43
2010 5 4.98 279.66 239.93
2010 6 4.80 326.77 297.53
2010 7 4.63 197.65 366.55
2010 8 4.51 201.23 506.85
2010 9 4.41 197.76 561.34
2010 10 4.32 181.24 604.45
2010 11 4.36 174.47 627.24
2010 12 4.74 196.39 582.36
2011 1 4.84 136.82 433.19
2011 2 5.02 139.60 318.76
2011 3 4.89 197.61 300.21
2011 4 4.92 202.51 252.25
2011 5 4.73 221.65 230.32
2011 6 4.57 254.36 261.05
2011 7 4.60 226.45 268.96
2011 8 4.39 241.62 330.92
2011 9 4.19 215.46 429.46
2011 10 4.12 194.30 501.65
2011 11 4.05 186.41 503.95
2011 12 4.02 200.06 481.16
2012 1 3.99 145.80 442.25
2012 2 3.96 162.49 508.32
2012 3 4.02 214.77 541.32
2012 4 3.99 222.66 496.20
2012 5 3.88 262.60 492.01
2012 6 3.76 277.03 493.98
2012 7 3.63 257.53 539.19
2012 8 3.66 277.93 629.15
2012 9 3.60 225.90 567.74
2012 10 3.44 239.66 678.47
2012 11 3.42 224.66 614.05
2012 12 3.40 218.57 634.66

Note: The data are monthly. Loans are first- and second-lien mortgages excluding those for multifamily housing. The average prime offer rate (APOR) is published weekly by the Federal Financial Institutions Examination Council. It is an estimate of the annual percentage rate on loans being offered to high-quality prime borrowers based on the contract interest rates and discount points reported by Freddie Mac in its Primary Mortgage Market Survey (www.ffiec.gov/ratespread/newcalc.aspx).

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Figure 2.A. Delinquency rates on 2006 home-purchase loans, by minority status, higher-priced loan status, location, and credit score
(percent)
Location and Score Asian Black or African American Hispanic white Non-Hispanic white
Higher-priced loans in housing-bust counties
Below 620 40.79 51.31 52.00 43.09
620-719 33.91 34.15 42.83 22.36
720 and above 13.70 12.99 24.95 6.64
Non-higher-priced loans in housing-bust counties
Below 620 12.57 32.55 33.08 21.00
620-719 7.38 11.69 20.57 8.74
720 and above 3.52 2.96 9.65 1.81
Higher-priced loans in other counties
Below 620 26.28 44.39 31.84 32.64
620-719 22.11 19.83 17.05 14.55
720 and above 5.63 3.45 4.90 3.54
Non-higher-priced loans in other counties
Below 620 11.07 25.16 15.98 15.67
620-719 2.89 8.48 5.98 4.33
720 and above 0.41 2.29 1.37 0.52

Note: Loans are first-lien mortgages for owner-occupied one- to four-family homes in metropolitan statistical areas. For definition of minority status, see table 14.A, note 2. Housing-bust counties are defined as the 25 percent of counties with the steepest house price declines from December 2006 to December 2008. Credit score is the Equifax Risk Score 3.0, measured in the quarter prior to origination. Delinquency is defined as becoming 60 days or more past due at any time within two years of origination.

Source: FFIEC HMDA data matched to FRBNY Consumer Credit Panel/Equifax.

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Figure 2.B. Delinquency rates on 2006 refinance loans, by minority status, higher-priced loan status, location, and credit score
(percent)
Location and Score Asian Black or African American Hispanic white Non-Hispanic white
Higher-priced loans in housing-bust counties
Below 620 45.97 37.77 39.83 36.14
620-719 33.01 21.42 31.35 25.80
720 and above 16.55 10.62 19.21 9.72
Non-higher-priced loans in housing-bust counties
Below 620 22.68 25.58 26.25 27.23
620-719 22.22 13.94 21.45 14.15
720 and above 9.80 2.76 13.74 3.62
Higher-priced loans in other counties
Below 620 16.42 19.49 19.47 18.91
620-719 11.21 7.47 11.36 8.28
720 and above 3.62 2.70 4.89 1.99
Non-higher-priced loans in other counties
Below 620 8.57 16.35 13.44 14.07
620-719 4.61 5.72 6.56 4.58
720 and above 0.94 1.37 3.01 0.94

Note: See notes to figure 2.A.

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Figure 3: Fraction of 2006 home-purchase borrowers with a mortgage at the end of 2012, by minority status and credit score, by percent

Figure 3.A. Fraction with at least one mortgage account at the end of 2012
(all mortgage accounts in good standing)
Credit score at origination Asian Black or African American Hispanic white Non-Hispanic white
All 63.98 47.17 46.31 66.99
Below 620 39.97 31.34 33.27 41.20
620-719 55.91 53.72 43.20 62.61
720 and above 72.51 72.85 64.34 76.89

Note: Loans are first-lien mortgages for owner-occupied one- to four-family homes in metropolitan statistical areas. For definition of minority status, see table 14.A, note 2. Credit score is the Equifax Risk Score 3.0, measured in the quarter prior to origination in 2006.

Figure 3.B. Fraction whose 2006 mortgage is still open at the end of 20121
Credit score at origination Asian Black or African American Hispanic white Non-Hispanic white
All 36.81 56.31 55.62 37.11
Below 620 43.46 61.36 64.70 49.79
620-719 43.71 57.12 57.69 44.74
720 and above 33.05 49.98 48.68 31.27

Note: Loans are first-lien mortgages for owner-occupied one- to four-family homes in metropolitan statistical areas. For definition of minority status, see table 14.A, note 2. Credit score is the Equifax Risk Score 3.0, measured in the quarter prior to origination in 2006.

1. Only among those who have at least one mortgage by the end of 2012, with all mortgage accounts in good standing. Return to text

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Figure 4. Dynamics of credit scores and debt for delinquent 2006 home-purchase borrowers, by minority status
Quarters since origination Average Equifax Risk Score Average Equifax Risk Score, indexed Average mortgage balance (thousands of dollars) Average nonmortgage debt balance (thousands of dollars) Share of mortgage debt 60 or more days late Share of nonmortgage debt 60 or more days late
Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white
-10 640 555 612 597 98 95 97 97 74.49 18.99 38.94 43.70 14.50 11.35 11.74 15.56 0.00 0.08 0.03 0.06 0.10 0.17 0.10 0.10
-9 638 555 613 598 98 95 97 97 84.04 18.83 41.57 40.92 15.95 12.18 11.81 15.50 0.00 0.11 0.03 0.04 0.11 0.17 0.07 0.09
-8 635 557 614 599 97 95 97 97 71.49 19.18 43.28 43.28 17.68 12.24 12.05 15.74 0.01 0.09 0.03 0.05 0.09 0.15 0.07 0.09
-7 638 561 617 602 97 96 97 97 74.89 20.11 45.93 45.10 16.53 12.07 12.33 15.82 0.01 0.08 0.02 0.03 0.08 0.15 0.06 0.08
-6 642 564 619 605 98 96 98 98 79.18 21.13 49.96 46.53 17.18 12.97 12.37 16.55 0.01 0.08 0.02 0.03 0.06 0.13 0.06 0.07
-5 645 568 622 608 99 97 98 98 87.25 21.76 53.26 47.73 17.76 13.23 12.80 17.35 0.00 0.06 0.02 0.03 0.06 0.12 0.05 0.06
-4 645 572 626 611 99 98 99 99 93.41 23.14 58.69 48.70 20.70 13.60 13.68 18.35 0.01 0.05 0.01 0.02 0.05 0.10 0.04 0.05
-3 647 576 629 613 99 98 99 99 96.35 23.71 59.63 48.25 20.46 14.98 15.02 19.02 0.00 0.02 0.00 0.01 0.04 0.10 0.03 0.04
-2 652 582 632 616 100 100 100 100 95.49 24.02 64.89 50.88 21.20 15.79 15.30 19.69 0.00 0.01 0.00 0.01 0.03 0.07 0.02 0.03
-1 654 585 633 618 100 100 100 100 92.97 26.51 66.39 53.46 24.90 16.03 16.21 20.36 0.00 0.02 0.01 0.01 0.03 0.06 0.02 0.03
0 649 580 630 613 99 99 99 99 157.30 70.49 129.21 93.25 26.86 20.20 20.20 22.78 0.00 0.01 0.00 0.01 0.02 0.04 0.02 0.03
1 641 565 623 602 98 97 98 97 320.16 139.60 234.00 164.49 28.95 22.65 19.94 24.46 0.01 0.06 0.03 0.04 0.03 0.06 0.03 0.04
2 625 538 608 579 95 92 96 94 432.35 192.86 331.20 225.45 29.55 21.59 18.89 24.78 0.09 0.17 0.08 0.12 0.03 0.11 0.06 0.08
3 600 515 587 555 92 88 93 90 460.61 199.97 347.62 230.70 32.02 22.45 20.04 25.77 0.15 0.27 0.15 0.19 0.05 0.17 0.08 0.12
4 580 502 569 537 89 86 90 87 444.98 190.85 342.51 226.07 32.24 21.79 21.23 26.12 0.24 0.36 0.23 0.27 0.10 0.16 0.12 0.15
5 564 491 547 521 86 84 86 84 435.65 183.13 330.46 217.48 32.29 22.15 21.66 25.74 0.32 0.44 0.35 0.39 0.15 0.20 0.15 0.18
6 540 482 523 507 82 82 83 82 404.49 170.65 312.77 205.83 31.30 21.98 21.49 25.05 0.43 0.51 0.48 0.49 0.17 0.24 0.21 0.23
7 516 478 504 499 79 82 80 81 372.69 158.41 286.75 188.93 30.55 21.45 20.59 23.56 0.60 0.62 0.63 0.59 0.19 0.28 0.28 0.27
8 501 479 490 496 77 82 77 80 342.18 145.21 256.37 170.12 29.49 20.36 19.62 21.80 0.83 0.75 0.84 0.74 0.26 0.30 0.35 0.30
9 503 484 491 503 77 83 78 81 291.89 131.71 223.50 146.18 29.23 19.18 18.25 19.92 0.81 0.69 0.83 0.70 0.35 0.31 0.39 0.34
10 514 492 500 512 79 84 79 83 241.80 121.99 190.68 131.27 25.89 18.26 16.85 18.11 0.78 0.68 0.81 0.68 0.39 0.34 0.45 0.35
11 524 497 510 520 80 85 81 84 198.74 115.37 164.03 116.60 24.11 17.95 15.16 16.71 0.78 0.67 0.79 0.68 0.43 0.36 0.45 0.35
12 532 504 519 527 81 86 82 85 170.75 106.75 148.11 105.88 21.43 17.61 13.98 16.90 0.77 0.69 0.79 0.69 0.45 0.37 0.47 0.33
13 539 510 527 534 82 87 83 86 155.64 100.15 134.79 98.32 17.44 16.58 12.53 14.68 0.83 0.68 0.79 0.68 0.53 0.34 0.48 0.36
14 550 515 534 540 84 88 84 87 126.26 94.97 122.25 91.53 17.73 16.05 11.82 14.05 0.74 0.69 0.77 0.67 0.58 0.35 0.48 0.36
15 560 521 543 548 86 89 86 89 121.04 92.45 108.57 83.63 15.09 15.78 10.59 13.58 0.72 0.65 0.74 0.64 0.53 0.35 0.47 0.35
16 568 525 551 554 87 90 87 90 115.02 88.11 99.98 75.59 14.14 15.77 9.96 13.28 0.65 0.64 0.73 0.60 0.54 0.35 0.47 0.35
17 575 530 558 559 88 91 88 90 105.60 85.72 94.10 73.07 13.27 15.85 9.49 12.99 0.62 0.64 0.71 0.60 0.56 0.35 0.46 0.35
18 580 533 564 564 89 91 89 91 91.52 83.81 90.23 68.92 12.63 16.10 9.21 12.57 0.62 0.62 0.68 0.58 0.53 0.34 0.47 0.34
19 586 537 569 568 90 92 90 92 83.48 81.94 84.23 66.72 13.03 15.62 9.27 12.64 0.60 0.61 0.68 0.57 0.51 0.34 0.47 0.34
20 589 538 573 572 90 92 90 92 84.45 76.12 78.69 63.51 13.61 15.75 9.81 12.58 0.62 0.61 0.64 0.57 0.51 0.35 0.50 0.33
21 592 540 576 574 90 92 91 93 75.67 73.97 73.93 59.91 13.32 15.91 9.40 12.76 0.57 0.58 0.61 0.54 0.52 0.34 0.49 0.32
22 594 542 581 577 91 93 92 93 76.58 71.23 67.85 57.89 13.79 16.18 9.77 12.86 0.58 0.59 0.57 0.52 0.53 0.34 0.50 0.30
23 599 543 586 580 92 93 92 94 65.03 68.54 64.35 55.49 13.89 17.08 9.34 13.13 0.53 0.59 0.56 0.49 0.51 0.33 0.45 0.30
24 601 545 587 583 92 93 93 94 67.46 65.86 61.61 54.87 13.67 17.31 9.38 13.33 0.53 0.60 0.57 0.48 0.46 0.33 0.43 0.29

Note: Loans are first-lien mortgages for owner-occupied one- to four-family homes in metropolitan statistical areas. Sample consists of 2006 home-purchase borrowers who became 60 or more days past due within two years of origination; the top-right panel (Average Equifax Risk Score, indexed) is indexed to 100 at one quarter prior to origination; the bottom two panels (Share of mortgage debt 60 or more days late; Share of nonmortgage debt 60 or more days late) provide the dollar-weighted average share of balances that are 60 or more days past due in a given quarter for those who have positive balances. For definition of minority status, see table 14.A, note 2. In all panels, the vertical line extending from 0 on the x-axis indicates the time of origination.

Source: FFIEC HMDA data matched to FRBNY Consumer Credit Panel/Equifax.

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Figure 5. Dynamics of credit scores and debt for delinquent 2006 home-purchase borrowers in California, by minority status
Quarters since origination Average Equifax Risk Score Average Equifax Risk Score, indexed Average mortgage balance (thousands of dollars) Average nonmortgage debt balance (thousands of dollars) Share of mortgage debt 60 or more days late Share of nonmortgage debt 60 or more days late
Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white
-10 666.13 600.87 634.41 637.45 98.44 96.42 96.56 96.33 126.48 41.75 48.63 95.86 14.79 17.37 13.06 20.05 0.00 0.11 0.00 0.03 0.17 0.07 0.04 0.04
-9 656.14 611.11 635.54 634.57 96.97 98.06 96.73 95.89 111.12 31.47 54.32 93.85 15.36 14.53 11.93 19.29 0.00 0.00 0.01 0.01 0.20 0.05 0.04 0.04
-8 658.11 597.33 637.18 638.52 97.26 95.85 96.98 96.49 102.97 40.06 58.78 98.77 21.94 17.55 11.86 20.46 0.00 0.00 0.01 0.03 0.09 0.07 0.04 0.04
-7 655.12 604.29 639.76 642.00 96.82 96.97 97.38 97.02 102.34 62.69 60.85 103.26 19.16 16.94 13.31 20.61 0.00 0.00 0.01 0.00 0.09 0.05 0.02 0.03
-6 655.81 606.00 642.21 644.72 96.92 97.24 97.75 97.43 108.50 54.62 69.98 117.28 16.26 16.97 12.78 22.09 0.01 0.00 0.01 0.01 0.09 0.04 0.03 0.03
-5 658.19 616.45 645.74 648.21 97.27 98.92 98.29 97.95 120.02 57.33 78.01 124.90 16.83 17.35 12.51 24.72 0.00 0.00 0.01 0.01 0.09 0.03 0.02 0.03
-4 660.92 614.44 651.45 652.08 97.67 98.60 99.15 98.54 120.10 77.79 89.43 128.56 19.86 20.32 14.65 26.58 0.00 0.00 0.01 0.01 0.07 0.03 0.02 0.02
-3 665.49 620.89 652.50 656.33 98.35 99.63 99.31 99.18 125.00 73.04 85.90 131.28 19.79 33.56 16.36 25.95 0.00 0.00 0.00 0.00 0.07 0.01 0.02 0.01
-2 676.35 624.02 656.08 659.01 99.95 100.13 99.86 99.59 117.19 69.83 96.59 138.99 19.68 32.90 14.91 27.04 0.00 0.00 0.00 0.01 0.05 0.01 0.01 0.01
-1 676.66 623.18 657.00 661.75 100.00 100.00 100.00 100.00 118.42 107.64 100.34 154.34 21.40 23.43 15.49 24.99 0.00 0.00 0.00 0.02 0.05 0.04 0.01 0.01
0 672.50 627.50 655.71 659.62 99.39 100.69 99.80 99.68 231.74 242.23 197.00 253.76 27.28 44.88 19.94 27.32 0.00 0.00 0.00 0.00 0.02 0.02 0.01 0.01
1 666.59 614.45 653.45 654.07 98.51 98.60 99.46 98.84 426.80 399.25 343.79 385.45 37.11 38.29 19.53 29.23 0.02 0.07 0.02 0.02 0.02 0.02 0.01 0.06
2 663.07 585.40 640.41 637.59 97.99 93.94 97.47 96.35 573.56 535.28 482.07 550.26 35.56 35.07 19.19 30.26 0.05 0.16 0.08 0.10 0.03 0.08 0.04 0.04
3 633.29 550.16 620.65 616.79 93.59 88.28 94.47 93.21 638.53 553.48 504.57 556.00 39.66 37.91 20.79 33.23 0.12 0.27 0.13 0.13 0.04 0.24 0.04 0.08
4 620.05 532.40 603.45 598.00 91.63 85.43 91.85 90.37 611.13 499.75 491.55 549.70 39.81 40.36 22.99 34.81 0.18 0.35 0.19 0.22 0.06 0.26 0.07 0.09
5 600.10 520.90 578.90 577.06 88.69 83.59 88.11 87.20 594.59 499.52 476.95 530.17 40.28 40.90 23.11 35.77 0.30 0.42 0.31 0.35 0.10 0.31 0.11 0.14
6 567.29 505.79 552.00 554.44 83.84 81.16 84.02 83.78 567.96 457.62 444.98 495.21 39.41 39.54 22.87 35.88 0.40 0.54 0.46 0.42 0.09 0.33 0.16 0.22
7 535.28 483.40 526.66 532.73 79.11 77.57 80.16 80.50 504.05 379.14 402.49 452.67 38.71 37.96 22.19 35.27 0.55 0.68 0.61 0.57 0.13 0.42 0.24 0.28
8 511.91 487.29 505.98 509.52 75.65 78.19 77.01 77.00 456.68 304.76 347.95 395.91 38.58 35.18 21.43 33.03 0.83 0.72 0.85 0.79 0.19 0.47 0.32 0.36
9 510.03 490.38 502.35 510.38 75.37 78.69 76.46 77.13 383.21 253.99 296.33 314.17 39.25 33.03 20.00 31.00 0.84 0.69 0.86 0.76 0.30 0.45 0.40 0.42
10 524.19 496.96 512.67 517.76 77.47 79.74 78.03 78.24 285.24 198.88 232.67 265.52 34.20 30.73 18.22 26.54 0.80 0.65 0.82 0.73 0.35 0.49 0.43 0.42
11 529.86 506.71 525.45 526.58 78.31 81.31 79.98 79.57 219.35 172.07 186.79 219.48 32.87 30.31 16.40 23.47 0.84 0.58 0.77 0.75 0.38 0.54 0.46 0.45
12 538.50 516.06 535.17 537.99 79.58 82.81 81.46 81.30 188.01 168.72 163.41 188.58 29.84 26.65 15.29 21.07 0.82 0.77 0.75 0.79 0.40 0.50 0.50 0.44
13 551.42 524.82 543.90 546.82 81.49 84.22 82.79 82.63 176.64 159.76 147.67 171.79 21.92 22.63 13.38 19.21 0.83 0.74 0.76 0.81 0.53 0.41 0.49 0.43
14 568.06 530.44 551.14 555.73 83.95 85.12 83.89 83.98 129.55 144.63 134.16 155.77 24.71 20.99 12.91 18.19 0.69 0.60 0.75 0.82 0.64 0.41 0.50 0.44
15 576.22 538.37 559.78 561.10 85.16 86.39 85.20 84.79 128.69 148.43 119.25 135.37 19.46 18.90 10.99 17.07 0.68 0.52 0.73 0.80 0.51 0.43 0.48 0.43
16 581.69 548.13 567.01 569.05 85.96 87.96 86.30 85.99 121.37 141.32 107.65 118.33 17.29 18.12 10.21 16.99 0.63 0.51 0.70 0.75 0.54 0.41 0.49 0.41
17 586.60 558.01 575.04 574.87 86.69 89.54 87.52 86.87 111.59 133.70 101.34 103.71 16.67 15.90 9.60 15.89 0.58 0.57 0.70 0.74 0.61 0.31 0.46 0.38
18 591.23 562.32 582.27 583.18 87.37 90.23 88.63 88.13 96.15 135.88 95.77 86.48 14.75 14.46 9.21 15.55 0.67 0.36 0.67 0.67 0.57 0.31 0.46 0.38
19 599.40 565.05 586.19 587.63 88.58 90.67 89.22 88.80 91.35 111.37 85.49 79.59 13.47 13.47 8.91 14.68 0.63 0.34 0.69 0.64 0.54 0.42 0.48 0.38
20 600.99 569.79 590.44 594.00 88.82 91.43 89.87 89.76 87.39 115.56 80.29 68.47 14.12 13.50 8.92 15.66 0.58 0.53 0.61 0.69 0.53 0.26 0.49 0.39
21 605.14 578.45 594.22 594.93 89.43 92.82 90.44 89.90 79.26 115.78 72.67 67.36 13.61 14.05 8.31 14.04 0.54 0.37 0.54 0.60 0.54 0.22 0.48 0.32
22 608.91 577.42 599.94 600.11 89.99 92.66 91.31 90.69 76.52 113.09 62.42 62.54 13.22 14.33 8.41 13.81 0.45 0.51 0.45 0.47 0.50 0.36 0.48 0.28
23 615.10 581.20 604.50 607.01 90.90 93.26 92.01 91.73 61.23 105.12 59.13 56.26 12.08 15.80 8.22 14.58 0.30 0.49 0.43 0.42 0.48 0.33 0.42 0.26
24 617.16 579.57 606.08 609.59 91.21 93.00 92.25 92.12 63.95 105.49 52.38 63.12 13.57 15.77 8.08 13.64 0.38 0.52 0.40 0.33 0.46 0.27 0.40 0.25

Note: Loans are first-lien mortgages for owner-occupied one- to four-family homes in metropolitan statistical areas in California. Sample consists of 2006 home-purchase borrowers who bought properties in California and who became 60 or more days past due within two years of origination; the top-right panel (Average Equifax Risk Score, indexed) is indexed to 100 at one quarter prior to origination; the bottom two panels (Share of mortgage debt 60 or more days late; Share of nonmortgage debt 60 or more days late) provide the dollar-weighted average share of balances that are 60 or more days past due in a given quarter for those who have positive balances. For definition of minority status, see table 14.A, note 2. In all panels, the vertical line extending from 0 on the x-axis indicates the time of origination.

Source: FFIEC HMDA data matched to FRBNY Consumer Credit Panel/Equifax.

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Figure 6. Dynamics of credit scores and debt for all 2006 home-purchase borrowers in California, by minority status
Quarters since origination Average Equifax Risk Score Average Equifax Risk Score, indexed Average mortgage balance (thousands of dollars) Average nonmortgage debt balance (thousands of dollars) Share of mortgage debt 60 or more days late Share of nonmortgage debt 60 or more days late
Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white Asian Black or African American Hispanic white Non-Hispanic white
-10 713.50 655.29 670.30 715.14 97.53 95.78 97.35 97.19 117.90 84.92 78.77 152.11 15.60 21.16 14.31 19.20 0.00 0.02 0.00 0.00 0.03 0.04 0.02 0.02
-9 714.27 662.16 669.68 719.02 97.64 96.78 97.26 97.72 122.21 90.41 83.96 159.14 15.81 18.63 14.06 20.85 0.00 0.01 0.00 0.00 0.03 0.03 0.03 0.01
-8 716.12 659.67 671.73 719.55 97.89 96.42 97.55 97.79 127.48 95.79 86.66 160.81 17.55 18.83 14.00 20.99 0.00 0.00 0.00 0.00 0.02 0.04 0.03 0.01
-7 718.05 664.85 674.65 721.92 98.15 97.18 97.98 98.12 134.30 97.80 87.68 167.10 16.26 19.14 14.72 21.39 0.00 0.00 0.00 0.00 0.02 0.04 0.02 0.01
-6 720.78 666.47 676.81 725.31 98.53 97.41 98.29 98.58 142.24 105.57 96.66 174.84 17.64 18.38 14.03 21.39 0.00 0.00 0.00 0.00 0.01 0.04 0.02 0.01
-5 723.26 672.56 678.69 727.31 98.87 98.30 98.56 98.85 147.61 115.36 101.78 177.14 17.62 18.50 14.49 21.98 0.00 0.00 0.00 0.00 0.02 0.04 0.02 0.01
-4 724.08 676.78 682.06 729.63 98.98 98.92 99.05 99.16 147.61 121.19 102.67 176.84 17.79 20.23 15.67 23.03 0.00 0.00 0.00 0.00 0.01 0.03 0.01 0.01
-3 727.25 679.55 684.92 732.14 99.41 99.32 99.47 99.50 151.97 124.54 108.99 182.67 18.26 23.95 16.02 23.02 0.00 0.00 0.00 0.00 0.01 0.02 0.01 0.01
-2 730.18 684.17 687.07 734.70 99.81 100.00 99.78 99.85 153.23 122.27 116.19 181.45 18.45 22.99 16.04 22.87 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01
-1 731.56 684.18 688.58 735.79 100.00 100.00 100.00 100.00 149.27 134.47 116.42 182.36 18.96 21.11 16.21 22.43 0.00 0.00 0.00 0.00 0.01 0.03 0.01 0.00
0 730.81 684.98 688.90 733.67 99.90 100.12 100.05 99.71 261.71 223.68 195.78 262.92 20.55 26.61 17.73 22.95 0.00 0.00 0.00 0.00 0.01 0.02 0.01 0.00
1 739.10 686.81 690.47 739.38 101.03 100.39 100.27 100.49 487.98 383.55 338.45 459.55 21.82 26.18 17.67 22.46 0.00 0.02 0.01 0.00 0.01 0.02 0.01 0.01
2 741.87 680.16 688.23 741.24 101.41 99.41 99.95 100.74 595.14 494.37 462.26 567.88 21.75 27.05 18.01 22.75 0.01 0.04 0.03 0.01 0.01 0.04 0.02 0.01
3 738.68 672.03 680.83 738.81 100.97 98.22 98.87 100.41 600.26 507.32 476.78 566.86 22.60 28.28 19.34 23.97 0.01 0.07 0.05 0.01 0.02 0.09 0.02 0.02
4 739.56 666.54 675.33 738.03 101.09 97.42 98.08 100.30 598.50 492.55 476.08 562.85 22.94 28.36 20.84 24.93 0.02 0.09 0.07 0.02 0.02 0.09 0.03 0.02
5 738.73 662.97 665.05 737.48 100.98 96.90 96.58 100.23 593.15 485.54 469.88 561.57 23.59 28.97 21.78 25.58 0.03 0.12 0.11 0.04 0.03 0.11 0.05 0.03
6 735.51 660.75 654.92 735.89 100.54 96.58 95.11 100.01 592.42 496.99 462.32 556.21 24.08 30.14 21.98 25.94 0.04 0.13 0.16 0.04 0.02 0.12 0.07 0.04
7 732.86 654.53 644.79 734.41 100.18 95.67 93.64 99.81 586.38 463.97 448.82 554.92 23.84 30.56 22.25 26.52 0.05 0.16 0.21 0.05 0.04 0.14 0.11 0.05
8 731.55 653.00 635.30 733.09 100.00 95.44 92.26 99.63 576.64 434.62 429.47 543.04 24.06 30.08 22.29 26.68 0.08 0.17 0.26 0.07 0.06 0.16 0.14 0.06
9 725.57 646.10 619.47 728.88 99.18 94.43 89.96 99.06 573.69 431.59 409.27 532.48 24.29 30.51 21.76 26.91 0.12 0.21 0.35 0.08 0.09 0.15 0.17 0.08
10 719.81 639.37 610.63 725.56 98.39 93.45 88.68 98.61 557.70 410.95 384.30 524.70 24.05 30.08 20.99 26.44 0.14 0.25 0.39 0.09 0.11 0.19 0.20 0.07
11 714.23 636.07 606.02 721.71 97.63 92.97 88.01 98.09 531.91 396.88 358.98 507.79 23.67 29.47 20.17 26.05 0.16 0.25 0.40 0.11 0.11 0.21 0.22 0.08
12 710.20 634.71 604.60 717.87 97.08 92.77 87.80 97.56 509.43 373.43 336.59 494.01 23.07 29.49 19.44 25.00 0.18 0.29 0.42 0.13 0.12 0.19 0.25 0.09
13 708.66 633.60 604.45 714.43 96.87 92.61 87.78 97.10 491.02 359.64 315.23 477.49 21.68 28.28 18.07 25.04 0.18 0.28 0.43 0.14 0.13 0.18 0.26 0.09
14 707.30 630.41 606.78 712.98 96.68 92.14 88.12 96.90 472.94 337.23 296.53 463.79 21.91 27.44 17.47 24.55 0.17 0.27 0.43 0.14 0.18 0.21 0.28 0.09
15 705.73 633.12 609.62 711.98 96.47 92.54 88.53 96.76 456.45 337.32 275.99 451.84 20.98 26.03 15.93 23.90 0.18 0.27 0.41 0.14 0.17 0.22 0.28 0.10
16 705.92 634.24 612.62 711.50 96.50 92.70 88.97 96.70 436.16 324.68 260.17 431.34 20.73 24.44 15.11 23.46 0.16 0.27 0.38 0.14 0.18 0.23 0.29 0.10
17 708.65 639.52 618.64 711.65 96.87 93.47 89.84 96.72 428.11 313.34 249.86 418.71 19.84 22.52 14.06 22.84 0.15 0.26 0.36 0.14 0.18 0.19 0.26 0.10
18 709.16 644.19 623.46 712.13 96.94 94.16 90.54 96.78 408.34 312.48 239.12 404.11 18.83 21.92 13.60 22.62 0.15 0.23 0.35 0.13 0.16 0.17 0.26 0.09
19 709.53 645.42 627.10 712.33 96.99 94.34 91.07 96.81 393.80 286.08 226.01 393.33 18.47 20.52 13.42 22.35 0.15 0.21 0.33 0.13 0.18 0.18 0.28 0.09
20 712.14 645.49 630.71 713.05 97.35 94.35 91.60 96.91 389.46 283.74 219.14 380.19 17.88 20.39 13.10 22.80 0.14 0.25 0.30 0.12 0.16 0.15 0.28 0.10
21 712.38 646.59 634.47 712.95 97.38 94.51 92.14 96.90 371.52 278.04 206.83 370.91 17.51 20.72 12.63 23.56 0.14 0.23 0.26 0.12 0.16 0.13 0.26 0.09
22 714.20 645.09 638.06 713.47 97.63 94.29 92.66 96.97 363.77 272.58 197.39 359.21 17.43 21.31 12.62 24.39 0.11 0.25 0.24 0.10 0.15 0.14 0.25 0.08
23 715.30 648.03 641.69 714.46 97.78 94.72 93.19 97.10 346.82 250.23 188.26 347.14 17.09 21.31 12.59 24.22 0.11 0.24 0.22 0.10 0.14 0.15 0.23 0.08
24 715.99 650.23 643.84 715.37 97.87 95.04 93.50 97.22 332.52 233.72 179.85 337.77 17.26 21.30 12.26 22.66 0.08 0.22 0.20 0.09 0.12 0.12 0.22 0.09

Note: Note: Loans are first-lien mortgages for owner-occupied one- to four-family homes in metropolitan statistical areas in California. Sample consists of 2006 home-purchase borrowers who bought properties in California; the top-right panel (Average Equifax Risk Score, indexed) is indexed to 100 at one quarter prior to origination; the bottom two panels (Share of mortgage debt 60 or more days late; Share of nonmortgage debt 60 or more days late) provide the dollar-weighted average share of balances that are 60 or more days past due in a given quarter for those who have positive balances. For definition of minority status, see table 14.A, note 2. In all panels, the vertical line extending from 0 on the x-axis indicates the time of origination.

Source: FFIEC HMDA data matched to FRBNY Consumer Credit Panel/Equifax.

Return to text

Figure C.1. Housing-bust counties
County and state Housing bust
Autauga AL 0
Baldwin AL 0
Calhoun AL 0
Jefferson AL 0
Lee AL 0
Limestone AL 0
Madison AL 0
Marshall AL 0
Mobile AL 0
Montgomery AL 0
Morgan AL 0
Russell AL 0
St. Clair AL 0
Shelby AL 0
Tuscaloosa AL 0
Anchorage Borough AK 0
Fairbanks North Star Borough AK 0
Juneau Borough AK 0
Kenai Peninsula Borough AK 0
Matanuska-Susitna Borough AK 0
Cochise AZ 0
Coconino AZ 1
Gila AZ 1
Maricopa AZ 1
Mohave AZ 1
Navajo AZ 1
Pima AZ 1
Pinal AZ 1
Santa Cruz AZ 1
Yavapai AZ 1
Yuma AZ 1
Arkansas AR 0
Baxter AR 0
Benton AR 1
Boone AR 0
Carroll AR 0
Clark AR 0
Cleburne AR 0
Conway AR 0
Craighead AR 0
Crawford AR 0
Crittenden AR 0
Cross AR 1
Drew AR 0
Faulkner AR 0
Garland AR 0
Greene AR 0
Hot Spring AR 0
Independence AR 0
Jefferson AR 0
Johnson AR 0
Logan AR 0
Lonoke AR 0
Miller AR 0
Poinsett AR 0
Polk AR 0
Pope AR 0
Pulaski AR 0
Randolph AR 0
Saline AR 0
Sebastian AR 0
Sevier AR 0
Sharp AR 0
Union AR 0
Van Buren AR 0
Washington AR 0
White AR 0
Alameda CA 1
Amador CA 1
Butte CA 1
Calaveras CA 1
Colusa CA 1
Contra Costa CA 1
Del Norte CA 1
El Dorado CA 1
Fresno CA 1
Glenn CA 1
Humboldt CA 1
Imperial CA 1
Kern CA 1
Kings CA 1
Lake CA 1
Lassen CA 1
Los Angeles CA 1
Madera CA 1
Marin CA 0
Mendocino CA 1
Merced CA 1
Monterey CA 1
Napa CA 1
Nevada CA 1
Orange CA 1
Placer CA 1
Plumas CA 1
Riverside CA 1
Sacramento CA 1
San Benito CA 1
San Bernardino CA 1
San Diego CA 1
San Francisco CA 0
San Joaquin CA 1
San Luis Obispo CA 1
San Mateo CA 1
Santa Barbara CA 1
Santa Clara CA 1
Santa Cruz CA 1
Shasta CA 1
Siskiyou CA 1
Solano CA 1
Sonoma CA 1
Stanislaus CA 1
Sutter CA 1
Tehama CA 1
Tulare CA 1
Tuolumne CA 1
Ventura CA 1
Yolo CA 1
Yuba CA 1
Adams CO 0
Arapahoe CO 0
Archuleta CO 0
Boulder CO 0
Broomfield CO 0
Delta CO 0
Denver CO 0
Douglas CO 0
Eagle CO 0
Elbert CO 0
El Paso CO 0
Fremont CO 0
Garfield CO 0
Jefferson CO 0
La Plata CO 0
Larimer CO 0
Logan CO 0
Mesa CO 0
Moffat CO 0
Montrose CO 0
Morgan CO 0
Park CO 0
Pitkin CO 0
Pueblo CO 0
Routt CO 0
Summit CO 0
Teller CO 0
Weld CO 0
Yuma CO 0
Fairfield CT 0
Hartford CT 0
Litchfield CT 0
Middlesex CT 0
New Haven CT 1
New London CT 0
Tolland CT 0
Windham CT 1
Kent DE 0
New Castle DE 0
Sussex DE 0
District of Columbia DC 0
Alachua FL 1
Bay FL 1
Brevard FL 1
Broward FL 1
Charlotte FL 1
Citrus FL 1
Clay FL 1
Collier FL 1
Columbia FL 1
DeSoto FL 1
Duval FL 1
Escambia FL 1
Flagler FL 1
Franklin FL 1
Gadsden FL 0
Gulf FL 1
Hendry FL 1
Hernando FL 1
Highlands FL 1
Hillsborough FL 1
Indian River FL 1
Jackson FL 1
Lake FL 1
Lee FL 1
Leon FL 0
Levy FL 1
Manatee FL 1
Marion FL 1
Martin FL 1
Miami-Dade FL 1
Monroe FL 1
Nassau FL 1
Okaloosa FL 1
Okeechobee FL 1
Orange FL 1
Osceola FL 1
Palm Beach FL 1
Pasco FL 1
Pinellas FL 1
Polk FL 1
Putnam FL 1
St. Johns FL 1
St. Lucie FL 1
Santa Rosa FL 1
Sarasota FL 1
Seminole FL 1
Sumter FL 0
Volusia FL 1
Wakulla FL 0
Walton FL 1
Barrow GA 0
Bartow GA 0
Ben Hill GA 0
Bibb GA 1
Bryan GA 0
Butts GA 0
Camden GA 0
Carroll GA 1
Catoosa GA 0
Chatham GA 0
Cherokee GA 0
Clarke GA 0
Clayton GA 1
Cobb GA 0
Colquitt GA 1
Columbia GA 0
Coweta GA 0
Dawson GA 1
Decatur GA 0
DeKalb GA 1
Dougherty GA 0
Douglas GA 1
Effingham GA 0
Fannin GA 1
Fayette GA 0
Floyd GA 0
Forsyth GA 0
Fulton GA 1
Gilmer GA 0
Glynn GA 0
Gordon GA 1
Greene GA 1
Gwinnett GA 1
Habersham GA 0
Hall GA 0
Haralson GA 0
Henry GA 1
Houston GA 0
Jackson GA 1
Jones GA 1
Lee GA 0
Liberty GA 0
Lowndes GA 0
Lumpkin GA 0
Murray GA 1
Muscogee GA 0
Newton GA 1
Oconee GA 0
Paulding GA 1
Pickens GA 0
Rabun GA 1
Richmond GA 0
Rockdale GA 1
Spalding GA 1
Thomas GA 0
Troup GA 0
Union GA 1
Walton GA 1
White GA 0
Whitfield GA 1
Hawaii HI 1
Honolulu HI 0
Kauai HI 0
Maui HI 0
Ada ID 1
Bannock ID 0
Bonner ID 1
Bonneville ID 0
Canyon ID 1
Kootenai ID 1
Nez Perce ID 1
Twin Falls ID 0
Boone IL 0
Carroll IL 0
Champaign IL 0
Christian IL 0
Coles IL 0
Cook IL 1
DeKalb IL 0
DuPage IL 0
Grundy IL 0
Kane IL 1
Kankakee IL 1
Kendall IL 1
Knox IL 0
Lake IL 1
La Salle IL 0
Livingston IL 0
McHenry IL 1
McLean IL 0
Macon IL 0
Madison IL 0
Monroe IL 0
Morgan IL 0
Ogle IL 0
Peoria IL 0
Rock Island IL 0
St. Clair IL 0
Sangamon IL 0
Tazewell IL 0
Vermilion IL 1
Whiteside IL 1
Will IL 1
Williamson IL 0
Winnebago IL 0
Woodford IL 0
Allen IN 0
Bartholomew IN 1
Boone IN 0
Clark IN 0
Delaware IN 0
Elkhart IN 0
Floyd IN 0
Hamilton IN 0
Hancock IN 0
Hendricks IN 0
Howard IN 0
Johnson IN 0
Lake IN 0
La Porte IN 0
Madison IN 0
Marion IN 0
Monroe IN 0
Porter IN 0
Putnam IN 0
St. Joseph IN 0
Tippecanoe IN 0
Vanderburgh IN 0
Warrick IN 0
Benton IA 0
Black Hawk IA 0
Cerro Gordo IA 0
Dallas IA 0
Dubuque IA 0
Jasper IA 0
Johnson IA 0
Kossuth IA 0
Linn IA 0
Lyon IA 0
Marion IA 0
Marshall IA 0
Muscatine IA 0
Polk IA 0
Pottawattamie IA 0
Scott IA 0
Story IA 0
Wapello IA 0
Warren IA 0
Webster IA 0
Woodbury IA 0
Allen KS 0
Barton KS 0
Bourbon KS 0
Butler KS 0
Cherokee KS 0
Coffey KS 0
Cowley KS 0
Crawford KS 1
Dickinson KS 0
Douglas KS 0
Ellis KS 0
Finney KS 0
Ford KS 0
Franklin KS 1
Geary KS 0
Jackson KS 0
Jefferson KS 0
Johnson KS 0
Labette KS 0
Leavenworth KS 0
Lyon KS 0
McPherson KS 0
Marion KS 0
Neosho KS 0
Pottawatomie KS 0
Pratt KS 0
Reno KS 0
Riley KS 0
Sedgwick KS 0
Seward KS 0
Shawnee KS 0
Sherman KS 0
Sumner KS 0
Thomas KS 0
Wyandotte KS 1
Allen KY 0
Anderson KY 0
Barren KY 0
Boone KY 0
Boyd KY 0
Bullitt KY 0
Calloway KY 0
Campbell KY 0
Christian KY 0
Clark KY 0
Fayette KY 0
Franklin KY 0
Graves KY 0
Hardin KY 0
Harrison KY 0
Henry KY 0
Hopkins KY 0
Jefferson KY 0
Jessamine KY 0
Kenton KY 0
Laurel KY 0
McCracken KY 0
Nelson KY 0
Oldham KY 0
Pulaski KY 0
Spencer KY 0
Ascension Parish LA 0
Beauregard Parish LA 0
Bossier Parish LA 0
Caddo Parish LA 0
Calcasieu Parish LA 0
East Baton Rouge Parish LA 0
Iberia Parish LA 0
Jefferson Parish LA 0
Lafayette Parish LA 0
Lincoln Parish LA 0
Livingston Parish LA 0
Natchitoches Parish LA 0
Orleans Parish LA 0
Ouachita Parish LA 0
Rapides Parish LA 0
St. Bernard Parish LA 0
St. Charles Parish LA 0
St. Tammany Parish LA 0
Tangipahoa Parish LA 0
Terrebonne Parish LA 0
Vernon Parish LA 0
Androscoggin ME 0
Cumberland ME 0
Knox ME 1
Penobscot ME 0
York ME 0
Allegany MD 0
Anne Arundel MD 0
Baltimore MD 0
Calvert MD 1
Caroline MD 1
Carroll MD 0
Cecil MD 0
Charles MD 1
Dorchester MD 1
Frederick MD 1
Garrett MD 0
Harford MD 0
Howard MD 0
Kent MD 1
Montgomery MD 1
Prince Georges MD 1
Queen Annes MD 0
St. Marys MD 0
Somerset MD 1
Talbot MD 0
Washington MD 1
Wicomico MD 1
Worcester MD 0
Baltimore city MD 0
Barnstable MA 0
Berkshire MA 0
Bristol MA 1
Essex MA 1
Franklin MA 0
Hampden MA 1
Hampshire MA 0
Middlesex MA 0
Norfolk MA 0
Plymouth MA 1
Suffolk MA 1
Worcester MA 1
Allegan MI 1
Antrim MI 1
Barry MI 1
Bay MI 1
Berrien MI 1
Calhoun MI 1
Charlevoix MI 1
Cheboygan MI 1
Clinton MI 1
Delta MI 1
Eaton MI 1
Genesee MI 1
Grand Traverse MI 1
Ingham MI 1
Ionia MI 1
Jackson MI 1
Kalamazoo MI 1
Kent MI 1
Lapeer MI 1
Livingston MI 1
Macomb MI 1
Marquette MI 1
Midland MI 0
Monroe MI 1
Montcalm MI 1
Muskegon MI 1
Oakland MI 1
Ottawa MI 1
Saginaw MI 1
St. Clair MI 1
St. Joseph MI 1
Shiawassee MI 1
Tuscola MI 1
Van Buren MI 0
Washtenaw MI 1
Wayne MI 1
Wexford MI 1
Anoka MN 1
Becker MN 1
Benton MN 1
Blue Earth MN 0
Brown MN 0
Carlton MN 0
Carver MN 0
Cass MN 0
Chisago MN 0
Clay MN 0
Dakota MN 1
Dodge MN 0
Freeborn MN 1
Goodhue MN 1
Hennepin MN 1
Isanti MN 1
Jackson MN 0
Kanabec MN 1
Le Sueur MN 1
Lyon MN 0
Martin MN 1
Mille Lacs MN 1
Morrison MN 1
Mower MN 1
Nicollet MN 0
Nobles MN 0
Olmsted MN 0
Otter Tail MN 1
Pine MN 0
Polk MN 0
Ramsey MN 1
Rice MN 1
St. Louis MN 0
Scott MN 1
Sherburne MN 1
Stearns MN 1
Steele MN 1
Wabasha MN 0
Washington MN 1
Winona MN 0
Wright MN 1
DeSoto MS 0
Lee MS 0
Madison MS 0
Boone MO 0
Buchanan MO 0
Cass MO 1
Christian MO 0
Clay MO 1
Franklin MO 0
Greene MO 0
Jackson MO 1
Jasper MO 0
Jefferson MO 0
Platte MO 0
Pulaski MO 0
Randolph MO 0
St. Charles MO 0
St. Louis MO 0
St. Louis city MO 1
Cascade MT 0
Flathead MT 0
Gallatin MT 0
Lewis and Clark MT 0
Missoula MT 0
Ravalli MT 0
Yellowstone MT 0
Cass NE 0
Dawson NE 0
Dodge NE 0
Douglas NE 0
Gage NE 0
Hall NE 0
Lancaster NE 0
Lincoln NE 0
Madison NE 0
Otoe NE 0
Platte NE 0
Sarpy NE 0
Saunders NE 0
Scotts Bluff NE 0
Seward NE 0
Washington NE 0
Churchill NV 1
Clark NV 1
Douglas NV 1
Elko NV 1
Humboldt NV 1
Lyon NV 1
Nye NV 1
Washoe NV 1
Carson City NV 1
Belknap NH 1
Cheshire NH 0
Grafton NH 0
Hillsborough NH 0
Merrimack NH 0
Rockingham NH 0
Strafford NH 0
Atlantic NJ 1
Bergen NJ 0
Burlington NJ 0
Camden NJ 0
Cape May NJ 0
Cumberland NJ 0
Essex NJ 1
Gloucester NJ 0
Hudson NJ 1
Hunterdon NJ 0
Mercer NJ 0
Middlesex NJ 0
Monmouth NJ 0
Morris NJ 0
Ocean NJ 0
Passaic NJ 1
Salem NJ 0
Somerset NJ 0
Sussex NJ 0
Union NJ 1
Warren NJ 0
Bernalillo NM 0
Chaves NM 0
Dona Ana NM 1
Eddy NM 0
Los Alamos NM 1
Otero NM 0
Sandoval NM 0
Santa Fe NM 0
Valencia NM 0
Albany NY 0
Allegany NY 0
Bronx NY 0
Broome NY 0
Cattaraugus NY 0
Cayuga NY 1
Chautauqua NY 0
Chemung NY 0
Chenango NY 0
Clinton NY 0
Columbia NY 0
Cortland NY 0
Delaware NY 0
Dutchess NY 0
Erie NY 0
Essex NY 0
Franklin NY 0
Fulton NY 0
Genesee NY 0
Greene NY 0
Herkimer NY 0
Jefferson NY 0
Kings NY 0
Livingston NY 0
Madison NY 0
Monroe NY 0
Montgomery NY 0
Nassau NY 0
New York NY 0
Niagara NY 0
Oneida NY 0
Onondaga NY 0
Ontario NY 0
Orange NY 1
Orleans NY 0
Oswego NY 0
Otsego NY 0
Putnam NY 0
Queens NY 0
Rensselaer NY 0
Richmond NY 0
Rockland NY 0
St. Lawrence NY 0
Saratoga NY 0
Schenectady NY 0
Schoharie NY 0
Seneca NY 0
Steuben NY 0
Suffolk NY 0
Sullivan NY 1
Tioga NY 0
Tompkins NY 0
Ulster NY 0
Warren NY 0
Washington NY 0
Wayne NY 0
Westchester NY 0
Wyoming NY 0
Yates NY 0
Alamance NC 0
Brunswick NC 0
Buncombe NC 0
Burke NC 0
Cabarrus NC 0
Caldwell NC 0
Carteret NC 0
Catawba NC 0
Chatham NC 0
Cherokee NC 0
Cleveland NC 0
Craven NC 0
Cumberland NC 0
Currituck NC 0
Dare NC 0
Davidson NC 0
Davie NC 0
Durham NC 0
Forsyth NC 0
Franklin NC 0
Gaston NC 0
Granville NC 0
Guilford NC 0
Harnett NC 0
Haywood NC 0
Henderson NC 0
Hoke NC 0
Iredell NC 0
Jackson NC 0
Johnston NC 0
Lee NC 0
Lincoln NC 0
Macon NC 0
Mecklenburg NC 0
Moore NC 0
Nash NC 0
New Hanover NC 0
Onslow NC 0
Orange NC 0
Pasquotank NC 0
Pender NC 0
Pitt NC 0
Randolph NC 0
Robeson NC 0
Rockingham NC 0
Rowan NC 0
Stanly NC 0
Stokes NC 0
Surry NC 0
Transylvania NC 0
Union NC 0
Wake NC 0
Watauga NC 0
Wayne NC 0
Wilson NC 0
Burleigh ND 0
Cass ND 0
Grand Forks ND 0
Morton ND 0
Ward ND 0
Adams OH 0
Allen OH 0
Ashland OH 0
Ashtabula OH 0
Athens OH 0
Auglaize OH 1
Belmont OH 0
Brown OH 1
Butler OH 0
Carroll OH 1
Champaign OH 0
Clark OH 0
Clermont OH 0
Clinton OH 0
Columbiana OH 0
Coshocton OH 1
Crawford OH 1
Cuyahoga OH 1
Darke OH 0
Defiance OH 0
Delaware OH 0
Erie OH 0
Fairfield OH 0
Fayette OH 0
Franklin OH 0
Fulton OH 1
Gallia OH 0
Geauga OH 1
Greene OH 0
Hamilton OH 0
Hancock OH 0
Henry OH 0
Highland OH 0
Huron OH 1
Jackson OH 0
Jefferson OH 0
Knox OH 0
Lake OH 0
Lawrence OH 0
Licking OH 0
Logan OH 0
Lorain OH 1
Lucas OH 1
Madison OH 0
Mahoning OH 0
Medina OH 0
Mercer OH 0
Miami OH 0
Montgomery OH 0
Morrow OH 0
Muskingum OH 0
Ottawa OH 0
Perry OH 0
Pickaway OH 0
Portage OH 0
Preble OH 0
Richland OH 1
Ross OH 0
Sandusky OH 1
Shelby OH 0
Stark OH 1
Summit OH 1
Trumbull OH 0
Tuscarawas OH 0
Union OH 0
Warren OH 0
Washington OH 0
Wayne OH 0
Williams OH 1
Wood OH 0
Beckham OK 0
Bryan OK 0
Canadian OK 0
Carter OK 0
Cherokee OK 0
Cleveland OK 0
Comanche OK 0
Creek OK 0
Custer OK 0
Delaware OK 0
Garfield OK 0
Grady OK 0
Jackson OK 0
Kay OK 0
Le Flore OK 0
Lincoln OK 0
Logan OK 0
McClain OK 0
Mayes OK 0
Muskogee OK 0
Oklahoma OK 0
Okmulgee OK 0
Osage OK 0
Ottawa OK 0
Payne OK 0
Pittsburg OK 0
Pontotoc OK 0
Pottawatomie OK 0
Rogers OK 0
Sequoyah OK 0
Stephens OK 0
Texas OK 0
Tulsa OK 0
Wagoner OK 0
Washington OK 0
Woodward OK 0
Baker OR 0
Benton OR 0
Clackamas OR 0
Clatsop OR 0
Columbia OR 0
Coos OR 0
Crook OR 0
Deschutes OR 1
Douglas OR 0
Hood River OR 0
Jackson OR 1
Josephine OR 1
Klamath OR 1
Lane OR 0
Lincoln OR 0
Linn OR 0
Malheur OR 1
Marion OR 0
Multnomah OR 0
Polk OR 0
Tillamook OR 0
Umatilla OR 0
Wasco OR 0
Washington OR 0
Yamhill OR 0
Adams PA 0
Allegheny PA 0
Beaver PA 0
Bedford PA 0
Berks PA 0
Blair PA 0
Bucks PA 0
Butler PA 0
Cambria PA 0
Carbon PA 0
Centre PA 0
Chester PA 0
Clinton PA 0
Columbia PA 0
Cumberland PA 0
Dauphin PA 0
Delaware PA 0
Erie PA 0
Fayette PA 0
Lackawanna PA 0
Lancaster PA 0
Lawrence PA 0
Lebanon PA 0
Lehigh PA 0
Luzerne PA 0
Monroe PA 0
Montgomery PA 0
Northampton PA 0
Perry PA 0
Philadelphia PA 0
Schuylkill PA 0
Somerset PA 0
Washington PA 0
Wayne PA 0
Westmoreland PA 0
York PA 0
Bristol RI 1
Kent RI 1
Newport RI 1
Providence RI 1
Washington RI 1
Aiken SC 0
Anderson SC 0
Beaufort SC 0
Berkeley SC 0
Charleston SC 0
Cherokee SC 1
Darlington SC 0
Dorchester SC 0
Florence SC 0
Georgetown SC 0
Greenville SC 0
Horry SC 1
Kershaw SC 0
Lancaster SC 0
Lexington SC 0
Oconee SC 0
Orangeburg SC 1
Pickens SC 0
Richland SC 0
Spartanburg SC 0
Sumter SC 0
York SC 0
Codington SD 0
Davison SD 0
Minnehaha SD 0
Pennington SD 0
Union SD 0
Anderson TN 0
Bedford TN 0
Blount TN 0
Bradley TN 0
Campbell TN 0
Carroll TN 0
Carter TN 0
Cheatham TN 0
Claiborne TN 0
Cocke TN 0
Coffee TN 0
Cumberland TN 0
Davidson TN 0
DeKalb TN 0
Dickson TN 0
Dyer TN 0
Fayette TN 0
Franklin TN 0
Gibson TN 0
Giles TN 0
Greene TN 0
Hamblen TN 0
Hamilton TN 0
Hardin TN 0
Hawkins TN 0
Henderson TN 0
Henry TN 1
Hickman TN 0
Humphreys TN 0
Jefferson TN 0
Knox TN 0
Lawrence TN 0
Lincoln TN 0
Loudon TN 0
McMinn TN 0
Macon TN 0
Madison TN 0
Marion TN 0
Marshall TN 0
Maury TN 0
Monroe TN 0
Montgomery TN 0
Putnam TN 0
Rhea TN 0
Roane TN 0
Robertson TN 0
Rutherford TN 0
Sevier TN 0
Shelby TN 1
Smith TN 0
Sullivan TN 0
Sumner TN 0
Tipton TN 0
Unicoi TN 0
Warren TN 0
Washington TN 0
Weakley TN 0
White TN 0
Williamson TN 0
Wilson TN 0
Angelina TX 0
Bastrop TX 0
Bell TX 0
Bexar TX 0
Brazoria TX 0
Brazos TX 0
Burnet TX 0
Cameron TX 0
Chambers TX 0
Collin TX 0
Comal TX 0
Dallas TX 0
Denton TX 0
Ector TX 0
Ellis TX 0
El Paso TX 0
Fort Bend TX 0
Galveston TX 0
Grayson TX 0
Gregg TX 0
Guadalupe TX 0
Hardin TX 0
Harris TX 0
Hays TX 0
Henderson TX 0
Hidalgo TX 0
Hood TX 0
Hunt TX 0
Jefferson TX 0
Johnson TX 0
Kaufman TX 1
Kendall TX 0
Lubbock TX 0
McLennan TX 0
Midland TX 0
Montgomery TX 0
Navarro TX 0
Nueces TX 0
Orange TX 0
Parker TX 0
Potter TX 0
Randall TX 0
Rockwall TX 0
San Patricio TX 0
Smith TX 0
Tarrant TX 0
Taylor TX 0
Tom Green TX 0
Travis TX 0
Victoria TX 0
Webb TX 0
Wichita TX 0
Williamson TX 0
Wilson TX 0
Wise TX 0
Box Elder UT 0
Davis UT 0
Iron UT 0
Salt Lake UT 0
Summit UT 0
Tooele UT 0
Uintah UT 0
Utah UT 0
Washington UT 1
Weber UT 0
Chittenden VT 0
Franklin VT 0
Rutland VT 0
Washington VT 0
Albemarle VA 0
Amherst VA 0
Arlington VA 0
Augusta VA 0
Botetourt VA 0
Campbell VA 0
Caroline VA 0
Chesterfield VA 0
Culpeper VA 1
Fairfax VA 1
Fauquier VA 1
Franklin VA 0
Frederick VA 1
Gloucester VA 0
Hanover VA 0
Henrico VA 0
James City VA 0
King George VA 1
Loudoun VA 1
Montgomery VA 0
New Kent VA 0
Orange VA 1
Powhatan VA 0
Prince George VA 0
Prince William VA 1
Roanoke VA 0
Rockingham VA 0
Shenandoah VA 1
Spotsylvania VA 1
Stafford VA 1
Warren VA 1
York VA 0
Alexandria city VA 0
Charlottesville city VA 0
Chesapeake city VA 0
Colonial Heights city VA 0
Fredericksburg city VA 1
Hampton city VA 0
Hopewell city VA 0
Lynchburg city VA 0
Manassas city VA 1
Martinsville city VA 0
Newport News city VA 0
Norfolk city VA 0
Portsmouth city VA 0
Richmond city VA 0
Roanoke city VA 0
Salem city VA 0
Staunton city VA 0
Suffolk city VA 0
Virginia Beach city VA 0
Winchester city VA 1
Asotin WA 0
Benton WA 0
Chelan WA 0
Clark WA 1
Cowlitz WA 0
Douglas WA 0
Franklin WA 0
Grant WA 0
Grays Harbor WA 0
Island WA 0
Jefferson WA 0
King WA 0
Kitsap WA 0
Kittitas WA 0
Lewis WA 0
Mason WA 0
Okanogan WA 0
Pierce WA 0
Skagit WA 0
Snohomish WA 0
Spokane WA 0
Stevens WA 0
Thurston WA 0
Walla Walla WA 0
Whatcom WA 0
Yakima WA 0
Berkeley WV 1
Jefferson WV 1
Kanawha WV 0
Monongalia WV 0
Wood WV 0
Adams WI 0
Barron WI 0
Brown WI 0
Chippewa WI 0
Columbia WI 0
Dane WI 0
Dodge WI 0
Door WI 0
Douglas WI 0
Dunn WI 0
Eau Claire WI 0
Fond du Lac WI 0
Grant WI 0
Green WI 0
Iowa WI 0
Jefferson WI 0
Kenosha WI 0
La Crosse WI 0
Manitowoc WI 0
Marathon WI 0
Marinette WI 0
Milwaukee WI 1
Monroe WI 0
Oconto WI 0
Oneida WI 0
Outagamie WI 0
Ozaukee WI 0
Pierce WI 0
Polk WI 0
Portage WI 0
Racine WI 0
Rock WI 0
St. Croix WI 1
Sauk WI 0
Shawano WI 0
Sheboygan WI 0
Walworth WI 0
Washington WI 0
Waukesha WI 0
Waupaca WI 0
Winnebago WI 0
Wood WI 0
Laramie WY 0
Natrona WY 0

Note: Counties with a value of "1" in the "Housing bust" column are areas identified as housing-bust counties, which are defined as the 25 percent of counties with the steepest house price declines from December 2006 to December 2008. Counties with a value of "0" in the "Housing bust" column are areas identified as non-housing-bust counties. For counties not listed, data are not available.

Source: House price index data from CoreLogic.

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Last update: December 9, 2013