![]() Statistical Supplement | February 2005 Statistical Supplement to the Federal Reserve Bulletin, February 2005 |
Millions of dollars except as noted | |||||||||||
Item | 2002 |
2003 |
2004 |
2004 | |||||||
---|---|---|---|---|---|---|---|---|---|---|---|
June | July | Aug | Sept | Oct | Nov | Dec | |||||
Terms and yields in primary and secondary markets | |||||||||||
Primary Markets | |||||||||||
Terms1 | |||||||||||
1 | Purchase price (thousands of dollars) | 261.1 | 272.1 | 292.0 | 288.1 | 289.2 | 297.5 | 301.5 | 297.6 | 304.8 | 305.5 |
2 | Amount of loan (thousands of dollars) | 197.0 | 205.3 | 215.0 | 213.2 | 214.1 | 221.8 | 225.1 | 218.7 | 224.3 | 227.0 |
3 | Loan-to-price ratio (percent) | 77.8 | 77.9 | 76.0 | 75.8 | 76.2 | 76.9 | 77.0 | 76.0 | 75.7 | 76.6 |
4 | Maturity (years) | 28.9 | 28.7 | 28.8 | 28.6 | 28.9 | 29.1 | 29.2 | 29.0 | 29.2 | 28.8 |
5 | Fees and charges (percent of loan amount)2 | .62 | .61 | .51 | .50 | .48 | .48 | .57 | .47 | .49 | .50 |
Yield (percent per year) | |||||||||||
6 | Contract rate1 | 6.35 | 5.71 | 5.68 | 5.73 | 5.89 | 5.81 | 5.63 | 5.75 | 5.84 | 5.94 |
7 | Effective rate1, 3 | 6.44 | 5.80 | 5.75 | 5.81 | 5.96 | 5.88 | 5.72 | 5.82 | 5.91 | 6.02 |
8 | Contract rate (HUD series)4 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Secondary Markets | |||||||||||
Yield (percent per year) | |||||||||||
9 | FHA mortgages (section 203)5 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
10 | GNMA securities6 | 5.81 | 5.03 | 5.19 | 5.66 | 5.43 | 5.22 | 5.09 | 5.02 | 5.01 | 5.03 |
Activity in secondary markets | |||||||||||
Federal National Mortgage Association | |||||||||||
Mortgage holdings (end of period) | |||||||||||
11 | Total | 794,253 | 898,445 | 904,555 | 891,210 | 892,724 | 895,428 | 904,543 | 913,246 | 912,608 | 904,555 |
12 | FHA/VA insured | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
13 | Conventional | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
14 | Mortgage transactions purchased (during period) | 370,641 | 572,852 | 262,646 | 37,164 | 21,618 | 21,787 | 27,661 | 27,142 | 19,121 | 13,016 |
Mortgage commitments (during period) | |||||||||||
15 | Issued7 | 400,327 | 522,083 | 149,429 | 32,084 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
16 | To sell8 | 12,268 | 33,010 | 8,828 | 2,415 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Federal Home Loan Mortgage Corporation | |||||||||||
Mortgage holdings (end of period)8 | |||||||||||
17 | Total | 568,173 | 644,436 | 653,641 | 645,185 | 656,342 | 661,358 | 660,713 | 660,301 | 656,982 | 653,641 |
18 | FHA/VA insured | 4,573 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
19 | Conventional | 563,600 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Mortgage transactions (during period) | |||||||||||
20 | Purchases | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
21 | Sales | 547,046 | 713,260 | 365,148 | 39,022 | 30,709 | 23,461 | 23,586 | 26,541 | 23,207 | 27,953 |
22 | Mortgage commitments contracted (during period)9 | 620,981 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing Finance Board in cooperation with the Federal Deposit Insurance Corporation. Return to table 2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the seller) to obtain a loan. Return to table 3. Average effective interest rate on loans closed for purchase of newly built homes, assuming prepayment at the end of ten years. Return to table 4. Average contract rate on new commitments for conventional first mortgages; from U.S. Department of Housing and Urban Development (HUD). Based on transactions on the first day of the subsequent month. Return to table 5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by the Federal Housing Administration (FHA) for immediate delivery in the private secondary market. Based on transactions on first day of subsequent month. Return to table 6. Average net yields to investors on fully modified pass-through securities backed by mortgages and guaranteed by the Government National Mortgage Association (GNMA), assuming prepayment in twelve years on pools of thirty-year mortgages insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs. Return to table 7. Does not include standby commitments issued, but includes standby commitments converted. Return to table 8. Includes participation loans as well as whole loans. Return to table 9. Includes conventional and government-underwritten loans. The Federal Home Loan Mortgage Corporation's mortgage commitments and mortgage transactions include activity under mortgage securities swap programs, whereas the corresponding data for the Federal National Mortgage Association exclude swap activity. Return to table |
Statistical Supplement | February 2005 | Tips for printing wide tables | Symbols and Abbreviations