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Maps & Data

Home Mortgage Data:
2011 Housing Market Conditions and High-Cost Mortgage Lending


Released January 2014

Resources | Importance | How to use | Additional resources
Resources
  • Data tables - Tables of home mortgage data in two versions: 'formatted' tables, which includes clear labels for quickly looking up facts, and 'unformatted' tables, which have labels that are more suited for use in statistical software.
  • HMDA Housing Market Conditions map [link]
  • High-Cost Mortgage Lending map [link]
  • Urban Institute’s Home Mortgage Disclosure Act Guide: Summary page [link] or direct link to PDF

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Why the data are important

As with foreclosures, having access to local home sales data from publicly available sources is the ideal situation to monitor neighborhood housing markets, but Home Mortgage Disclosure Act data offers low-cost, nationally available indicators that can help local communities understand the foreclosure problem and begin to think about effective responses.

The Home Mortgage Disclosure Act (HMDA) requires most lending institutions to report mortgage loan applications, including the outcome of the application, information about the loan, and location of the property. The Federal Financial Institutions Examination Council (FFIEC) collects this data in order to determine whether financial institutions are meeting a community's housing credit needs; to target community development funds to attract private investment; and to identify possible discriminatory lending patterns.

  • Housing market conditions: An understanding of local housing market conditions is important for targeting resources and crafting neighborhood recovery strategies that will work based on the neighborhood's circumstances. (Click here to view the Policy Guide section on developing a neighborhood typology.) The dataset includes indicators of the volume of lending and median loan amount from the most recent HMDA data available. Lending volume and median loan amounts generally reflect the demand for housing in a given area. The data and maps are available through the resource list at the top of the page.

  • High-Cost Mortgage Lending: The density of high-cost purchase loans in an area can be used as a close proxy for the density of foreclosures. This indicator set includes the rate of total and non-owner-occupant mortgage loans with high costs from 2004 to 2006. These high-cost loans have higher interest rates and are more likely to be at risk of foreclosure than loans with lower interest rates. We use the sum of all loans for 2004 to 2006 because this period is the peak of the lending boom and to smooth out year-to-year variation for smaller areas like census tracts. Indicators of high-cost refinancing are also included. The data and maps are available through the resource list at the top of the page.

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How to use these resources

The data available through this page are packaged in two different ways depending on how you want to use the data: formatted tables and unformatted tables.

The formatted tables have descriptive labels for each variable that make them more useful for quickly looking up information and creating summaries. The unformatted files have variable names that make them more suitable for use in statistical software packages such as R or STATA and include a data dictionary. Both types of table include data at the census tract, place, county, and metropolitan area geographies.

The mapping tools associated with these data have documentation on their individual pages.

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Additional resources

The data are derived from the FFIEC-provided HMDA loan data and provide indicators for census tracts and other larger geographies. Click here for more information about HMDA from the FFIEC website, or click here to view the Urban Institute's HMDA Guide. The FFIEC web site also provides access to loan-level data if you are interested in doing your own more detailed analysis.

Interested in other historical data? You can also access 2010, 2009, 2008, and 2007 HMDA data files.

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