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home purchaser rise?

By
Industry Observer with Howard Sumner Consulting

Lending institutions are require to report activity under “HMDA” this does not of course cover all activity within the market place, yet produces some interesting information to ponder

2005  you had 11,672,852 loan applications  versus 7,382,012 loans received

or a  63% success rate for completing a loan

2011 you had 3,816,222 loan applications  versus 2,416,874 loans received

or a  63% success rate for completing a loan

From 2005 to 2011 you have a drop of 67.3% in loan applications and a 67.25% drop in loans received

Using the information from Data Quick that shows home sales in 2012 up 14.6% from a year ago would mean 2,769,737 loan received  and still showing a drop of 62.48% from the peak in 2005

So the thought to ponder ………….. the “HMDA” is not produced by a cheer leading group and neither is the Data Quick information

#1 does this information give understanding of why the federal reserve is buying 2/3rd”S of all mortgages created in the United State and we have historically low interest rates

#2 who is trying to fool whom into buying the swamp land of a housing “recovering”?