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Where Have All the Loans Gone? The Impact of Credit Availability on Mortgage Volume

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Document date: March 13, 2014
Released online: March 13, 2014
The total number of purchase mortgages originated in 2012 is considerably less than half of peak levels, and down 44% from the 2001 levels. The authors estimate that a large portion of the drop-as many as 1.2 million loans in 2012 alone-can be attributed to low credit availability, and find that African American and Hispanic borrowers have been disproportionately affected by the credit box tightening.


Topics/Tags: | Housing


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