California FHA SF Loans, July 2009: $5.2 BILLION in One Month.

I was blown away by the record setting projected $4-5 Billion in CY 2009 FHA SF loan volume in Oregon in my post yesterday (HERE).

I thought it would be interesting to take a look at California FHA SF loan volume in July to put the Oregon FHA volume in context.

WOW!!2: Californian numbers were equally/more stunning, especially since 3 years or so ago there was virtually NO FHA loan volume in California because FHA loan limits were so low.

Short version is that California did in ONE month what Oregon is likely to do for the full calendar year 2009. For more details take a look at this summary of July 2009 FHA loan activity in California (forgive less than perfect table formatting, it's a work in progress):

California July 2009 FHA SF Loan Summary
Loan Type	# Loans	Insured $$	Per Loan Average
Total Loans	19,163	$5,247,340,504	$ 273,827
Purchase/Refi Subtotal	17,546	$4,485,326,797	$ 255,632
PURCHASE Loans	13,430	$3,208,801,910	$ 238,928
REFI Loans	4,116	$1,276,524,887	$ 310,137
HECM Loans	1,617	$ 762,013,707	$ 471,252

Pretty amazing, no?

Originally created and posted on the Oregon Housing Blog