Half Way Through CY 2010 Oregon FHA SF Loans: $2.2 Billion Loans to 10,850 Families: Purchase Loans Trending Up, Refinance Loans Down.

I have prepared a summary table by Oregon county and loan type of FHA SF loans in Oregon for CY 2010 through the first half of the CY (June). That county level and statewide total table is HERE.

I have also prepared for the same time period a graph HERE which shows the monthly breakout of the statewide total of FHA loans by loan type.

Some observations:

1. With half the calendar year gone, more than $2.2 billion in FHA SF loans had been made, for 10,850 families. Projected out to end of year that would be more than $4.4 billion, 21,500+families. (However, unless home purchase loans remain strong through the end of the year I expect total CY 2010 loan volume will be less than the straight line projection).
2. Refinancing, including HECM activity, has been dropping for several months, from around 1,170 in January to 475 in June.
3. Conversely, home purchase loans have been accelerating, topping 1,400 in June vs. about 980 in January.
4. The 5 county Portland metro area accounts for around 59% of purchase and refi loans, but only 37% of HECM loans. Outside of the Portland metro area Deschutes, Douglas, Jackson, Josephine, Lane, Lincoln, and Marion all had $10 million+ in FHA HECM loans.  

Originally created and posted on the Oregon Housing Blog.