2009 HMDA Oregon Owner Occupied 1-4 Family Summary by County: Home Purchase Loans Were DOWN (Except for FHA) , Refinances WAY Up.

I took a look at the recent Oregon HMDA 2009 data I recently posted (prior post HERE). 

I compared that data with 2008 HMDA data and did a COUNTY and STATE level PDF table HERE that compares data for 2009 and 2008 using these filters: 

1. Loan Originations
2. Owner Occupied
3. 1- 4 family properties 
4. ALL loan sources, with a FHA subtotal.

(Table is formatted as legal to fit all the columns). 

Some observations:

1. Total volume from all sources was up 50%, but this was because refinances were up by 82%, while home purchase loans from all sources declined by 4%.
2. Total volume for FHA was up 55%, because FHA home purchase volume was UP by 60%, while refinances increased by only 50%.
3. Calculating from data on the chart, FHA share of home purchases increased to 39% in 2009 from 23% in 2008; FHA share of refinances declined to 12% in 2009, down from 14% in 2008; FHA share of Purch+Refi increased marginally from 17.6% in 2008 to 18.3% in 2009.
4. More than 3 out of every four (76%) HMDA loans originated in 2009 in Oregon was a REFINANCE. (88,306/116,610). In 2008, refinances represented only 62% of all loans originated (48,454/77,815).

Originally created and posted on the Oregon Housing Blog.