Changing FHA Mortgage Insurance Premiums and the Effects on Lending, Accessible Data
PrintAccessible version of figures
Figure 1: FHA Share of Home Purchase Loans by Application Date
| Week of | FHA Share |
|---|---|
| 1-Jan-08 | 0.172 |
| 8-Jan-08 | 0.179 |
| 15-Jan-08 | 0.197 |
| 22-Jan-08 | 0.194 |
| 29-Jan-08 | 0.211 |
| 5-Feb-08 | 0.214 |
| 12-Feb-08 | 0.230 |
| 19-Feb-08 | 0.232 |
| 26-Feb-08 | 0.241 |
| 4-Mar-08 | 0.260 |
| 11-Mar-08 | 0.272 |
| 18-Mar-08 | 0.262 |
| 25-Mar-08 | 0.285 |
| 1-Apr-08 | 0.298 |
| 8-Apr-08 | 0.299 |
| 15-Apr-08 | 0.306 |
| 22-Apr-08 | 0.301 |
| 29-Apr-08 | 0.301 |
| 6-May-08 | 0.299 |
| 13-May-08 | 0.301 |
| 20-May-08 | 0.306 |
| 27-May-08 | 0.308 |
| 3-Jun-08 | 0.314 |
| 10-Jun-08 | 0.322 |
| 17-Jun-08 | 0.327 |
| 24-Jun-08 | 0.329 |
| 1-Jul-08 | 0.336 |
| 8-Jul-08 | 0.340 |
| 15-Jul-08 | 0.351 |
| 22-Jul-08 | 0.355 |
| 29-Jul-08 | 0.361 |
| 5-Aug-08 | 0.377 |
| 12-Aug-08 | 0.387 |
| 19-Aug-08 | 0.403 |
| 26-Aug-08 | 0.415 |
| 2-Sep-08 | 0.393 |
| 9-Sep-08 | 0.371 |
| 16-Sep-08 | 0.374 |
| 23-Sep-08 | 0.360 |
| 30-Sep-08 | 0.365 |
| 7-Oct-08 | 0.368 |
| 14-Oct-08 | 0.367 |
| 21-Oct-08 | 0.369 |
| 28-Oct-08 | 0.385 |
| 4-Nov-08 | 0.386 |
| 11-Nov-08 | 0.387 |
| 18-Nov-08 | 0.395 |
| 25-Nov-08 | 0.374 |
| 2-Dec-08 | 0.398 |
| 9-Dec-08 | 0.401 |
| 16-Dec-08 | 0.411 |
| 23-Dec-08 | 0.402 |
| 1-Jan-09 | 0.394 |
| 8-Jan-09 | 0.396 |
| 15-Jan-09 | 0.412 |
| 22-Jan-09 | 0.409 |
| 29-Jan-09 | 0.418 |
| 5-Feb-09 | 0.422 |
| 12-Feb-09 | 0.421 |
| 19-Feb-09 | 0.430 |
| 26-Feb-09 | 0.439 |
| 5-Mar-09 | 0.432 |
| 12-Mar-09 | 0.436 |
| 19-Mar-09 | 0.422 |
| 26-Mar-09 | 0.420 |
| 2-Apr-09 | 0.420 |
| 9-Apr-09 | 0.418 |
| 16-Apr-09 | 0.418 |
| 23-Apr-09 | 0.412 |
| 30-Apr-09 | 0.413 |
| 7-May-09 | 0.405 |
| 14-May-09 | 0.402 |
| 21-May-09 | 0.404 |
| 28-May-09 | 0.411 |
| 4-Jun-09 | 0.408 |
| 11-Jun-09 | 0.409 |
| 18-Jun-09 | 0.415 |
| 25-Jun-09 | 0.415 |
| 2-Jul-09 | 0.409 |
| 9-Jul-09 | 0.413 |
| 16-Jul-09 | 0.422 |
| 23-Jul-09 | 0.425 |
| 30-Jul-09 | 0.428 |
| 6-Aug-09 | 0.438 |
| 13-Aug-09 | 0.431 |
| 20-Aug-09 | 0.434 |
| 27-Aug-09 | 0.439 |
| 3-Sep-09 | 0.438 |
| 10-Sep-09 | 0.439 |
| 17-Sep-09 | 0.447 |
| 24-Sep-09 | 0.440 |
| 1-Oct-09 | 0.441 |
| 8-Oct-09 | 0.444 |
| 15-Oct-09 | 0.438 |
| 22-Oct-09 | 0.435 |
| 29-Oct-09 | 0.426 |
| 5-Nov-09 | 0.415 |
| 12-Nov-09 | 0.393 |
| 19-Nov-09 | 0.391 |
| 26-Nov-09 | 0.397 |
| 3-Dec-09 | 0.412 |
| 10-Dec-09 | 0.414 |
| 17-Dec-09 | 0.411 |
| 24-Dec-09 | 0.419 |
| 1-Jan-10 | 0.423 |
| 8-Jan-10 | 0.421 |
| 15-Jan-10 | 0.431 |
| 22-Jan-10 | 0.433 |
| 29-Jan-10 | 0.440 |
| 5-Feb-10 | 0.440 |
| 12-Feb-10 | 0.442 |
| 19-Feb-10 | 0.442 |
| 26-Feb-10 | 0.436 |
| 5-Mar-10 | 0.442 |
| 12-Mar-10 | 0.434 |
| 19-Mar-10 | 0.438 |
| 26-Mar-10 | 0.458 |
| 2-Apr-10 | 0.434 |
| 9-Apr-10 | 0.434 |
| 16-Apr-10 | 0.445 |
| 23-Apr-10 | 0.445 |
| 30-Apr-10 | 0.438 |
| 7-May-10 | 0.412 |
| 14-May-10 | 0.404 |
| 21-May-10 | 0.396 |
| 28-May-10 | 0.397 |
| 4-Jun-10 | 0.394 |
| 11-Jun-10 | 0.392 |
| 18-Jun-10 | 0.389 |
| 25-Jun-10 | 0.393 |
| 2-Jul-10 | 0.388 |
| 9-Jul-10 | 0.391 |
| 16-Jul-10 | 0.392 |
| 23-Jul-10 | 0.396 |
| 30-Jul-10 | 0.395 |
| 6-Aug-10 | 0.394 |
| 13-Aug-10 | 0.397 |
| 20-Aug-10 | 0.397 |
| 27-Aug-10 | 0.397 |
| 3-Sep-10 | 0.391 |
| 10-Sep-10 | 0.393 |
| 17-Sep-10 | 0.393 |
| 24-Sep-10 | 0.408 |
| 1-Oct-10 | 0.379 |
| 8-Oct-10 | 0.366 |
| 15-Oct-10 | 0.364 |
| 22-Oct-10 | 0.366 |
| 29-Oct-10 | 0.365 |
| 5-Nov-10 | 0.373 |
| 12-Nov-10 | 0.363 |
| 19-Nov-10 | 0.365 |
| 26-Nov-10 | 0.372 |
| 3-Dec-10 | 0.370 |
| 10-Dec-10 | 0.373 |
| 17-Dec-10 | 0.365 |
| 24-Dec-10 | 0.379 |
| 1-Jan-11 | 0.377 |
| 8-Jan-11 | 0.381 |
| 15-Jan-11 | 0.380 |
| 22-Jan-11 | 0.383 |
| 29-Jan-11 | 0.388 |
| 5-Feb-11 | 0.393 |
| 12-Feb-11 | 0.396 |
| 19-Feb-11 | 0.388 |
| 26-Feb-11 | 0.391 |
| 5-Mar-11 | 0.385 |
| 12-Mar-11 | 0.382 |
| 19-Mar-11 | 0.386 |
| 26-Mar-11 | 0.399 |
| 2-Apr-11 | 0.380 |
| 9-Apr-11 | 0.400 |
| 16-Apr-11 | 0.329 |
| 23-Apr-11 | 0.338 |
| 30-Apr-11 | 0.339 |
| 7-May-11 | 0.340 |
| 14-May-11 | 0.339 |
| 21-May-11 | 0.338 |
| 28-May-11 | 0.333 |
| 4-Jun-11 | 0.335 |
| 11-Jun-11 | 0.334 |
| 18-Jun-11 | 0.337 |
| 25-Jun-11 | 0.339 |
| 2-Jul-11 | 0.338 |
| 9-Jul-11 | 0.337 |
| 16-Jul-11 | 0.336 |
| 23-Jul-11 | 0.333 |
| 30-Jul-11 | 0.337 |
| 6-Aug-11 | 0.340 |
| 13-Aug-11 | 0.340 |
| 20-Aug-11 | 0.347 |
| 27-Aug-11 | 0.348 |
| 3-Sep-11 | 0.346 |
| 10-Sep-11 | 0.351 |
| 17-Sep-11 | 0.349 |
| 24-Sep-11 | 0.351 |
| 1-Oct-11 | 0.348 |
| 8-Oct-11 | 0.356 |
| 15-Oct-11 | 0.349 |
| 22-Oct-11 | 0.348 |
| 29-Oct-11 | 0.343 |
| 5-Nov-11 | 0.355 |
| 12-Nov-11 | 0.346 |
| 19-Nov-11 | 0.338 |
| 26-Nov-11 | 0.353 |
| 3-Dec-11 | 0.353 |
| 10-Dec-11 | 0.347 |
| 17-Dec-11 | 0.345 |
| 24-Dec-11 | 0.354 |
| 1-Jan-12 | 0.349 |
| 8-Jan-12 | 0.349 |
| 15-Jan-12 | 0.348 |
| 22-Jan-12 | 0.346 |
| 29-Jan-12 | 0.346 |
| 5-Feb-12 | 0.348 |
| 12-Feb-12 | 0.343 |
| 19-Feb-12 | 0.343 |
| 26-Feb-12 | 0.341 |
| 4-Mar-12 | 0.342 |
| 11-Mar-12 | 0.334 |
| 18-Mar-12 | 0.337 |
| 25-Mar-12 | 0.351 |
| 1-Apr-12 | 0.345 |
| 8-Apr-12 | 0.272 |
| 15-Apr-12 | 0.284 |
| 22-Apr-12 | 0.286 |
| 29-Apr-12 | 0.287 |
| 6-May-12 | 0.288 |
| 13-May-12 | 0.284 |
| 20-May-12 | 0.284 |
| 27-May-12 | 0.284 |
| 3-Jun-12 | 0.285 |
| 10-Jun-12 | 0.285 |
| 17-Jun-12 | 0.283 |
| 24-Jun-12 | 0.284 |
| 1-Jul-12 | 0.283 |
| 8-Jul-12 | 0.283 |
| 15-Jul-12 | 0.287 |
| 22-Jul-12 | 0.281 |
| 29-Jul-12 | 0.289 |
| 5-Aug-12 | 0.286 |
| 12-Aug-12 | 0.287 |
| 19-Aug-12 | 0.286 |
| 26-Aug-12 | 0.286 |
| 2-Sep-12 | 0.290 |
| 9-Sep-12 | 0.287 |
| 16-Sep-12 | 0.284 |
| 23-Sep-12 | 0.284 |
| 30-Sep-12 | 0.287 |
| 7-Oct-12 | 0.287 |
| 14-Oct-12 | 0.285 |
| 21-Oct-12 | 0.284 |
| 28-Oct-12 | 0.283 |
| 4-Nov-12 | 0.280 |
| 11-Nov-12 | 0.284 |
| 18-Nov-12 | 0.276 |
| 25-Nov-12 | 0.286 |
| 2-Dec-12 | 0.285 |
| 9-Dec-12 | 0.282 |
| 16-Dec-12 | 0.282 |
| 23-Dec-12 | 0.282 |
| 1-Jan-13 | 0.278 |
| 8-Jan-13 | 0.276 |
| 15-Jan-13 | 0.276 |
| 22-Jan-13 | 0.264 |
| 29-Jan-13 | 0.271 |
| 5-Feb-13 | 0.270 |
| 12-Feb-13 | 0.276 |
| 19-Feb-13 | 0.268 |
| 26-Feb-13 | 0.265 |
| 5-Mar-13 | 0.270 |
| 12-Mar-13 | 0.265 |
| 19-Mar-13 | 0.271 |
| 26-Mar-13 | 0.281 |
| 2-Apr-13 | 0.219 |
| 9-Apr-13 | 0.226 |
| 16-Apr-13 | 0.226 |
| 23-Apr-13 | 0.228 |
| 30-Apr-13 | 0.225 |
| 7-May-13 | 0.226 |
| 14-May-13 | 0.226 |
| 21-May-13 | 0.229 |
| 28-May-13 | 0.233 |
| 4-Jun-13 | 0.200 |
| 11-Jun-13 | 0.204 |
| 18-Jun-13 | 0.199 |
| 25-Jun-13 | 0.203 |
| 2-Jul-13 | 0.201 |
| 9-Jul-13 | 0.210 |
| 16-Jul-13 | 0.211 |
| 23-Jul-13 | 0.212 |
| 30-Jul-13 | 0.212 |
| 6-Aug-13 | 0.214 |
| 13-Aug-13 | 0.214 |
| 20-Aug-13 | 0.214 |
| 27-Aug-13 | 0.215 |
| 3-Sep-13 | 0.215 |
| 10-Sep-13 | 0.220 |
| 17-Sep-13 | 0.217 |
| 24-Sep-13 | 0.219 |
| 1-Oct-13 | 0.217 |
| 8-Oct-13 | 0.232 |
| 15-Oct-13 | 0.215 |
| 22-Oct-13 | 0.221 |
| 29-Oct-13 | 0.220 |
| 5-Nov-13 | 0.228 |
| 12-Nov-13 | 0.215 |
| 19-Nov-13 | 0.228 |
| 26-Nov-13 | 0.222 |
| 3-Dec-13 | 0.229 |
| 10-Dec-13 | 0.226 |
| 17-Dec-13 | 0.228 |
| 24-Dec-13 | 0.227 |
| 1-Jan-14 | 0.218 |
| 8-Jan-14 | 0.213 |
| 15-Jan-14 | 0.218 |
| 22-Jan-14 | 0.212 |
| 29-Jan-14 | 0.216 |
| 5-Feb-14 | 0.224 |
| 12-Feb-14 | 0.226 |
| 19-Feb-14 | 0.223 |
| 26-Feb-14 | 0.224 |
| 5-Mar-14 | 0.226 |
| 12-Mar-14 | 0.221 |
| 19-Mar-14 | 0.222 |
| 26-Mar-14 | 0.216 |
| 2-Apr-14 | 0.215 |
| 9-Apr-14 | 0.209 |
| 16-Apr-14 | 0.211 |
| 23-Apr-14 | 0.207 |
| 30-Apr-14 | 0.209 |
| 7-May-14 | 0.206 |
| 14-May-14 | 0.204 |
| 21-May-14 | 0.204 |
| 28-May-14 | 0.205 |
| 4-Jun-14 | 0.208 |
| 11-Jun-14 | 0.209 |
| 18-Jun-14 | 0.209 |
| 25-Jun-14 | 0.205 |
| 2-Jul-14 | 0.208 |
| 9-Jul-14 | 0.205 |
| 16-Jul-14 | 0.206 |
| 23-Jul-14 | 0.207 |
| 30-Jul-14 | 0.213 |
| 6-Aug-14 | 0.209 |
| 13-Aug-14 | 0.209 |
| 20-Aug-14 | 0.209 |
| 27-Aug-14 | 0.206 |
| 3-Sep-14 | 0.212 |
| 10-Sep-14 | 0.215 |
| 17-Sep-14 | 0.215 |
| 24-Sep-14 | 0.216 |
| 1-Oct-14 | 0.216 |
| 8-Oct-14 | 0.216 |
| 15-Oct-14 | 0.212 |
| 22-Oct-14 | 0.216 |
| 29-Oct-14 | 0.221 |
| 5-Nov-14 | 0.227 |
| 12-Nov-14 | 0.214 |
| 19-Nov-14 | 0.218 |
| 26-Nov-14 | 0.214 |
| 3-Dec-14 | 0.227 |
| 10-Dec-14 | 0.221 |
| 17-Dec-14 | 0.217 |
| 24-Dec-14 | 0.217 |
| 1-Jan-15 | 0.216 |
| 8-Jan-15 | 0.217 |
| 15-Jan-15 | 0.235 |
| 22-Jan-15 | 0.251 |
| 29-Jan-15 | 0.259 |
| 5-Feb-15 | 0.261 |
| 12-Feb-15 | 0.268 |
| 19-Feb-15 | 0.270 |
| 26-Feb-15 | 0.270 |
| 5-Mar-15 | 0.273 |
| 12-Mar-15 | 0.267 |
| 19-Mar-15 | 0.261 |
| 26-Mar-15 | 0.260 |
| 2-Apr-15 | 0.261 |
| 9-Apr-15 | 0.254 |
| 16-Apr-15 | 0.258 |
| 23-Apr-15 | 0.257 |
| 30-Apr-15 | 0.256 |
| 7-May-15 | 0.254 |
| 14-May-15 | 0.254 |
| 21-May-15 | 0.256 |
| 28-May-15 | 0.256 |
| 4-Jun-15 | 0.255 |
| 11-Jun-15 | 0.254 |
| 18-Jun-15 | 0.256 |
| 25-Jun-15 | 0.262 |
| 2-Jul-15 | 0.257 |
| 9-Jul-15 | 0.263 |
| 16-Jul-15 | 0.261 |
| 23-Jul-15 | 0.260 |
| 30-Jul-15 | 0.264 |
| 6-Aug-15 | 0.263 |
| 13-Aug-15 | 0.261 |
| 20-Aug-15 | 0.264 |
| 27-Aug-15 | 0.264 |
| 3-Sep-15 | 0.266 |
| 10-Sep-15 | 0.267 |
| 17-Sep-15 | 0.256 |
| 24-Sep-15 | 0.262 |
| 1-Oct-15 | 0.254 |
| 8-Oct-15 | 0.257 |
| 15-Oct-15 | 0.254 |
| 22-Oct-15 | 0.255 |
Note: Solid vertical lines mark dates of FHA MIP changes referenced in Table 1. The dashed vertical line marks the extension of annual insurance premiums over the life of the loan.
Source: Data reported under HMDA.
Figure 2: Treatment Group Share of Home Purchase Loans by Date of Rate Lock
| Week of | Treatment Group Share |
|---|---|
| 19-Mar-14 | 0.192 |
| 26-Mar-14 | 0.185 |
| 2-Apr-14 | 0.181 |
| 9-Apr-14 | 0.175 |
| 16-Apr-14 | 0.183 |
| 23-Apr-14 | 0.179 |
| 30-Apr-14 | 0.178 |
| 7-May-14 | 0.179 |
| 14-May-14 | 0.177 |
| 21-May-14 | 0.184 |
| 28-May-14 | 0.174 |
| 4-Jun-14 | 0.183 |
| 11-Jun-14 | 0.182 |
| 18-Jun-14 | 0.175 |
| 25-Jun-14 | 0.170 |
| 2-Jul-14 | 0.182 |
| 9-Jul-14 | 0.181 |
| 16-Jul-14 | 0.183 |
| 23-Jul-14 | 0.177 |
| 30-Jul-14 | 0.179 |
| 6-Aug-14 | 0.183 |
| 13-Aug-14 | 0.181 |
| 20-Aug-14 | 0.188 |
| 27-Aug-14 | 0.175 |
| 3-Sep-14 | 0.189 |
| 10-Sep-14 | 0.189 |
| 17-Sep-14 | 0.182 |
| 24-Sep-14 | 0.189 |
| 1-Oct-14 | 0.181 |
| 8-Oct-14 | 0.176 |
| 15-Oct-14 | 0.183 |
| 22-Oct-14 | 0.187 |
| 29-Oct-14 | 0.188 |
| 5-Nov-14 | 0.186 |
| 12-Nov-14 | 0.179 |
| 19-Nov-14 | 0.189 |
| 26-Nov-14 | 0.174 |
| 3-Dec-14 | 0.196 |
| 10-Dec-14 | 0.185 |
| 17-Dec-14 | 0.189 |
| 24-Dec-14 | 0.187 |
| 1-Jan-15 | 0.176 |
| 8-Jan-15 | 0.166 |
| 15-Jan-15 | 0.178 |
| 22-Jan-15 | 0.186 |
| 29-Jan-15 | 0.187 |
| 5-Feb-15 | 0.205 |
| 12-Feb-15 | 0.200 |
| 19-Feb-15 | 0.206 |
| 26-Feb-15 | 0.201 |
| 5-Mar-15 | 0.203 |
| 12-Mar-15 | 0.197 |
| 19-Mar-15 | 0.197 |
| 26-Mar-15 | 0.198 |
| 2-Apr-15 | 0.191 |
| 9-Apr-15 | 0.199 |
| 16-Apr-15 | 0.193 |
| 23-Apr-15 | 0.197 |
| 30-Apr-15 | 0.194 |
| 7-May-15 | 0.194 |
| 14-May-15 | 0.190 |
| 21-May-15 | 0.192 |
| 28-May-15 | 0.184 |
| 4-Jun-15 | 0.194 |
| 11-Jun-15 | 0.190 |
| 18-Jun-15 | 0.195 |
| 25-Jun-15 | 0.190 |
| 2-Jul-15 | 0.194 |
| 9-Jul-15 | 0.199 |
| 16-Jul-15 | 0.190 |
| 23-Jul-15 | 0.193 |
| 30-Jul-15 | 0.195 |
| 6-Aug-15 | 0.199 |
| 13-Aug-15 | 0.205 |
| 20-Aug-15 | 0.202 |
| 27-Aug-15 | 0.205 |
| 3-Sep-15 | 0.204 |
| 10-Sep-15 | 0.200 |
| 17-Sep-15 | 0.209 |
| 24-Sep-15 | 0.208 |
| 1-Oct-15 | 0.195 |
| 8-Oct-15 | 0.198 |
| 15-Oct-15 | 0.196 |
| 22-Oct-15 | 0.197 |
Note: The vertical line marks January 26, 2015, the date of the decrease in annual FHA MIP referenced in Table 1. Estimated curve of best fit overlaid on weekly data.
Source: Optimal Blue.