Residential Mortgage Lending in 2016: Evidence from the Home Mortgage Disclosure Act Data (PDF)
Neil Bhutta, Steven Laufer, and Daniel R. Ringo
This article provides an overview of the 2016 data reported under the Home Mortgage Disclosure Act of 1975 and analyzes mortgage market activity over time as well as lending patterns across different demographic groups and lender types. The number of home-purchase originations was about 10 percent higher in 2016 than in 2015, and the number of refinance loans was 16 percent higher. The increase in lending was broad based across demographic and income categories.
HMDA Bulletin Data (.xlsx)* | HMDA data by county and month, 1994-2016 (.csv)
Changes in U.S. Family Finances from 2013 to 2016: Evidence from the Survey of Consumer Finances
The Federal Reserve Board's Survey of Consumer Finances for 2016 provides insights into the evolution of family income and net worth since the previous time the survey was conducted, in 2013. The survey shows that, over the 2013-16 period, the median value of real (inflation-adjusted) family income before taxes rose 10 percent, and mean income increased 14 percent. Real median net worth increased 16 percent, and mean net worth increased 26 percent. The data also indicate that gains in income and net worth are broad based, occurring across many different types of families, whether grouped by economic characteristics such as income and wealth or by demographic characteristics such as age, education, or race and ethnicity. However, the data also indicate that inequality continued to grow between 2013 and 2016, with large gains in income and net worth accruing to the highest-earning and wealthiest families. This article reviews these and other changes in the financial condition of U.S. families, including developments in assets, liabilities, debt payments, and credit market experiences.
*This file was updated on September 29, 2017, to correct a labeling error.
About and Archive
The Federal Reserve Bulletin--first published by the Federal Reserve Board in 1914--contains topical research and analysis and quarterly "Legal Developments."
Statistical data formerly published in the Bulletin (before 2004) and in the Statistical Supplement to the Federal Reserve Bulletin (before 2009) are now routinely posted on a Data Sources webpage on this site.
Online access to the Bulletin is free, and an e-mail notification service is available to alert subscribers to new articles as they are released. In addition, a print-based compilation of Bulletin articles and legal developments is published annually, following each calendar year-end.