Housing finance at a glance: a monthly chartbook
(주택 금융 한 눈에 보기: 월간 차트북)
목차
OVERVIEW
Market Size Overview
Value of the US Residential Housing Market 6
Size of the US Residential Mortgage Market 6
Private Label Securities 7
Agency Mortgage-Backed Securities 7
Origination Volume and Composition
First Lien Origination Volume & Share 8
Mortgage Interest Rates
30-Year FRM 9
ARM Share 9
Refinancable Mortgages
Percent Refi at Issuance 10
Refinancable share of Mortgages 10
Outstanding Note Rates 10
Prepayment Speeds
Prepayment Rates by Note Rate 11
Prepayment Rates by Agency 11
Prepayment Rates by Vintage 11
Cash-Out Refinances
Loan Amount After Refinancing 12
Cash-out Refinance Share of All Originations 12
Total Home Equity Cashed Out 12
Nonbank Origination Share
Nonbank Origination Share: All Loans 13
Nonbank Origination Share: Purchase Loans 13
Nonbank Origination Share: Refi Loans 13
Securitization Volume and Composition
Agency/Non-Agency Share of Residential MBS Issuance 14
Non-Agency MBS Issuance 14
Non-Agency Securitization 14
CREDIT BOX
Housing Credit Availability Index (HCAI)
Housing Credit Availability Index 15
Housing Credit Availability Index by Channel 15–16
Credit Availability for Purchase Loans
Borrower FICO Score at Origination Month 17
Combined LTV at Origination Month 17
DTI at Origination Month 17
Origination FICO and LTV by MSA 18
Nonbank Credit Box
Agency FICO: Bank vs. Nonbank 18
GSE FICO: Bank vs. Nonbank 18
Ginnie Mae FICO: Bank vs. Nonbank 18
GSE LTV: Bank vs. Nonbank 19
Ginnie Mae LTV: Bank vs. Nonbank 19
GSE DTI: Bank vs. Nonbank 19
Ginnie Mae DTI: Bank vs. Nonbank 19
STATE OF THE MARKET
Racial and Ethnic Composition
Purchase Loan Shares by Race 20
Purchase Loan Channel Shares by Race 20
Mortgage Origination Projections and Originator Profitability
Total Originations and Refinance Shares 21
Originator Profitability and Unmeasured Costs 21
Housing Supply
Months of Supply 22
Housing Starts and Home Sales 22
New Residential Construction
New Completions 23
Share Built for Sale 23
Housing Affordability
National Housing Affordability Over Time 24
Active Listings by Price Tier Over Time 24
Home Price Indexes
National Year-Over-Year HPI Growth 25
Changes in CoreLogic HPI for Top MSAs 25
Regional Home Price Appreciation 26
Homeownership Rates
Overall Homeownership 27
Homeownership by Age 27
Homeownership by Race/Ethnicity 27
First-Time Homebuyers
First-Time Homebuyer Share 28
Comparison of First-time and Repeat Homebuyers, GSE and FHA Originations 28
Delinquencies and Loss Mitigation
Negative Equity Share 29
Loans in Serious Delinquency/Foreclosure 29
Forbearance Rates by Channel 29
THE GSES UNDER CONSERVATORSHIP
GSE Portfolio Wind-Down
Fannie Mae Mortgage-Related Investment Portfolio 30
Freddie Mac Mortgage-Related Investment Portfolio 30
Effective Guarantee Fees & GSE Risk-Sharing Transactions
Effective Guarantee Fees 31
Fannie Mae Upfront Loan-Level Price Adjustment 31
GSE Risk-Sharing Transactions and Spreads 32–33
Serious Delinquency Rates
Serious Delinquency Rates – Fannie Mae, Freddie Mac, FHA & VA 34
Serious Delinquency Rates – Single-Family Loans & Multifamily GSE Loans 34
AGENCY ISSUANCE
Agency Gross and Net Issuance
Agency Gross Issuance 35
Agency Net Issuance 35
Agency Gross Issuance and Fed Purchases
Monthly Gross Issuance 36
Fed Absorption of Agency Gross Issuance 36
Mortgage Insurance Activity
MI Activity & Market Share 37
FHA MI Premiums for Typical Purchase Loan 38
Initial Monthly Payment Comparison: FHA vs. PMI 38
Publications and Events 39
