April 14, 2017
- HUD has published its third annual report on demographic and economic data for people living in Low-Income Housing Tax Credit (Housing Credit) properties. As of December 31, 2014, the median annual income of residents was $17,152 and approximately 47 percent of tenants earned 30 percent or less of the area median income.
- An article, titled No Shopping in the US Mortgage Market: Direct and Strategic Effects of Providing Information, documents and analyzes price dispersion in the U.S. mortgage market. The authors find significant price dispersion in posted prices in the retail channel: for example, a consumer with a prime credit score and with a 20% down payment might see a spread in interest rates of 50 basis points, controlling for all relevant consumer/property characteristics, including discount points.
- Using information on mortgages insured by the Federal Housing Administration, this article, titled Reverse Mortgage Collateral: Undermaintenance or Overappraisal, examines the disproportionate decline in collateral values associated with reverse mortgages.