The Heller School For Social Policty And Management The Heller School For Social Policy and Management Brandeis University
High Interest Loans (pre-2010) as Share of Refinance Loans
Year: 2009; Region: 50 Largest MSAs

Year
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  0.9% 1.8% 2.7% 3.6% 4.5% 5.4% 6.3% 7.2% 8.1%
  0.4% 1.3% 2.2% 3.1% 4.0% 5.0% 5.9% 6.8% 7.7% 8.6%
 

# of MSAs

          Phi...                          
        Cha... Cin...                          
5     Sea...   Col... Chi...                          
    Den...   Las... Mil...                          
    Por...   Pho... Jac... Ind... Mia...   Roc...                  
    Bos...   Riv... Bal... Ric... St....   Lou...                  
San... Los... Sac... Min... Pro... Vir... Orl... Atl... Cle... Kan...   Nas...   San... New...        
0 San... San... Was... New... Har... Aus... Sal... Tam... Dal... Det... Hou... Buf...   Pit... Mem... Bir...   Okl...  
  0.4% 1.3% 2.2% 3.1% 4.0% 5.0% 5.9% 6.8% 7.7% 8.6%
  0.9% 1.8% 2.7% 3.6% 4.5% 5.4% 6.3% 7.2% 8.1%
 

Definition: Share of home purchase loans that have an APR (annual percentage rate) at least 3 percentage points higher than the interest rate of U.S. Treasury securities of the same maturity.

Notes: Due to changes in the definition of high interest loans, this indicator only reflects loans with application dates before October 1, 2009.  Includes only originated, first-lien loans for owner-occupied, 1-4 family homes or manufactured homes. 

Source: Analysis of Home Mortgage Disclosure Act Data from the Federal Financial Institutions Examination Council.