Blog Posts

Rural Home-Purchase Loans Grow at Faster Rate Than Urban

by Keith Wiley

The number of rural loan applications fell last year because of a big decline in refinancing. But loan applications for home purchases grew by nearly 7 percent, even higher than the national increase. Also on the rise in rural areas were higher-interest loans, which are especially common for manufactured housing purchases.

Read the Complete blog post at The Daily Yonder

by Keith Wiley

The number of rural loan applications fell last year because of a big decline in refinancing. But loan applications for home purchases grew by nearly 7 percent, even higher than the national increase. Also on the rise in rural areas were higher-interest loans, which are especially common for manufactured housing purchases.

Recently released data from the Home Mortgage Disclosure Act (HMDA) signals a changing home finance market across the nation and rural America too. The 2015 HMDA figures, which reflect calendar year 2014 mortgage lending applications, show a substantial nationwide decline in overall mortgage activity. In fact, the total number of HMDA reported loan records in 2014 was the lowest level in the past 17 years.

Read the Complete blog post at The Daily Yonder