Blog Posts
Jennifer Emerling / There Is More Work To Be Done
Jennifer Emerling / There Is More Work To Be Done
Rural Lending Improves; Costs Still Higher
Rural Lending Improves; Costs Still Higher
by Keith Wiley
After declining by more than half from 2003 to 2011, the number of rural mortgage applications increased by 19% last year. And the number of actual mortgage loans issued rose 27% from the previous year, according to data collected under the Home Mortgage Disclosure Act (HDMA).
Of the loan applications reported through HMDA in 2012, approximately 2.4 million, or 16%, were for mortgage loans in rural or small town communities.