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Home Purchase Mortgages Initiated Per 1000 Local Residents

Time Range: 2006-07       Resolution: Census Tract

The rate per 1000 residents of home purchase mortgage loan applications initiated is the total number of home purchase mortgage loan applications divided by the area population per 1000 residents. In order to average out seasonal and annual fluctuations, it is averaged over two years.

Rationale

Initiated home purchase mortgages measure the settlement activity of a community. A higher number of initiated home mortgages may indicate that a community possesses desirable characteristics such as strong physical, social, and economic environmental qualities, drawing residents to live there. It also indicates local residents’ financial well-being, employment status, and education levels which are correlated to health outcomes.

Source

Data is from the Home Mortgage Disclosure Act, Aggregate Reports - Loan Application Register (LAR), 2006-07
[http://www.ffiec.gov/HmdaAdWebReport/AggWelcome.aspx]
and FFIEC Census Reports 2006-07
[http://www.ffiec.gov/census/default.aspx]


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