Publication

The State of Mortgage Lending in New York City

The analysis of recent mortgage trends from the 2011 State of New York City’s Housing and Neighborhoods report finds that home purchase loans originated in 2010 increased 11 percent over 2009, interrupting what had been a steady downward trend in annual lending since 2005. Much of the rise is due to a 22 percent increase in the number of homebuyers taking out mortgages in low- and moderate-income neighborhoods. The number of loans issued to white, black, and Hispanic borrowers in New York City all increased in 2010, while lending to Asian borrowers decreased slightly.