New England
Higher-Priced Refinance Loans in Southern New England
In New England, 12 percent of refinance loans were higher-priced. Higher-priced refinance loans were much less common in eastern Massachusetts than in other parts of southern New England.
Mapping
Percentage of loans in each census tract that are higher-priced
Source: 2004 HMDA Data Note: Higher-priced loans are those with interest rates that exceed the yield on a comparable maturity Treasury security by three percentage points for first liens or five percentage points for subordinate liens. Map: Ricardo Borgos, Federal Reserve Bank of Boston
First Quartile Second Quartile Third Quartile Fourth Quartile
Less than 6 percent 6 percent to 10 percent 10 percent to 16 percent Greater than 16 percent Fewer than 10 refinance loans made in 2004
Communities &Banking
This article was first published in the Federal Reserve Bank of Boston's Communities & Banking magazine.The views expressed are not necessarily those of the Federal Reserve Bank of Boston or the Federal Reserve System. Information about organizations and upcoming events does not constitute an endorsement. To subscribe, e-mail bostonfed.publications@bos.frb.org.
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