An analysis by Urban Institute finds that mortgage refinance activity played a significant role in the housing crisis. Defaults were more common and losses were higher on refinance mortgages than purchase mortgages. Between 2006 and 2007, 16 percent of refinance mortgages were delinquent for more than 180 days, compared to 10 percent of purchases loans. This analysis shows that mortgage refinance activity played a greater role in the housing crisis than home purchase activity.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing