Home lending in Vermont compared to New England

By: Maura Collins

A recent study looking at the six New England states’ home lending activity between 2006 to 2010 shows Vermont compared to neighboring states. Some highlights are:

  • The number of home-purchase loans in Vermont dropped by 41%, similar to the New England average of 44%.
  • While Vermont’s refinance loan activity declined 31% in 2010 from 2009, the state still had 40% more refinance loans in 2010 than 2006, better than the New England average of 32% during the same years.
  •  “Home-purchase mortgages went down for borrowers of all races and ethnicities from 2006 to 2010. However, home-purchase loans plummeted at a much higher rate (64 percent) among blacks and Latinos than among white (40 percent) and Asian (20 percent) borrowers,” read the report.

The full report can be found on the Federal Reserve Bank of Boston’s website.