National Association of Home Builders economist Michael Neal drills into a New York Fed Quarterly Report on Household Debt and Credit, mining it for insight on mortgage trends, including interest rates, credit scores, loan volume, debt loads, etc.
Neal's primary focus in this exploration is on the relative risk levels, and how they've shifted during the Post Crisis months and years. Borrowing and lending have put themselves on sturdier ground, even as loan amounts and loan volume are on the rise. Neal writes:
The majority of the dollar amount of mortgage originations went to households with the strongest credit scores, 780 and above. Meanwhile, households with a mid-tier credit score, a score between 660 and 779, have seen their share decline from 53% in 2000 to 45% in 2014. In 2014, the share of mortgage originations going to households with a credit score between 660 and 719 was 3 percentage points less than its share in 2000 and the proportion of mortgage originations going to households with a credit score ranging between 720 and 779 fell 5 percentage points over the same period. Meanwhile, households with the weakest credit scores, those with a credit score below 660, accounted for the smallest proportion of mortgage originations.