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Office of the Chief Economist

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CoreLogic’s Office of the Chief Economist (OCE) employs some of the brightest minds and most often quoted professionals in the housing ecosystem, including Molly Boesel, Selma Hepp and other experts who know how to best interpret data trends and tell you what they mean. The OCE authors CoreLogic’s regular monthly economic reports: The Home Price Index (HPI), the Loan Performance Index (LPI), the Single-Family Rent Index (SFRI) and the S&P Case-Shiller Index (CSI). Our economists also routinely weigh in on other key housing topics on our blog, podcasts and videos. Read previous blog posts from CoreLogic's economists.
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September 26, 2019

2018 HMDA Data: High Debt-to-Income Ratio Was the Top Reason for Mo...

More than 1-in-2 denied applications had a DTI above the 43% QM threshold The Consumer Financial Protection Bureau recently released the 2018 loan-level mortgage lending data submitted by more than 5,600 commercial banks, savings associations, credit unions and mortgages companies covered by the ...

June 20, 2019

Special Report: Investor Home Buying

Don’t Call it a Comeback: Housing Investors Have Been Here for Years Home purchasing activity[i] among investors is on the rise. In 2018, the share of home sales bought by investors reached its highest level in two decades. However, this increase isn’t from big institutional buyers, but rath...

May 20, 2019

Undersupply in Housing Inventory

The number of homes for sale Inventory has been at a historical low in the U.S.  In March 2019, there was 4.5 months’ supply of homes for sale[1]. While up from the prior March’s 3.5 months, the months of supply of homes for sale this March was less than half of what it was ten […]

May 15, 2019

Younger Millennials Will Propel Condo Demand

Houston, North Port, FL and Miami are seeing increase in condo sales Condos can be the most affordable option for many looking to purchase a home, including younger and first-time homebuyers (FTHBs) and down-sizing baby boomers. CoreLogic Loan Application data shows that FTHBs gravitate toward co...

April 9, 2019

Special Report: House Flipping and Profits

Flipping Rates Near Historic Highs, but Flippers are Playing a Different Game Home flipping activity[i] is on the rise. The rate has increased on a year-over-year basis for 12 consecutive quarters, and on a seasonally adjusted basis is now at the highest level since we started keeping track ...

March 18, 2019

Characteristics of Today’s Non-Qualified Mortgages

Limited Documentation and High Debt-to-Income, but High Credit Score and Low Loan-to-Value Five years have passed since the Consumer Financial Protection Bureau (CFPB) issued regulations to provide safer and more sustainable home loans for consumers, known as Qualified Mortgages (QMs).[1] Th...

November 14, 2018

Are Adjustable-Rate Mortgages More Popular as Mortgages Rates Rise?

ARM shares were highest in expensive metro areas The average mortgage rates on both 30-year fixed-rate mortgages (FRMs) and 5/1 adjustable-rate mortgages (ARMs) jumped by about 70 basis points from August 2017 to August 2018.[1] After the housing bubble burst, FRMs have been far more popular than...

November 7, 2018

Mortgages Are Denied More Often in Underserved Areas

Denial rate differences appear related to DTI, LTV, and credit score Home Mortgage Disclosure Act (HMDA) data provide the most comprehensive detail on loan application decisions across the US residential mortgage market. However, HMDA does not collect many applicant-level variables that determine...

October 11, 2018

Debt-to-Income Is the Number One Reason for Denied Mortgage Applica...

Debt-to-Income ratio has risen over the last few years Whether you are a first-time or seasoned homebuyer, with the joy and excitement of buying a home also generally comes the task of obtaining mortgage finance. However, every year, the dream of becoming a first-time homeowner or trading up may ...

August 22, 2018

Why Are Jumbo Loans Cheaper than Conforming Loans?

Increased Conforming G-Fee, Higher Jumbo Credit Standard, and Risk-Based Pricing Historically large-balance mortgage loans, known as ‘jumbo’ loans, had a higher interest rate than conforming loans.[1] However, since mid-2013 a jumbo loan has been cheaper to borrow than a conforming mortgage ...

December 15, 2017

Home Price Winners and Losers

A Deeper Look at the CoreLogic HPI Shows Some Losers Can Be Big Winners Since the U.S. began recovering from the home-price bust in 2006, economists have used the peak-to-current change in prices as a measure of recovery in markets. However, the peak-to-current change hyper-focuses on economic lo...

December 1, 2017

How Much Is Your Home’s Collateral Value?

Traditional Appraisal and Automated Valuation Models Don’t Always See Eye to Eye Recently the two government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced plans to waive the requirement of a professional appraisal on qualified purchase loans with a loan-to-value ratio at or be...