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FHFA Releases Data Visualization Dashboard for NMDB Outstanding Residential Mortgage Statistics
Washington DC The Federal Housing Finance Agency (FHFA) today released updated aggregate statistics from the National Mortgage Database (NMDB) and launched the NMDB Aggregate Statistics Dashboard, a new data visualization tool for NMDB's outstanding residential mortgage statistics.
The release of updated data will allow stakeholders to better understand emerging trends in the mortgage and housing market, said Director Sandra L. Thompson. Additionally, the new dashboard will ensure that information on the volume and characteristics of mortgages held by U.S. households is more easily accessible and made available to the public.
Today's release describes the outstanding residential mortgage debt as of the end of the first quarter of 2024. Highlights include:
- As of the end of the first quarter of 2024, there were 50.8 million mortgages outstanding with outstanding balances totaling $11.7 trillion.
- 21.9% of outstanding mortgages have interest rates below 3%, down slightly from the peak of 24.6% in the first quarter of 2022. 14.3% of outstanding mortgages have interest rates of 6% or more.
- Adjustable-rate mortgages (ARMs) represent 3.5% of outstanding mortgages, down from 9.6% a decade ago.
- The median monthly payment among outstanding mortgages is $1,520.
- The average credit score among borrowers with an active loan is 743.
NMDB Aggregate Statistics include summary statistics derived from the aggregation of NMDB data. The NMDB is an anonymized database of first-lien residential closed-end mortgages, containing a nationally representative sample of mortgages in the United States. To make NMDB statistics available to the general public, FHFA produces NMDB Aggregate Statistics. More information about NMDB Aggregate Statistics is available on the FHFA website.
The publication of aggregate NMDB statistics is a step toward implementing the statutory requirements of Section 1324(c) of the Federal Housing Corporation Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008. The Act requires FHFA to conduct a monthly survey of the mortgage market to collect data on the characteristics of individual mortgage loans, both corporate and non-corporate, and to make the data available to the public while protecting the privacy of borrowers.
Related resources:
NMDB Global Statistics Dashboard
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The Federal Housing Finance Agency (FHFA) regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.4 trillion in financing to U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, Youtube, Facebook, And LinkedIn.
Contacts: [email protected]
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