FHFA Presents Mortgage Statistics For Q1 2024

Loan officers and lenders alike have a new tool within their grasp to gather mortgage statistics and gauge market trends.

Outstanding residential mortgage statistics are now available through the Federal Housing Finance Agency (FHFA) with its launch of the National Mortgage Database (NMDB) Aggregate Statistics Dashboard.

“The release of updated data will allow stakeholders to better understand emerging mortgage and housing market trends,” FHFA Director Sandra L. Thompson said in an announcement. “Additionally, the new dashboard will ensure that information about the volume and characteristics of mortgages held by U.S. households is more easily accessible and available to the public.”

Funded by the FHFA and the Consumer Financial Protection Bureau (CFPB), the NMDB provides a nationally representative, 5% sample of closed-end, first-lien residential mortgages in the U.S. It is updated quarterly.

The latest release represents mortgage debt at the close of quarter one, 2024. At that time there were 50.8 million outstanding mortgages with unpaid balances, totaling $11.7 trillion. 

Among those outstanding at the end of Q1, an estimated 21.9% had interest rates below 3%, while 14.3% had interest rates of 6% or higher. The median monthly payment was $1,520 and the average credit score among borrowers with an active loan was 743.

Adjustable-rate mortgages (ARMs) accounted for 3.5% of outstanding mortgages, down from 9.6% one decade earlier.