FHFA Releases NMDB Outstanding Residential Mortgage Statistics

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There were 50.8 million outstanding mortgages with unpaid balances totaling $11.7 trillion at the end of the first quarter, the Federal Housing Finance Agency reported Tuesday.

FHFA published information about active residential mortgages from the National Mortgage Database. The agency also launched the NMDB Aggregate Statistics Dashboard, a new data visualization tool to allow the general public to access outstanding residential mortgage statistics.

“The release of updated data will allow stakeholders to better understand emerging mortgage and housing market trends,” FHFA Director Sandra L. Thompson said. “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.”

The data release describes outstanding residential mortgage debt as of March 31. Highlights include:

21.9% of outstanding mortgages have interest rates below 3%, down slightly from a high of 24.6% in the first quarter of 2022. 14.3% of outstanding mortgages have interest rates of 6% or higher.

Adjustable-rate mortgages account for 3.5% of outstanding mortgages, down from 9.6% one 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 by aggregating data in the NMDB. The NMDB is a de-identified database of closed-end first-lien residential mortgages, containing a nationally representative sample of mortgages in the United States. FHFA produces the NMDB Aggregate Statistics to make NMDB statistics available to the general public. More information about the NMDB Aggregate Statistics is available on the FHFA website.