Dashboard enhances accessibility to mortgage statistics
The Federal Housing Finance Agency (FHFA) has launched a new data visualization tool to enhance public access to detailed mortgage data.
The new NMDB Aggregate Statistics Dashboard includes updated aggregate statistics from the National Mortgage Database (NMDB) and provides insights into outstanding residential mortgage debt at the end of the first quarter of 2024.
At that point, there were 50.8 million outstanding mortgages, with unpaid balances totaling $11.7 trillion. The data also showed that 21.9% of these mortgages had interest rates below 3%, a slight decrease from 24.6% in the first quarter of 2022. In contrast, 14.3% of outstanding mortgages now have interest rates of 6% or higher.
Adjustable-rate mortgages (ARMs) account for 3.5% of outstanding mortgages, down from 9.6% a decade ago. The median monthly payment among these mortgages is $1,520, and the average credit score among borrowers with active loans is 743.
FHFA head Sandra Thompson said the tools aim to make information on active residential mortgages more accessible and understandable to the public.
“The release of updated data will allow stakeholders to better understand emerging mortgage and housing market trends,” Thompson said in a media release. “Additionally, the new dashboard will ensure that information about the volume and characteristics of mortgages held by US households is more easily accessible and available to the public.”
The NMDB Aggregate Statistics are derived from a de-identified database of closed-end first-lien residential mortgages, representing a nationally representative sample of US mortgages. This initiative aligns with the statutory requirements of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.
The statute mandates the FHFA to conduct a monthly mortgage market survey, collect data on individual mortgages, and make the data publicly available while protecting borrower privacy.
In addition to the NMDB data, the FHFA, in collaboration with the Consumer Financial Protection Bureau (CFPB), has published updated loan-level data from the National Survey of Mortgage Originations (NSMO).
Read more: Federal housing data uncovers mortgage borrower trends
The NMDB survey provides new insights into appraisal satisfaction and willingness to move for borrowers with new mortgages.
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