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The Complete Consumer Library of Mortgage Statistics

United States Mortgage Servicing Statistics

The financial crisis of 2007 and 2008 sent the American housing market into a tailspin. New construction all but ground to a halt, and the market for existing homes was at its lowest point in recent history. As hundreds of thousands of families watched the equity in their homes slip away, the demand for new mortgages dropped to a staggeringly low number. It's been a long slow struggle back, but the US economy is finally making a welcome recovery. New constructions are on the rise, the real estate market is on the rebound, and more and more consumers are applying for new mortgages. Proof of the recovery, if proof were needed, can be found in the annual mortgage statistics that are collated by both the government and other independent research firms.

If you're interested in the current state of the US mortgage market, you need look no further. We've gathered together some of the most telling mortgage statistics to give you a general overview of the American housing market.

The Size of the Residential Mortgage Market

The US mortgage market continues to feel the effects of the sub-prime mortgage crisis, but the numbers are on the rise. According to the Federal Reserve, outstanding mortgage debt for single family residences declined significantly from 2011 to 2012, but has been growing in fits and starts since 2013. Interestingly, outstanding mortgages for multifamily residences held steady, and even managed grow, despite the economic crisis. By contrast, non-residential mortgages have remained relatively steady, even showing some consistent growth over the same four year period.

calculator with house on mortgage

Mortgage Debt by Property Type

At the midpoint of 2018 there was over 15 trillion Dollars in outstanding mortgage debt across the United States. The following data from the Federal Reserve shows how mortgage debt has grown over time.

In recent years total mortgage debt has been growing at a rate of roughly 3.5% to 3.7% annually. The biggest pullback from the 2008 to 2009 global recession was in Q4 of 2010 with mortgage debt falling by 4.21%.

All numbers are in millions of United States Dollars at the end of the associated time period..

Date Total YoY △ YoY % △ 1-4 Family Residences Multifamily Nonfarm Nonresidential Farm
1949 Q4 54,282 29,152 7,772 11,848 5,510
1950 Q4 82,302 28,020 34.05% 44,615 11,817 17,344 8,526
1951 Q4 92,435 10,133 10.96% 51,161 13,422 18,456 9,396
1952 Q1 94,253 52,312 13,699 18,722 9,520
1952 Q2 96,746 53,989 13,975 18,975 9,807
1952 Q3 99,215 55,757 14,264 19,255 9,939
1952 Q4 101,600 9,165 9.02% 57,484 14,528 19,536 10,052
1953 Q1 103,983 9,730 9.36% 59,149 14,700 19,868 10,266
1953 Q2 106,947 10,201 9.54% 61,292 14,919 20,209 10,527
1953 Q3 109,425 10,210 9.33% 63,151 15,116 20,540 10,618
1953 Q4 111,950 10,350 9.25% 64,894 15,381 20,988 10,687
1954 Q1 114,085 10,102 8.85% 66,258 15,491 21,406 10,930
1954 Q2 117,322 10,375 8.84% 68,467 15,690 21,981 11,184
1954 Q3 120,757 11,332 9.38% 71,080 15,871 22,581 11,225
1954 Q4 124,713 12,763 10.23% 74,018 16,171 23,279 11,245
1955 Q1 128,671 14,586 11.34% 76,792 16,361 23,824 11,694
1955 Q2 133,115 15,793 11.86% 80,085 16,630 24,450 11,950
1955 Q3 137,348 16,591 12.08% 83,188 16,871 25,157 12,132
1955 Q4 141,566 16,853 11.90% 86,059 17,292 25,893 12,322
1956 Q1 145,393 16,722 11.50% 88,528 17,558 26,621 12,686
1956 Q2 149,832 16,717 11.16% 91,481 17,840 27,425 13,086
1956 Q3 153,816 16,468 10.71% 94,232 18,073 28,215 13,296
1956 Q4 157,459 15,893 10.09% 96,836 18,251 28,987 13,385
1957 Q1 160,751 15,358 9.55% 99,067 18,363 29,672 13,649
1957 Q2 164,000 14,168 8.64% 101,261 18,556 30,275 13,908
1957 Q3 167,673 13,857 8.26% 103,539 18,898 31,178 14,058
1957 Q4 171,028 13,569 7.93% 105,469 19,263 32,194 14,102
1958 Q1 173,967 13,216 7.60% 106,899 19,904 32,897 14,267
1958 Q2 177,934 13,934 7.83% 108,896 20,670 33,781 14,587
1958 Q3 182,578 14,905 8.16% 111,614 21,410 34,685 14,869
1958 Q4 187,790 16,762 8.93% 114,574 22,174