CalculatedRisk Newsletter

CalculatedRisk Newsletter

Share this post

CalculatedRisk Newsletter
CalculatedRisk Newsletter
FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores
Copy link
Facebook
Email
Notes
More

FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores

CalculatedRisk by Bill McBride's avatar
CalculatedRisk by Bill McBride
Jul 01, 2024
∙ Paid
8

Share this post

CalculatedRisk Newsletter
CalculatedRisk Newsletter
FHFA’s National Mortgage Database: Outstanding Mortgage Rates, LTV and Credit Scores
Copy link
Facebook
Email
Notes
More
Share

Here are some graphs on outstanding mortgages by interest rate, the average mortgage interest rate, borrowers’ credit scores and current loan-to-value (LTV) from the FHFA’s National Mortgage Database through Q1 2024 (released on Friday).

Current Outstanding Mortgage Rates

Here is some data showing the distribution of interest rates on closed-end, fixed-rate 1-4 family mortgages outstanding at the end of each quarter since Q1 2013 through Q1 2024.

This shows the surge in the percent of loans under 3%, and also under 4%, starting in early 2020 as mortgage rates declined sharply during the pandemic. The percent of outstanding loans under 4% peaked in Q1 2022 at 65.2% (now at 57.3%), and the percent under 5% peaked at 85.5% (now at 76.0%). These low existing mortgage rates makes it difficult for homeowners to sell their homes and buy a new home since their monthly payments would increase sharply. This is a key reason existing home inventory levels are so low.

The percent of loans over 6% bottomed in Q2 2022 at 7.2% and has increased to 14.3% in Q4 2023.

Here are graphs on the average mortgage interest rate, borrowers’ credit scores and current loan-to-value (LTV) from the FHFA data base.

The following content is for paid subscribers only. Thanks to all paid subscribers!

CalculatedRisk Newsletter is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

Keep reading with a 7-day free trial

Subscribe to CalculatedRisk Newsletter to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 CalculatedRisk
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More