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170+ Mortgage Statistics
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Annual HMDA Home Buyer Study
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Since 2003, Dan Green has been a leading mortgage lender and respected industry authority. His unwavering commitment to first-time home buyers and home buyer education has established him as a trusted voice among his colleagues, his peers, and the media. Dan founded Homebuyer.com to expand the American Dream of Homeownership to all who want it. Read more about Dan Green.
Homebuyer.com is your trusted guide to homeownership. Since 2003, our team has offered real-world expertise and advice to tens of millions of U.S. home buyers. Our content stands on its integrity: it's factual, unbiased, and free from outside influences. Read more about our governing editorial guidelines.
We also exist for profit and want our readers to understand how we make money.
Homebuyer.com is a mortgage-company-affiliated publisher. We earn compensation when you click specific links on the website, or apply for a mortgage with Homebuyer.com or partner listed in our comparison tables. Our partners compensate us differently, so we randomize our tables to protect our readers from steering. We may also earn compensation for advertisements on the site, which are indicated clearly. Note that limitations in our software, whether we originate mortgages in your area, and credit factors may affect the offers and comparison tables you see on various parts of this site. We do not include offers for every mortgage product available. Someday, we hope we will.
Your trust matters to us. This article was thoroughly checked for accuracy as of November 10, 2023. Homebuyer.com ensures every piece of information we share reflects the latest in mortgage standards. Learn more about our commitments to our reader in our editorial guidelines.
Homebuyer.com makes homeownership more accessible for people who want to own a home. Our better homebuying experience creates more U.S. homeowners and strengthens U.S. communities.
Our first-time home buyers ask many great questions here and on our YouTube.
Some common questions include:
But, if you’re looking for thoughtful answers to your questions or a glossary of mortgage terms, let us say plainly: this is not the article for you. This article is a compendium of mortgage statistics.
It’s mortgage fact after mortgage fact – and new mortgage facts after that.
We combed through over 100 million home buyer mortgage applications from the last five years and mounds of public mortgage data to bring you hundreds of recent, accurate mortgage statistics you can share with your friends, colleagues, and REALTOR®.
Use our mortgage stats to be a better buyer and avoid common first-time buyer mistakes.
Also: If mortgage data and statistics are your thing, explore racial, ethnic, and other demographic mortgage data in charts in our Annual Homebuyer Mortgage Study. Our methodology is included at the bottom of this page.
You may also be interested in our companion report, Generational Home Buyer Statistics, which lists more than 100 surprising statistics about home buyers and homeowners nationwide.
Happy homebuying, everyone.
Assumptions: Home buyer, 1-unit home, meets minimum eligibility standards
Assumptions: Home buyer, 1-unit home, meets minimum eligibility standards, at least 50 mortgaged home purchases in the county in 2022.
Assumptions: Home buyer, 1-unit home, meets minimum eligibility standards, at least 50 mortgaged home purchases in the county in 2022.
Source: Freddie Mac
Source: Freddie Mac
Results based on counties with at least 50 home buyers using a conventional mortgage in 2022 to finance a 1-4 unit primary residence.
Results based on counties with at least 50 home buyers using an FHA mortgage in 2022 to finance a 1-4 unit primary residence.
Results based on counties with at least 50 home buyers using a USDA mortgage in 2022 to finance a 1-4 unit primary residence.
Results based on counties with at least 50 home buyers using a VA mortgage in 2022 to finance a 1-4 unit primary residence.
Source: National Association of REALTORS®
Results may overlap (i.e. one lien may include negative amortization, interest only, and balloon payment features)
The word “mortgage” comes from the Old French term “mort gage,” which means “death pledge.” This refers to the idea that the obligation ends, or “dies”, when the loan is paid off or the property is taken.
The first Savings & Loan bank was established in 1831 in Frankford, Pennsylvania, to help its members obtain mortgages and realize their dream of homeownership.
Some U.S. homeowners place a winged bald eagle above their door to symbolize freedom from mortgage payments.
Homeowners sometimes hold “mortgage burning parties” after paying off their home loans, where the physical mortgage paper is burned in celebration.
In Japan, banks offer 100-year mortgages, which are designed to last multiple generations.
The data for our study was gathered from the FFEIC website, specifically the Snapshot National Loan Level Dataset for 2022, except where notes. The FFEIC Snapshot files contain national HMDA datasets as of April 30, 2023, from all HMDA reporters. Application data is modified by the agency to protect applicant and borrower privacy.
The scope for each mortgage statistic is included within each section. Categorically, we excluded open-ended mortgages with first-lien positions, including home equity line of credit (HELOC) mortgages and reverse mortgages, except where noted.
We collected the mortgage facts on this webpage via database queries. We removed outlier data, mostly linked to mortgage applications that applicants either withdrew or that lenders denied due to incompleteness or fell far beyond typical and expected ranges.
Less than one-half of one percent of HMDA data was excluded for reasonability reasons.
Despite the thorough nature of HMDA data, our study required additional calculations to derive more complex mortgage statistics. Relative percentages and comparison figures required advanced mathematical calculations, which we queried and compiled.
To ensure the accuracy of our study, we relied on the robustness of the HMDA data and the precision of our queries. The stringent data extraction, filtering, and analysis process improved our results’ reliability.
Homebuyer.com makes its mortgage research generally available to help home buyers better understand the mortgage market and to promote decency and fair treatment for all first-time home buyers.
These mortgage facts can be shared across social media platforms, personal blogs, and online forums or used in academic and professional presentations. However, we request that you adhere to the following attribution guidelines while doing so:
By following these guidelines to share this research and these mortgage statistics, we can work together to promote a fair and transparent mortgage lending environment for all home buyers.
For follow-up information and usage rights for our research, please email our team at hello@homebuyer.com.
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Mortgage Rate Assumptions
The Homebuyer.com mortgage rates shown on this page are based on assumptions about you, your home, and the state where you plan to purchase. The rate shown is accurate as of , but please remember that mortgage rates change without notice based on mortgage bond market activity.
The Homebuyer.com mortgage rates shown on this page are based on assumptions about you, your home, and the state where you plan to purchase. The rate shown is accurate as of {{ formatDate(rates[0].createdAt) }}, but please remember that mortgage rates change without notice based on mortgage bond market activity.
Our mortgage rate assumptions may differ from those made by the other mortgage lenders in the comparison table. Your actual mortgage rate, APR, points, and monthly payment are unlikely to match the table above unless you match the description below:
You are a first-time buyer purchasing a single-family home to be your primary residence in any state other than New York, Hawaii, and Alaska. You have a credit score of 660 or higher. You are making a down payment of twenty percent and using a 30-year conventional fixed-rate mortgage. You earn a low-to-moderate household income relative to your area.
The information provided is for informational purposes only and should not be confused for a mortgage rate commitment or a mortgage loan approval.
Legal Disclosures
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