GITNUX MARKETDATA REPORT 2024

Must-Know Morgage Statistics [Recent Analysis]

With sources from: emlaklobisi.com, statista.com, fred.stlouisfed.org, housingwire.com and many more

In this post, we will explore a comprehensive overview of mortgage statistics in the United States, shedding light on key figures from total mortgage debt to average interest rates, down payments, loan sizes, and more. By analyzing trends and data points such as homeownership rates, refinancing behaviors, credit scores, and loan origination details, we aim to provide valuable insights into the state of the mortgage market. Stay tuned as we delve into the numbers that shape the American housing finance landscape.

Statistic 1

"In the first quarter of 2021, the total mortgage debt in the United States reached approximately $10.9 trillion."

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Statistic 2

"As of April 2021, the average interest rate for a 30-year fixed-rate mortgage in the United States was 3.06%."

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Statistic 3

"In 2020, approximately 63.3% of mortgage applications in the United States were for purchase loans."

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Statistic 4

"In 2019, the median down payment for first-time homebuyers in the United States was 6%."

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Statistic 5

"In 2020, the average mortgage loan size in the United States reached $286,176."

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Statistic 6

"As of April 2021, approximately 4.44% of mortgages in the United States were in forbearance."

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Statistic 7

"In 2020, the homeownership rate in the United States was approximately 65.8%."

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Statistic 8

"Approximately 31% of U.S. homeowners have no mortgage debt."

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Statistic 9

"In 2020, the average time to close a mortgage loan in the United States was 51 days."

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Statistic 10

"Approximately 33% of U.S. homeowners refinanced their mortgages in 2020."

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Statistic 11

"In 2020, the average credit score for an approved mortgage loan in the United States was 753."

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Statistic 12

"In 2020, the top three mortgage lenders in the United States were Quicken Loans (now Rocket Mortgage), Wells Fargo, and Chase."

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Statistic 13

"In 2020, VA loans accounted for approximately 10.8% of all mortgage originations in the United States."

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Statistic 14

"In 2020, the total value of subprime mortgage loans in the United States reached $1.18 trillion."

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Statistic 15

"In 2020, approximately 5.3 million existing homes were sold in the United States."

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Statistic 16

"In the third quarter of 2020, the mortgage delinquency rate in the United States was 6.66%."

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Statistic 17

"In 2020, the total volume of mortgage refinancings in the United States was over $2.2 trillion."

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Statistic 18

"In 2020, the average down payment on a mortgage in the United States was approximately $46,800."

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Interpretation

In summary, the mortgage statistics for the United States offer valuable insights into the trends and dynamics of the housing market. From the total mortgage debt reaching $10.9 trillion in 2021 to the average credit score for approved mortgage loans being 753, the data paints a detailed picture of homeownership in the country. While some figures, such as the average time to close a mortgage loan at 51 days, reflect the efficiency of the process, others, like the 6.66% mortgage delinquency rate in the third quarter of 2020, highlight potential challenges. Understanding these statistics can help individuals make informed decisions about buying, refinancing, or selling their homes in the ever-evolving landscape of the U.S. real estate market.

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