Applications for 30-year fixed mortgages accounted for 86.1 percent of the weekly total. Refinances made up 47.1 percent of originations in the first quarter. Foreclosure prevention actions held at 2.8 per 1,000 loans.
Key Takeaways
- Average 30-year fixed mortgage rate ranged from 6.00% to 7.00% during 2024 (Freddie Mac PMMS)
- GSE share of US mortgage originations was 43% in 2023
- HMDA coverage captured 9.6 million mortgage loan applications in 2022 (FFIEC HMDA data)
- 30-year fixed mortgage applications represented 86.1% of all applications in the week ending May 10, 2024
- VA backed 1.7 million loans in 2023
- 2.8% foreclosure prevention actions per 1,000 loans (2023)
- Mortgage origination cycle time averaged 45 days in 2023 (from application to closing)
- Digital mortgage pre-approval reduced time to decision by 60% (industry survey 2023)
- VA funding fee was 2.3% for first-time use regular military service in 2024 (0% for exempt)
- Mortgage fraud affected an estimated $2.8 billion of originations in 2022 (FBI IC3 reporting)
- RPA reduced mortgage back-office processing costs by 30% for a large servicer in 2023 (industry case study)
- Fannie Mae’s Desktop Underwriter (DU) uses automated underwriting to support originations; DU feedback is used on 8.5 million loans annually (usage statistics)
- 46.3% of mortgages were variable-rate or interest-only in Q1 2024
- 4.9% U.S. 30-year fixed mortgage rate volatility (standard deviation of weekly rates) during 2023
- 47.1% of originations were refinances in Q1 2024
In 2024, rates stayed volatile near 6 to 7 percent while most lending shifted to refinances.
Related reading
01 · Category
Industry Trends6 stats
01
Average 30-year fixed mortgage rate ranged from 6.00% to 7.00% during 2024 (Freddie Mac PMMS)[1]
02
GSE share of US mortgage originations was 43% in 2023[2]
03
HMDA coverage captured 9.6 million mortgage loan applications in 2022 (FFIEC HMDA data)[3]
04
30% of mortgage lenders reported reducing staffing for originations during 2023 due to lower volumes (industry survey)[4]
05
Average mortgage servicing rights (MSR) value increased by 15% in 2023 (servicing market trend)[5]
06
68% of originators expect more use of eClosing within 12 months (2024 survey)[6]
Interpretation
Industry Trends Interpretation
Industry Trends show a mortgage market shifting toward efficiency and digital workflows as 68% of originators expect more use of eClosing within 12 months, while tighter conditions are reflected in 30% of lenders cutting staffing for originations in 2023.
02 · Category
Mortgage Demand2 stats
Interpretation
Mortgage Demand Interpretation
Mortgage demand appears heavily concentrated in long term fixed products, with 30 year fixed applications making up 86.1% of all requests in the week ending May 10, 2024, and VA backed lending also staying substantial at 1.7 million loans in 2023.
03 · Category
Underwriting & Risk1 stats
01
2.8% foreclosure prevention actions per 1,000 loans (2023)[9]
Interpretation
Underwriting & Risk Interpretation
In 2023, foreclosure prevention actions averaged just 2.8% per 1,000 loans, suggesting that from an Underwriting and Risk perspective, only a relatively small share of loans requires active intervention to reduce foreclosure outcomes.
04 · Category
Cost & Operations4 stats
01
Mortgage origination cycle time averaged 45 days in 2023 (from application to closing)[2]
02
Digital mortgage pre-approval reduced time to decision by 60% (industry survey 2023)[10]
03
VA funding fee was 2.3% for first-time use regular military service in 2024 (0% for exempt)[8]
04
Median time to close a mortgage was 24 days for purchase loans and 30 days for refinances in 2023 (industry metrics)[4]
Interpretation
Cost & Operations Interpretation
For Cost & Operations, mortgage speed improvements are clearly tangible, with cycle times averaging 45 days in 2023 and closing shrinking to 24 days for purchase loans and 30 days for refinances in the same year, while digital pre-approval cuts decision time by 60%.
05 · Category
Technology & Fraud4 stats
01
Mortgage fraud affected an estimated $2.8 billion of originations in 2022 (FBI IC3 reporting)[11]
02
RPA reduced mortgage back-office processing costs by 30% for a large servicer in 2023 (industry case study)[12]
03
Fannie Mae’s Desktop Underwriter (DU) uses automated underwriting to support originations; DU feedback is used on 8.5 million loans annually (usage statistics)[13]
04
Mortgage fraud loss estimates for 2023 were $44 million from loan modification scams (FBI IC3)[11]
Interpretation
Technology & Fraud Interpretation
Technology is proving critical in the Mortgage Market’s fight against fraud and cost pressures, with automation cutting back office processing costs by 30% and automated underwriting supporting 8.5 million loans annually, even as mortgage fraud still tainted an estimated $2.8 billion of originations in 2022 and drove $44 million in 2023 losses from loan modification scams.
More related reading
06 · Category
Housing Finance1 stats
01
46.3% of mortgages were variable-rate or interest-only in Q1 2024[14]
Interpretation
Housing Finance Interpretation
In Q1 2024, 46.3% of new mortgages were variable-rate or interest-only, signaling that nearly half of Housing Finance borrowers were taking on payment structure risk rather than locking in more stable terms.
07 · Category
Market Rates1 stats
01
4.9% U.S. 30-year fixed mortgage rate volatility (standard deviation of weekly rates) during 2023[15]
Interpretation
Market Rates Interpretation
In 2023, the U.S. 30-year fixed mortgage rate showed moderate movement with a 4.9% weekly volatility, highlighting that under the Market Rates category mortgage costs were subject to noticeable but not erratic fluctuations.
08 · Category
Origination Activity3 stats
Interpretation
Origination Activity Interpretation
In Q1 2024, nearly half of mortgage originations were refinances at 47.1%, while both total applications and purchase applications were down year over year by 5.7% in the week ending May 3 and 6.3% in April, signaling that origination activity was being increasingly driven by refinancing rather than new home purchases.
09 · Category
Risk & Fraud1 stats
01
0.62% of mortgage loans entered delinquency within 6 months of origination (2023 cohort)[17]
Interpretation
Risk & Fraud Interpretation
In the 2023 cohort, just 0.62% of mortgage loans fell into delinquency within six months, suggesting a relatively low near-term risk profile for fraud and repayment-risk concerns under the Risk and Fraud category.
report visual · Comparison
Mortgage Market Snapshot (Share & Usage)
Compares key shares and adoption signals across the mortgage origination pipeline.
30-year fixed mortgage applications represented 86.1% of all applications in the week ending May 10, 202486.1%
46.3% of mortgages were variable-rate or interest-only in Q1 2024
46.3%
GSE share of US mortgage originations was 43% in 2023
43%
source-verifiedurban.org · mortgagebankers.org · newyorkfed.org2024
Reference
Cite This Report
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APA
Lukas Bauer. (2026, February 13). Mortgage Market Statistics. Gitnux. https://gitnux.org/mortgage-market-statistics
MLA
Lukas Bauer. "Mortgage Market Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/mortgage-market-statistics.
Chicago
Lukas Bauer. 2026. "Mortgage Market Statistics." Gitnux. https://gitnux.org/mortgage-market-statistics.