The FHFA has updated the National Mortgage Database (NMDB), revealing 50.8 million outstanding mortgages worth $11.7 trillion as of Q1 2024. 9% of these mortgages have interest rates below 3%, while 14.3% have rates of 6% or higher. Adjustable-rate mortgages constitute 3.5% of the total. The median monthly payment is $1,520, and the average credit score for active borrowers is 743. The NMDB also includes new survey data on appraisal satisfaction, willingness to move, and factors influencing lender/broker choice.
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