Mortgage debt outstanding in the U.S. 2001-2021

Despite a short period of decrease after the burst of the U.S. housing bubble and the global financial crisis, the total amount of mortgage debt in the United States has been on the rise in recent years. In 2021, the mortgage debt amounted to 18 trillion U.S. dollars, up from 16.8 trillion U.S. dollars in 2020.

Which factors impact the amount of mortgage debt?

One of the most important factors responsible for the growth of mortgage debt is the number of home sales: The more home transactions, the more mortgages are sold, adding to the volume of debt outstanding. Additionally, as house prices increase, so does the gross lending and debt outstanding. On the other hand, high numbers of housing unit foreclosures and mortgage debt restructuring and short-sales can reduce mortgage debt.

Which property type has the largest share of the mortgage market?

The total mortgage debt includes different property types, such as one-to-four family residential, multifamily residential, commercial, and farm, but the overwhelming share of debt can be attributed to mortgage debt one-to-four family residences.