U.S. mortgage industry - statistics & facts

Mortgage debt is one of the main sources of debt held by Americans. The U.S. mortgage industry is one of the largest in the world, and the infamous subprime mortgage crisis of 2007 is well known across the globe. That subprime mortgage crisis set the stage and conditions that led to the financial turmoil and subsequent recession of 2008. Outstanding mortgage debt went down after the 2008 financial crisis, but has since bounced back and been on the rise since 2013.

The mortgage industry is a vital part of the U.S. economy

Mortgage interest rates in the United States were dropped to an all-time low in 2020, which makes taking out a mortgage more attractive to consumers. Many Americans became homeowners in 2020, in spite of the pandemic, which is likely a result of these historically low mortgage rates. This highlights the importance of the mortgage industry for the U.S. economy as a whole.

How has the COVID-19 pandemic affected the mortgage industry?

Mortgage payment relief was one of the key actions the U.S. government took in Spring 2020 to ease the burden on homeowners suffering financially due to the pandemic. Unemployment levels reached record high levels due to mass business closures, which left many homeowners out of work and struggling to make their monthly payments. However, the impact this will have on the mortgage providers is yet to be seen, as they are unlikely to have enough capital on hand to weather the storm.

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Macroeconomics

Housing market

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In the following 6 chapters, you will quickly find the 37 most important statistics relating to "Mortgage industry in the U.S.".

Mortgage industry of the United States

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U.S. mortgage industry - statistics & facts

Mortgage debt is one of the main sources of debt held by Americans. The U.S. mortgage industry is one of the largest in the world, and the infamous subprime mortgage crisis of 2007 is well known across the globe. That subprime mortgage crisis set the stage and conditions that led to the financial turmoil and subsequent recession of 2008. Outstanding mortgage debt went down after the 2008 financial crisis, but has since bounced back and been on the rise since 2013.

The mortgage industry is a vital part of the U.S. economy

Mortgage interest rates in the United States were dropped to an all-time low in 2020, which makes taking out a mortgage more attractive to consumers. Many Americans became homeowners in 2020, in spite of the pandemic, which is likely a result of these historically low mortgage rates. This highlights the importance of the mortgage industry for the U.S. economy as a whole.

How has the COVID-19 pandemic affected the mortgage industry?

Mortgage payment relief was one of the key actions the U.S. government took in Spring 2020 to ease the burden on homeowners suffering financially due to the pandemic. Unemployment levels reached record high levels due to mass business closures, which left many homeowners out of work and struggling to make their monthly payments. However, the impact this will have on the mortgage providers is yet to be seen, as they are unlikely to have enough capital on hand to weather the storm.

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