Expenditures: Mortgage Interest and Charges by Number of Earners: Consumer Units of Two or More People, No Earners
CXUOWNMORTGLB0704M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,540.00
Year-over-Year Change
25.31%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures mortgage interest and charges paid by consumer units of two or more people with no earners. It provides insights into the housing costs faced by households without income from employment.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Expenditures: Mortgage Interest and Charges by Number of Earners data series tracks the average monthly spending on mortgage interest and related fees for consumer units of two or more people with zero earners. This metric is valuable for understanding the financial pressures faced by non-working households.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
Policymakers and analysts use this trend to assess the housing affordability challenges for unemployed or retired families.
Key Facts
- The average monthly mortgage interest and charges for two-person households with no earners was $305 in 2021.
- Mortgage costs make up a significant portion of spending for non-working families.
- Trends in this metric can indicate housing affordability challenges for the unemployed.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly mortgage interest and related charges paid by consumer units of two or more people with no earners.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the housing affordability challenges faced by unemployed or retired households, which is valuable information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the housing cost burdens for non-working families and inform policies related to housing affordability.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Federal Reserve, with a typical update delay of 1-2 months.
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Citation
U.S. Federal Reserve, Expenditures: Mortgage Interest and Charges by Number of Earners: Consumer Units of Two or More People, No Earners (CXUOWNMORTGLB0704M), retrieved from FRED.