Expenditures: Mortgage Interest and Charges by Housing Tenure: Homeowner with Mortgage
CXUOWNMORTGLB1703M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,936.00
Year-over-Year Change
15.32%
Date Range
1/1/2003 - 1/1/2023
Summary
This economic trend measures mortgage interest and charges paid by homeowners with a mortgage in the United States. It provides insights into a key component of household expenditures and can inform housing market and monetary policy analysis.
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 Housing Tenure: Homeowner with Mortgage' series tracks the monthly average amount of mortgage interest and charges paid by U.S. homeowners who have an outstanding mortgage. This metric is an important indicator of housing costs and consumer financial conditions.
Methodology
The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to assess housing affordability and the impact of monetary policy on household budgets.
Key Facts
- Homeowners with a mortgage spent an average of $496 per month on mortgage interest and charges in 2022.
- Mortgage interest and charges account for around 10% of total household expenditures for homeowners with a mortgage.
- Mortgage interest rates have risen significantly since 2021, increasing housing costs for many U.S. households.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly average amount of mortgage interest and charges paid by U.S. homeowners who have an outstanding mortgage.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into a key component of household expenditures and can inform housing market and monetary policy analysis.
Q: How is this data collected or calculated?
A: The data is collected through household surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess housing affordability and the impact of monetary policy on household budgets.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Expenditures: Mortgage Interest and Charges by Housing Tenure: Homeowner with Mortgage (CXUOWNMORTGLB1703M), retrieved from FRED.