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Mortgage Debt

Home-mortgage debt outstanding, the biggest household liability.

Mortgage Debt
$13.9T
Millions of dollars · latest, Jan 2026
vs prior quarter▲ 0.5%
vs year ago▲ 2.8%
1953-54 Recession · Jul 1953 – May 19541957-58 Recession · Aug 1957 – Apr 19581960-61 Recession · Apr 1960 – Feb 19611969-70 Recession · Dec 1969 – Nov 19701973-75 Recession · Nov 1973 – Mar 19751980 Recession · Jan 1980 – Jul 19801981-82 Recession · Jul 1981 – Nov 19821990-91 Recession · Jul 1990 – Mar 19912001 Recession · Mar 2001 – Nov 2001Global Financial Crisis · Dec 2007 – Jun 2009COVID-19 Recession · Feb 2020 – Apr 2020$2T$4T$6T$8T$10T$12T1960197019801990200020102020$13.9T
Mortgage Debt — one value per year; US recessions are shaded on the chart.
YearMortgage Debt
1951$0.1T
1952$0.1T
1953$0.1T
1954$0.1T
1955$0.1T
1956$0.1T
1957$0.1T
1958$0.1T
1959$0.1T
1960$0.1T
1961$0.2T
1962$0.2T
1963$0.2T
1964$0.2T
1965$0.2T
1966$0.2T
1967$0.2T
1968$0.3T
1969$0.3T
1970$0.3T
1971$0.3T
1972$0.3T
1973$0.4T
1974$0.4T
1975$0.5T
1976$0.5T
1977$0.6T
1978$0.7T
1979$0.8T
1980$0.9T
1981$1.0T
1982$1.0T
1983$1.1T
1984$1.2T
1985$1.5T
1986$1.6T
1987$1.8T
1988$2.1T
1989$2.3T
1990$2.5T
1991$2.7T
1992$2.8T
1993$3.0T
1994$3.2T
1995$3.3T
1996$3.5T
1997$3.7T
1998$4.0T
1999$4.4T
2000$4.8T
2001$5.3T
2002$6.0T
2003$6.9T
2004$7.8T
2005$8.9T
2006$9.9T
2007$10.6T
2008$10.5T
2009$10.4T
2010$10.0T
2011$9.8T
2012$9.5T
2013$9.4T
2014$9.3T
2015$9.4T
2016$9.6T
2017$9.9T
2018$10.1T
2019$10.4T
2020$10.8T
2021$11.8T
2022$12.7T
2023$13.0T
2024$13.4T
2025$13.8T
2026$13.9T

Hover the line to read any month. Drag across the chart to zoom; double-click to reset.

Source: FRED · HHMSDODNS · series · Oct 1951 to Jan 2026 · latest-revised

Refreshed Jul 31, 2026 from FRED.

Home-mortgage debt outstanding, the biggest household liability.

Home-mortgage debt outstanding for US households and nonprofits (Fed Z.1).

Source: FRED · Jan 2026 · Full lesson → Learn

About the bands. Shaded spans are NBER-dated US recessions, drawn as factual overlays. They mark when the economy contracted, not why. Lining an event up with a move is not evidence it caused the move.