{
  "meta": {
    "slug": "mortgages-with-less-than-10-percent-equity",
    "name": "Mortgages With Less Than 10 Percent Equity",
    "branded_name": null,
    "description": null,
    "source": "Federal Housing Finance Agency, National Mortgage Database Aggregate Statistics",
    "source_url": "https://www.fhfa.gov/data/nmdb",
    "frequency": "quarterly",
    "units": "percent",
    "fred_series_id": null,
    "fred_edge_series_id": null,
    "bls_series_id": null,
    "series_id": null,
    "measurement_basis": "Share of outstanding first mortgages, by number of loans, whose estimated current loan-to-value ratio is above 90 percent, so the owner's equity is under 10 percent of the home's estimated value or below zero. It is the sum of two shares FHFA publishes for the same mortgages in the same table of its Outstanding Residential Mortgage Statistics (All Mortgages, national): loan-to-value above 90 percent up to 100 percent (PCT_MTMLTV_91_100) and above 100 percent (PCT_MTMLTV_GT100), as of each quarter's end. FHFA rounds each share to a tenth of a percentage point, so the sum can differ from an unrounded total by up to a tenth. The home's current value is FHFA's estimate: its value at origination updated with FHFA's house price index for the area. First mortgages only, not second liens or home equity lines. It covers the mortgages in FHFA's National Mortgage Database, a nationally representative 1-in-20 sample of closed-end first mortgages reported to the credit bureaus; mortgages on investor-owned homes and manufactured homes are not as well represented. If FHFA restates a published quarter, we log the new figure for review and keep the published one.",
    "door": 3,
    "trend": "rising",
    "trend_suppressed": null,
    "series_breaks": [],
    "direction": "higher_is_worse",
    "last_updated": "2026-10-01T10:57:43Z",
    "stale": false,
    "stale_reason": null,
    "data_status": "current",
    "page_url": "https://americandefault.org/indicators/mortgages-with-less-than-10-percent-equity/",
    "attribution": "American Default (americandefault.org) — Free to use with attribution"
  },
  "current": {
    "value": 4.7,
    "date": "2026-06-30"
  },
  "last_verified": null,
  "data": [
    {
      "date": "2013-03-31",
      "value": 25.2
    },
    {
      "date": "2013-06-30",
      "value": 22.7
    },
    {
      "date": "2013-09-30",
      "value": 20.8
    },
    {
      "date": "2013-12-31",
      "value": 19.6
    },
    {
      "date": "2014-03-31",
      "value": 18.5
    },
    {
      "date": "2014-06-30",
      "value": 16.2
    },
    {
      "date": "2014-09-30",
      "value": 14.6
    },
    {
      "date": "2014-12-31",
      "value": 13.8
    },
    {
      "date": "2015-03-31",
      "value": 12.6
    },
    {
      "date": "2015-06-30",
      "value": 11.6
    },
    {
      "date": "2015-09-30",
      "value": 10.9
    },
    {
      "date": "2015-12-31",
      "value": 10.6
    },
    {
      "date": "2016-03-31",
      "value": 10.2
    },
    {
      "date": "2016-06-30",
      "value": 9.3
    },
    {
      "date": "2016-09-30",
      "value": 8.5
    },
    {
      "date": "2016-12-31",
      "value": 8.5
    },
    {
      "date": "2017-03-31",
      "value": 8.5
    },
    {
      "date": "2017-06-30",
      "value": 7.6
    },
    {
      "date": "2017-09-30",
      "value": 7.1
    },
    {
      "date": "2017-12-31",
      "value": 7.1
    },
    {
      "date": "2018-03-31",
      "value": 6.7
    },
    {
      "date": "2018-06-30",
      "value": 6.3
    },
    {
      "date": "2018-09-30",
      "value": 6.2
    },
    {
      "date": "2018-12-31",
      "value": 6.6
    },
    {
      "date": "2019-03-31",
      "value": 6.3
    },
    {
      "date": "2019-06-30",
      "value": 6.1
    },
    {
      "date": "2019-09-30",
      "value": 6.2
    },
    {
      "date": "2019-12-31",
      "value": 6.4
    },
    {
      "date": "2020-03-31",
      "value": 6.3
    },
    {
      "date": "2020-06-30",
      "value": 6.6
    },
    {
      "date": "2020-09-30",
      "value": 6.5
    },
    {
      "date": "2020-12-31",
      "value": 6.1
    },
    {
      "date": "2021-03-31",
      "value": 5.3
    },
    {
      "date": "2021-06-30",
      "value": 3.3
    },
    {
      "date": "2021-09-30",
      "value": 2.6
    },
    {
      "date": "2021-12-31",
      "value": 2.8
    },
    {
      "date": "2022-03-31",
      "value": 2.6
    },
    {
      "date": "2022-06-30",
      "value": 1.8
    },
    {
      "date": "2022-09-30",
      "value": 2.4
    },
    {
      "date": "2022-12-31",
      "value": 3.3
    },
    {
      "date": "2023-03-31",
      "value": 3.6
    },
    {
      "date": "2023-06-30",
      "value": 3.3
    },
    {
      "date": "2023-09-30",
      "value": 3.4
    },
    {
      "date": "2023-12-31",
      "value": 3.8
    },
    {
      "date": "2024-03-31",
      "value": 3.8
    },
    {
      "date": "2024-06-30",
      "value": 3.5
    },
    {
      "date": "2024-09-30",
      "value": 3.7
    },
    {
      "date": "2024-12-31",
      "value": 4.1
    },
    {
      "date": "2025-03-31",
      "value": 4.2
    },
    {
      "date": "2025-06-30",
      "value": 4.3
    },
    {
      "date": "2025-09-30",
      "value": 4.7
    },
    {
      "date": "2025-12-31",
      "value": 4.9
    },
    {
      "date": "2026-03-31",
      "value": 5
    },
    {
      "date": "2026-06-30",
      "value": 4.7
    }
  ]
}