Mortgage Debt Service Ratio
Scheduled mortgage payments as a share of disposable personal income
Where the Mortgage Debt Service Ratio stands now
The Mortgage Debt Service Ratio was 5.8% in the second quarter of 2026. Since 2005 it has ranged from 4.8% in the first quarter of 2021 to 9.0% in the fourth quarter of 2007.
What it means for households: Housing Affordability & Mortgage Statistics Behind on Your Mortgage?
How the Mortgage Debt Service Ratio has moved since 2005
Mortgage Debt Service Ratio: little changed over the past year
Mortgage debt service as a percentage of disposable personal income: 5.8% in the second quarter of 2026, the same as a year earlier. Quarterly, 2005–2026.
What the Mortgage Debt Service Ratio measures
A higher rate is worse for households.
Mortgage Debt Service Ratio by quarter, 2005 to 2026
| Quarter | Rate (%) | Change from a year earlier (percentage points) |
|---|---|---|
| Q2 2026 | 5.8 | 0.0 |
| Q1 2026 | 5.9 | +0.1 |
| Q4 2025 | 5.9 | +0.2 |
| Q3 2025 | 5.9 | +0.2 |
| Q2 2025 | 5.8 | +0.1 |
| Q1 2025 | 5.8 | +0.1 |
| Q4 2024 | 5.7 | +0.1 |
| Q3 2024 | 5.7 | +0.1 |
| Q2 2024 | 5.7 | +0.2 |
| Q1 2024 | 5.7 | +0.1 |
| Q4 2023 | 5.6 | 0.0 |
| Q3 2023 | 5.6 | 0.0 |
| Q2 2023 | 5.5 | −0.2 |
| Q1 2023 | 5.6 | 0.0 |
| Q4 2022 | 5.6 | +0.2 |
| Q3 2022 | 5.6 | +0.3 |
| Q2 2022 | 5.7 | +0.5 |
| Q1 2022 | 5.6 | +0.8 |
| Q4 2021 | 5.4 | 0.0 |
| Q3 2021 | 5.3 | +0.1 |
| Q2 2021 | 5.2 | +0.2 |
| Q1 2021 | 4.8 | −1.1 |
| Q4 2020 | 5.4 | −0.5 |
| Q3 2020 | 5.2 | −0.7 |
| Q2 2020 | 5.0 | −0.9 |
| Q1 2020 | 5.9 | +0.1 |
| Q4 2019 | 5.9 | 0.0 |
| Q3 2019 | 5.9 | 0.0 |
| Q2 2019 | 5.9 | 0.0 |
| Q1 2019 | 5.8 | −0.1 |
| Q4 2018 | 5.9 | 0.0 |
| Q3 2018 | 5.9 | −0.1 |
| Q2 2018 | 5.9 | −0.1 |
| Q1 2018 | 5.9 | −0.1 |
| Q4 2017 | 5.9 | −0.1 |
| Q3 2017 | 6.0 | 0.0 |
| Q2 2017 | 6.0 | −0.1 |
| Q1 2017 | 6.0 | −0.1 |
| Q4 2016 | 6.0 | 0.0 |
| Q3 2016 | 6.0 | −0.1 |
| Q2 2016 | 6.1 | +0.1 |
| Q1 2016 | 6.1 | 0.0 |
| Q4 2015 | 6.0 | −0.1 |
| Q3 2015 | 6.1 | −0.1 |
| Q2 2015 | 6.0 | −0.2 |
| Q1 2015 | 6.1 | −0.3 |
| Q4 2014 | 6.1 | −0.3 |
| Q3 2014 | 6.2 | −0.2 |
| Q2 2014 | 6.2 | −0.2 |
| Q1 2014 | 6.4 | −0.1 |
| Q4 2013 | 6.4 | 0.0 |
| Q3 2013 | 6.4 | −0.2 |
| Q2 2013 | 6.4 | −0.3 |
| Q1 2013 | 6.5 | −0.3 |
| Q4 2012 | 6.4 | −0.7 |
| Q3 2012 | 6.6 | −0.6 |
| Q2 2012 | 6.7 | −0.7 |
| Q1 2012 | 6.8 | −0.7 |
| Q4 2011 | 7.1 | −0.5 |
| Q3 2011 | 7.2 | −0.6 |
| Q2 2011 | 7.4 | −0.5 |
| Q1 2011 | 7.5 | −0.6 |
| Q4 2010 | 7.6 | −0.7 |
| Q3 2010 | 7.8 | −0.6 |
| Q2 2010 | 7.9 | −0.6 |
| Q1 2010 | 8.1 | −0.6 |
| Q4 2009 | 8.3 | −0.5 |
| Q3 2009 | 8.4 | −0.4 |
| Q2 2009 | 8.5 | −0.1 |
| Q1 2009 | 8.7 | −0.2 |
| Q4 2008 | 8.8 | −0.2 |
| Q3 2008 | 8.8 | −0.1 |
| Q2 2008 | 8.6 | −0.1 |
| Q1 2008 | 8.9 | +0.4 |
| Q4 2007 | 9.0 | +0.5 |
| Q3 2007 | 8.9 | +0.6 |
| Q2 2007 | 8.7 | +0.6 |
| Q1 2007 | 8.5 | +0.6 |
| Q4 2006 | 8.5 | +0.8 |
| Q3 2006 | 8.3 | +0.4 |
| Q2 2006 | 8.1 | +0.5 |
| Q1 2006 | 7.9 | +0.4 |
| Q4 2005 | 7.7 | — |
| Q3 2005 | 7.9 | — |
| Q2 2005 | 7.6 | — |
| Q1 2005 | 7.5 | — |
Quarterly · Board of Governors of the Federal Reserve System data retrieved via FRED (MDSP)
Counties with the highest safety net and buffer scores
There's no county figure for this measure, so this list uses the safety net and buffer part of our County Distress Index.
| Rank | County | Score (0–100) |
|---|---|---|
| 1 | Choctaw County, OK | 94.8 |
| 2 | Stewart County, GA | 94.2 |
| 3 | Noxubee County, MS | 94.2 |
| 4 | Hudspeth County, TX | 94 |
| 5 | Brooks County, TX | 94 |
| 6 | Lake County, TN | 94 |
| 7 | Duval County, TX | 93.9 |
| 8 | Ripley County, MO | 93.5 |
| 9 | Dunklin County, MO | 93.3 |
| 10 | Quitman County, GA | 93.2 |
Questions about the Mortgage Debt Service Ratio
What is the mortgage debt service ratio?
It is scheduled mortgage payments as a share of disposable personal income, the after-tax income of everyone in the national accounts. It was 5.8% in the second quarter of 2026, little changed from 5.9% in the first quarter of 2026.
Does it show what homeowners pay for their mortgage?
No. It divides all mortgage payments by the income of everyone, including renters and owners without a mortgage, so it is lower than the share of income people with a mortgage pay. It also covers every open loan, not the payment on a home bought today.
Why track mortgage debt service separately?
The Board splits the household debt service ratio into two parts, mortgage and consumer debt, and the two add up to the total. Tracking the mortgage part on its own shows how much of scheduled debt payments goes to housing loans.
Where does this data come from?
The Federal Reserve Board publishes the ratio quarterly, on no fixed day, as part of its household debt service ratios. It reads scheduled payments from a random sample of credit records and divides them by disposable personal income from the national accounts. It is on FRED as MDSP.
Sources and method for the Mortgage Debt Service Ratio
- Board of Governors of the Federal Reserve System data retrieved via FRED (MDSP) We use the quarterly figures as published, from the first quarter of 2005 through the second quarter of 2026, with no adjustment of our own. Board of Governors of the Federal Reserve System’s report
We write with assistance from AI tools. Figures come from the data and sources named on this page.