Key Economic Indicators
U.S. Home, Commercial and Farm Mortgages
In 2001 home mortgages represented about 80% of the total mortgages in the U.S. . Following a steady decline in interest rates, total U.S. home, commercial and farm mortgages took off, growing by 22% during 2003.
In 2003, mortgages reached $1016.2 billion as compared to only $201.1 billion in 1995, representing 433% growth. In the second quarter of 2004, mortgages reached a new peak of $1.1 trillion (annualized amount). Home, farm and commercial mortgages in the second quarter of 2004 declined about 6.6% relative to the first quarter of 2004 due to the decline in the consumer confidence (see Consumer Confidence Index CCI).
