Graph and download economic data for Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks (TMBACBW027SBOG) from 2009-07-01 to 2026-04-08 about mortgage-backed, agency, Treasury, securities, banks, depository institutions, and USA.

The year 2021 saw the peak in issuance of residential mortgage backed securities (MBS), at *** trillion U.S. dollars. Since then, MBS issuance has slowed, reaching *** trillion U.S. dollars in 2025. What are mortgage backed securities? A mortgage backed security is a financial instrument in which mortgages are bundled together and sold to investors. The idea is that the risk of these individual mortgages is pooled when they are packaged together. This is a sound investment policy, unless the foreclosure rate increases significantly in a short amount of time. Mortgage risk Since mortgages are loans backed by an asset, the house, the risk is often considered relatively low. However, the loan maturities are very long, sometimes decades, meaning lenders must factor in the risk of a shift in the economic climate. As such, interest rates on longer mortgages tend to be higher than on shorter loans. The ten-year treasury yield influences these rates, since it is a long-term rate that most investors accept as risk-free. Additionally, a decline in the value of homeowner equity could lead to a situation where the debtor is “underwater” and owes more than the home is worth.

The volume of mortgage-backed securities issuance fluctuated significantly in the United States between 2014 and 2024. In 2024, the volume of the mortgage-backed securities issuance in the United States amounted to 1.6 trillion U.S. dollars.

United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Domestically Chartered Commercial Banks was -6.50000 % Chg. at Annual Rate in January of 2026, according to the United States Federal Reserve. Historically, United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Domestically Chartered Commercial Banks reached a record high of 40.30000 in July of 2010 and a record low of -17.60000 in March of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Domestically Chartered Commercial Banks - last updated from the United States Federal Reserve on March of 2026.

Graph and download economic data for Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks (H8B1301NCBCQG) from Q4 2009 to Q1 2026 about mortgage-backed, agency, Treasury, securities, banks, depository institutions, and USA.

United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks was 2723.88600 Bil. of U.S. $ in April of 2026, according to the United States Federal Reserve. Historically, United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks reached a record high of 2996.81300 in February of 2022 and a record low of 958.61240 in October of 2009. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks - last updated from the United States Federal Reserve on April of 2026.

Graph and download economic data for Rest of the World; U.S. Mortgage-Backed Securities and Other U.S. Asset-Backed Bonds; Asset, Market Value Levels (BOGZ1LM263063603Q) from Q4 1945 to Q4 2025 about asset-backed, mortgage-backed, market value, bonds, securities, assets, and USA.

The weekly average value of mortgage-backed securities held by Federal Reserve Banks in the United States decreased in the second half of 2022 and the first half of 2023, after a period of sharp increase in 2020 and 2021. As of ************, the weekly average value of mortgage-backed securities held by the Federal Reserve amounted to roughly **** trillion U.S. dollars.

Mortgage-Backed Securities (MBS) Market Outlook 2025-2034

The global mortgage-backed securities (MBS) market was valued at $12.4 billion in 2025 and is projected to reach $22.1 billion by 2034, expanding at a compound annual growth rate of 6.6% during the forecast period from 2026 to 2034. Mortgage-backed securities represent a category of asset-backed investment instruments secured by pools of mortgage loans, providing investors with periodic cash flows derived from underlying mortgage payments. The MBS market occupies a structurally critical position within global fixed-income capital markets, enabling mortgage originators to offload credit risk, recycle capital, and extend lending capacity to homebuyers and commercial real estate developers worldwide. Throughout 2025, strengthening residential real estate demand across North America and Asia Pacific, combined with normalization of interest rate conditions following the monetary policy tightening cycle of 2022-2023, has reinvigorated primary mortgage origination volumes, thereby expanding the pipeline of mortgages available for securitization. The growing appetite of institutional investors, including pension funds, insurance companies, sovereign wealth funds, and asset managers, for investment-grade, yield-generating instruments with defined duration profiles continues to underpin secondary market demand for both agency and non-agency MBS. Additionally, regulatory modernization efforts across Europe and Asia Pacific are expanding the legal and operational frameworks necessary to support domestic MBS issuance, enabling new pools of mortgage assets to enter the global securitization ecosystem. The interplay between credit quality management, prepayment risk modeling, and interest rate sensitivity analytics is becoming increasingly sophisticated, with market participants leveraging artificial intelligence and machine learning tools to price and manage MBS portfolios with greater precision than at any prior point in the market's history. By 2026, the market is expected to benefit further from the Federal Reserve's projected interest rate normalization, which will stimulate refinancing activity, generate new mortgage originations, and deepen the supply of securitizable loan pools available to issuers in the United States and other key markets.

Graph and download economic data for Repurchase Agreements: Mortgage-Backed Securities Purchased by the Federal Reserve in the Temporary Open Market Operations (RPMBSD) from 2000-01-03 to 2026-04-15 about mortgage-backed, repurchase agreements, purchase, trade, securities, and USA.

Agency MBS Market Outlook

According to our latest research, the global Agency MBS market size reached USD 9.8 trillion in 2024, with a robust compound annual growth rate (CAGR) of 5.1% observed over the past year. The market is expected to grow steadily, reaching an estimated USD 15.7 trillion by 2033, driven by factors such as heightened investor demand for stable fixed-income instruments, evolving regulatory frameworks, and ongoing innovation in mortgage-backed securities structuring. As per our latest research, the Agency MBS market is witnessing significant momentum due to its perceived safety, liquidity, and the continued support from government-sponsored enterprises (GSEs).

One of the primary growth factors for the Agency MBS market is the persistent demand for yield in a low-interest-rate environment. Institutional investors, including pension funds, insurance companies, and asset managers, are increasingly allocating capital to Agency MBS due to their attractive risk-adjusted returns and implicit government backing. The market’s resilience during periods of economic uncertainty further enhances its appeal, with investors seeking the safety net provided by Ginnie Mae, Fannie Mae, and Freddie Mac. Additionally, the ongoing expansion of the global middle class and rising homeownership rates, particularly in North America and Asia Pacific, are fueling the origination of underlying mortgages, thereby expanding the pool of eligible assets for securitization.

Technological advancements and digitalization are also playing a pivotal role in the Agency MBS market’s growth trajectory. Enhanced data analytics, automated underwriting processes, and blockchain-based securitization platforms are improving transparency, efficiency, and risk assessment in the mortgage origination and securitization value chain. These innovations are not only reducing operational costs but also enabling more granular risk segmentation and tailored product offerings. Moreover, regulatory reforms aimed at increasing market stability—such as stricter capital requirements and enhanced disclosure standards—are fostering greater investor confidence and participation, particularly among global institutional investors seeking diversification.

Another key driver is the evolving regulatory and macroeconomic landscape. The proactive involvement of central banks, especially the U.S. Federal Reserve, in purchasing Agency MBS as part of quantitative easing programs has provided a significant liquidity buffer and compressed spreads, making these securities even more attractive. Furthermore, the gradual normalization of monetary policy is expected to create new opportunities for active portfolio management and trading strategies within the Agency MBS space. The combination of strong government support, robust investor demand, and continuous product innovation is positioning the Agency MBS market for sustained growth over the forecast period.

Regionally, North America continues to dominate the Agency MBS market, accounting for over 70% of global issuance in 2024, driven by the deep and liquid U.S. secondary mortgage market, strong regulatory oversight, and the presence of major GSEs. Europe and Asia Pacific are emerging as growth frontiers, with increasing adoption of securitization frameworks and rising cross-border investment flows. While Latin America and the Middle East & Africa currently represent smaller shares, ongoing financial sector reforms and efforts to deepen local capital markets are expected to provide new growth avenues in these regions. Overall, the global Agency MBS market is characterized by a dynamic interplay of macroeconomic, regulatory, and technological factors, underpinning its long-term growth outlook.

Product Type Analysis

The Agency MBS market is broadly segmented by product type into Pass-Throughs, Collateralized Mortgage Obligations (CMOs), Stripped MBS, and Others. Pass-Through securities remain the dominant product type, accounting for appr

Among the ** Federal Reserve Banks of the Federal Reserve System in the United States, the Federal Reserve Bank of New York held by far the highest value of mortgage-backed securities in 2024. With approximately **** trillion U.S. dollars worth of securities, the Federal Reserve Bank of New York held over ** percent of the Fed's total mortgage-backed securities. It was followed by the Federal Reserve Bank of Richmond, which held roughly *** billion U.S. dollars worth of securities.

View weekly updates and historical trends for US Commercial Banks Treasury and Agency Securities: Mortgage-backed Securities (MBS). from United States. So…

Treasury plans to sell up to $10 billion of securities per month, subject to market conditions. This is in addition to principal paydowns (currently ranging between $2 and $4 billion per month). If the sales proceeded at the full $10 billion per month, the portfolio would be unwound in whole over approximately one year, depending on future rates of prepayments. If market conditions change and Treasury slows asset sales, it is possible that the unwind will take a longer period of time. Excel data shows the total principal and interest that the Treasury received from purchase to sell off of the MBS securities.

View monthly updates and historical trends for US Foreign-related Institutions Treasury and Agency Securities: Mortgage-backed Securities (MBS) Annual Gro…

Graph and download economic data for Assets: Securities Held Outright: Mortgage-Backed Securities: Wednesday Level (WSHOMCB) from 2002-12-18 to 2026-03-25 about outright, mortgage-backed, securities, assets, and USA.

United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks was 2.60000 % Chg. at Annual Rate in October of 2025, according to the United States Federal Reserve. Historically, United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks reached a record high of 27.70000 in October of 2020 and a record low of -11.10000 in October of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), All Commercial Banks - last updated from the United States Federal Reserve on February of 2026.

United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Foreign-Related Institutions was 10.80000 % Chg. at Annual Rate in February of 2026, according to the United States Federal Reserve. Historically, United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Foreign-Related Institutions reached a record high of 280.40000 in December of 2017 and a record low of -243.20000 in February of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Foreign-Related Institutions - last updated from the United States Federal Reserve on April of 2026.

United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Foreign-Related Institutions was 70.90000 % Chg. at Annual Rate in October of 2025, according to the United States Federal Reserve. Historically, United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Foreign-Related Institutions reached a record high of 89.40000 in April of 2015 and a record low of -111.90000 in January of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Foreign-Related Institutions - last updated from the United States Federal Reserve on March of 2026.

United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Large Domestically Chartered Commercial Banks was -10.00000 % Chg. at Annual Rate in January of 2026, according to the United States Federal Reserve. Historically, United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Large Domestically Chartered Commercial Banks reached a record high of 153.90000 in February of 2004 and a record low of -75.70000 in August of 2003. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Treasury and Agency Securities: Mortgage-Backed Securities (MBS), Large Domestically Chartered Commercial Banks - last updated from the United States Federal Reserve on March of 2026.