There are several reasons why the American dream of home ownership has become a reality for so many people. One of them is growth and innovation in the mortgage market. Although mortgages on commercial property and apartment buildings make up an important part of the market, the bulk of mortgages are for family residences—more than $4 trillion of the $5.3 trillion total.
Suggested citation: “Mortgage-backed Securities,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-05, pp. 07, 05.01.1998.