For immediate release
Contact: Sarah Katz, Media Relations
Philadelphia, PA – The Federal Reserve Bank of Philadelphia has expanded its Large Bank Credit Card and Mortgage Data series with 67 new measurements that will allow users to better understand how consumers are using and accessing credit cards and mortgages from the country’s largest banking institutions.
The additional 15 credit card and 52 first-lien mortgage measurements contain data since 2012 and include:
- total credit card purchase volume by credit score,
- interest rate data for both credit cards and mortgages,
- the share of adjustable-rate and fixed-rate mortgage balances and originations; and
- types of properties consumers are mortgaging (single family, townhouse, second home, and investment property) as well as delinquency rates on those properties.
These data are included in the Large Bank Credit Card and Mortgage interactive dashboard, making it easier to analyze the trends over time.
Insights from the First Quarter of 2025
The Large Bank Credit Card and Mortgage Data from the first quarter of 2025 showed:
- Credit card performance showed signs of improvement: Both the share of card balances and accounts 30, 60, and 90 day past due declined on an annual basis for the first time since the fourth quarter of 2021. In addition, the share of credit card accounts making just the minimum payment fell 59 basis points.
- Interest rates on credit cards are nearly the highest they’ve been since 2012: The average purchase APR for general-purpose credit cards is 24.62 percent, compared with an average of 20.14 percent during the pandemic period.
- In search of cost savings, homebuyers are opting for adjustable-rate mortgages (ARMs) over fixed-rate products: Conventional ARMs composed over 25 percent of large bank first mortgage originations, compared with only 7.8 percent in the first quarter of 2021.
Read the full report and explore the new variables.
About the Philadelphia Fed’s Large Bank Credit Card and Mortgage Data
Credit card data represent roughly four-fifths of total U.S. bank card balances. Mortgage data represent roughly one-eighth of the U.S. residential mortgage market.
Information is gathered from Federal Reserve Y-14M data collected by U.S. bank holding companies, U.S. intermediate holding companies of foreign banking organizations, and covered savings and loan holding companies with $100 billion or more in total consolidated assets.
About the Federal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy; supervises state member banks, bank holding companies, and savings and loan holding companies; and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.