Mortgage Insurance Data at a Glance 2025 is a biennial update to the 2023, 2021, and 2019 data chartbook publications which provide analysis on the role of private mortgage insurance (PMI) in the agency mortgage market. For 68 years, the availability of PMI has helped over 40 million borrowers who have insufficient funds for a 20 percent down payment access homeownership. This chartbook quantifies the role of PMI in the agency mortgage market, detailing which borrowers use PMI, how they compare with borrowers who use other forms of mortgage insurance, how PMI-insured loans perform, and the role of PMI in reducing loss to investors.

These highlighted trends stood out in the 2025 edition of the chartbook:

• Conventional mortgages with PMI have been the most common execution for low down payment purchasers since 2018.
• Total loss severity for the 1994 to 2024 origination period of GSE loans without PMI (48.0) was 16.7 percent higher than the loss severity for loans with PMI (31.2), indicating that PMI is highly effective in reducing losses to the GSEs.
• Capitalization of the mortgage insurance industry has increased since 2008, with MI companies raising $19.5 billion dollars in total capital to keep up with capital requirements, while the average private MI in force premium yield has declined from 52.5 to 39.4 basis points between 2017 and 2024.