Mortgage REITs Data: Sector Indexes, the Rate Curve and the Collateral Beneath · Head-to-head
Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release vs Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve
Which mortgage reits data: sector indexes, the rate curve and the collateral beneath data fits your job: Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release, or Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve. API, files, or your warehouse. Daily, weekly, or hourly.
Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release
Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve
Where the fields line up
No shared field names. These two answer different questions.
| Field | Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release | Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve |
|---|---|---|
date | Observation period label opening every table: quarterly values formatted YYYY:Qn, annual values as YYYY, with the earliest rows sitting at 1945:Q4. | not in this set |
<series mnemonic> (e.g. FL644090075.Q) | Column headers are the official Z.1 series mnemonics: prefix FA marks transactions at a seasonally adjusted annual rate, FL/LM mark levels outstanding end of period, FU marks unclassified; the suffix encodes frequency (.Q quarterly, .A annual) while the numeric code identifies sector and instrument. | not in this set |
series_description | First field of each per-table dictionary row: the full description of the series, naming sector, instrument and asset/liability side. | not in this set |
line | Second field of dictionary rows: the printed-table line number the series occupies. | not in this set |
table_title | Third field of dictionary rows: the parent table the series belongs to. | not in this set |
units | Fourth field of dictionary rows: the units and adjustment basis - the field where naive analyses go to die, distinguishing millions outstanding at market value from transactions at seasonally adjusted annual rates. | not in this set |
ND | No-data placeholder filling the stretch before a series begins. It means the series did not yet exist - chart it as zero and you manufacture history that never happened. | not in this set |
series_name | not in this set | Series mnemonic carrying the RIF prefix plus instrument code and frequency suffix (.B daily, .WW weekly, .M monthly, .A annual) - the join key across the whole release. |
instrument | not in this set | Instrument code behind the series: FF federal funds, NFCP/FCP commercial paper, PRIME bank prime loan, DWPC discount window primary credit, TB Treasury bills, TCN nominal Treasury constant maturities, TCI inflation-indexed ones. |
maturity | not in this set | Tenor code: O overnight, M1-M3 commercial paper months, F02 discount window, D1-D12 and D30 Treasury maturities. |
unit | not in this set | Unit of measure for the series - annualised percentage rates throughout. |
time_period | not in this set | Observation date, one value per trading day covered - and one column per day in the current-release view. |
Coverage, side by side
| Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release | Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve | |
|---|---|---|
| Geographic | United States (national accounts) | — |
| Temporal | Quarterly from 1945:Q4 through 2026:Q1 in the June 11, 2026 release; annual layers alongside; some sector series begin later than the grid's start | — |
| Granularity | Sector x instrument matrix; about 205 published tables, 286 tabulated series groups, hundreds of series per table | — |
What each contains
Pick by fit, not by loyalty.
| Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release | Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve | |
|---|---|---|
| Observation date | `date` - compound quarterly or annual period (e.g. `1946:Q4`) | `TIME_PERIOD` - ISO trading day (e.g. `1954-07-01`); the HTML table uses one `<YYYYMonDD>` column per day |
| Observed value | Value columns headed by series mnemonic (e.g. `FA893065005.Q`) | `OBS_VALUE` inside `frb:Obs` elements, keyed by RIF series mnemonic |
| Units | Declared per table - e.g. millions of dollars, transactions at a seasonally adjusted annual rate | `UNIT` dimension per series (e.g. `Percent:_Per_Year`) |
| Series identity | Mnemonic decomposition: prefix FL/FA/FG (level, annual flow, growth) + sector code + instrument code + frequency suffix | Composed dimensions: `INSTRUMENT` (FF, PRIME, DWPC, TB, TCN...), `MATURITY` (O, M1-M3, F02, D1-D30), frequency suffix (.B,.WW,.M,.A) |
| Frequency | Fixed per release - quarterly and annual | Stated per series by suffix, spanning daily, weekly, monthly and annual averages |
| Missing-data convention | `ND` ('No Data') placeholder used before a series begins | Blank or `n.a.` cells where no rate qualifies (e.g. some commercial-paper cells) |
What each does better
Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release
The mortgage ledger itself. Tables F4.5, F4.5a and F4.5b carry total mortgages, one-to-four-family residential mortgages and multifamily residential mortgages by holder group and property type - the continuation of the long-running Mortgage Debt Outstanding series. The 2026:Q1 print reads 593,832 for total mortgages, 303,356 for one-to-four-family and 96,400 for multifamily (millions of dollars, transactions at a seasonally adjusted annual rate); the same series stood at 6,179 in 1946:Q4. No other single release holds that lineage; see mortgage debt outstanding.
Whole-system context around the collateral. Beyond mortgages, the release spans households and nonprofit organizations, nonfinancial corporate and noncorporate business, the federal government, GSEs and ABS issuers - REITs visible inside their sectors - with full balance sheets and net worth for the household sector and integrated macroeconomic accounts alongside. Three prebuilt dashboards distill the bulk for the impatient: Household Balance Sheet, Changes in Net Worth, and Nonfinancial Debt.
Continuity tooling few releases bother with. A mapping file ties every current table ID back to its former release series, so a model built on decades-old mnemonics survives the reorganization intact, and each of the 286 tabulated series groups arrives with its own data dictionary.
Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve
Depth behind the curve. Across its 263 series the release holds daily observations back to July 1954 on the federal funds line, whose earliest recorded print is 1.13 percent on 1954-07-01, with weekly, monthly and annual averages compiled beside the daily grain. A seventy-year unbroken daily rate history is a rare thing; see treasury yield curve and H.15 selected interest rates.
Methodology in writing. Footnotes pin the construction down: the effective federal funds rate is a volume-weighted median of FR 2420 reporting since March 1, 2016; commercial paper and Treasury bill rates quote on a discount basis over a 360-day year; and Treasury constant-maturity yields are interpolated by the US Treasury from daily curves. You inherit the fine print with the numbers.
The verdict
Verdict: sample both, pick by fit. Let the noun in your question decide. If the question names a borrower class or a holder group - how much one-to-four-family paper is outstanding, who holds multifamily mortgages, what households' net worth did this quarter - Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release is the only instrument shaped for it, and its mortgage tables carry the lineage to prove trends across eight decades.
Because both records carry the same 9/10 score, neither wins on craft; they win on different questions. Cut each sample to the sectors, tenors and dates you actually model, and let the returned rows make the call rather than the release acronyms.
Sample both, pick by fit. See Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release · See Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve
Fair questions
Is Federal Reserve Financial Accounts of the United States - Z.1 Statistical Release better than Federal Reserve H.15 Selected Interest Rates - Daily Yield Curve?
Different instruments, tied on craft - both score 9/10. The Z.1 wins whenever the question is a quantity: mortgage debt outstanding by holder group and property type, sector balance sheets, household net worth, quarterly back to 1945.
Which dataset reaches further back in time?
Each leads on its own layer. The Z.1's mortgage tables run quarterly from 1945:Q4 to 2026:Q1 with annual history back to 1945. The H.15's federal funds series holds daily observations from 1954-07-01, printing 1.13 percent on its first day.
Do the two datasets overlap anywhere?
Only thinly. They complement rather than compete: holdings and borrowing on one side, the yield curve the holdings are valued against on the other.
Which one should a mortgage REIT analyst sample first?
Sample both, pick by fit - the question decides. Most desks request both cut to their sectors and dates, since the mREIT trade is the spread between mortgage assets and the funding curve.
Can Datadory deliver both datasets together?
Yes. Either record arrives alone or merged onto one calendar, aligned on period and units so the quarterly-to-daily join is done before it reaches you - delivered daily, weekly, or hourly, your call. Name the sectors, tenors and windows when you request the sample and it lands pre-cut, with field definitions and coverage profiles attached.