This series is constructed as the aggregated daily amount value of the RP transactions reported by the New York Fed as part of the Temporary Open Market Operations. Temporary open market operations involve short-term repurchase and reverse repurchase agreements that are designed to temporarily add or drain reserves available to the banking system and influence day-to-day trading in the federal funds market. A repurchase agreement (known as repo or RP) is a transaction in which the New York Fed under the authorization and direction of the Federal Open Maker Committee buys a security from an eligible counterparty under an agreement to resell that security in the future. For these transactions, eligible securities are U.S. Treasury instruments, federal agency debt and the mortgage-backed securities issued or fully guaranteed by federal agencies.

This series is constructed as the aggregated daily amount value of the RP transactions reported by the New York Fed as part of the Temporary Open Market Operations. Temporary open market operations involve short-term repurchase and reverse repurchase agreements that are designed to temporarily add or drain reserves available to the banking system and influence day-to-day trading in the federal funds market. A repurchase agreement (known as repo or RP) is a transaction in which the New York Fed under the authorization and direction of the Federal Open Maker Committee buys a security from an eligible counterparty under an agreement to resell that security in the future. For these transactions, eligible securities are U.S. Treasury instruments, federal agency debt and the mortgage-backed securities issued or fully guaranteed by federal agencies.

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

This index includes rate locks from Federal Housing Authority loans. Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

This index includes rate locks from U.S. Department of Agriculture loans. Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

This index includes rate locks from U.S. Department of Veterans Affairs loans. Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Optimal Blue Mortgage Market Indices (https://www2.optimalblue.com/obmmi/)™ (OBMMI™) is calculated from actual locked rates with consumers across over one-third of all mortgage transactions nationwide. OBMMI includes multiple mortgage pricing indices developed around the most popular products and specific borrower and loan level attributes. Each index is calculated as the average of all appropriate rate locks locked through the Optimal Blue product eligibility and pricing engine on a given day. More details about methodology and definitions are available here (https://www2.optimalblue.com/obmmi/).

Estimate of the percentage of the population with a credit score below 660. Counties with fewer than 20 people in the sample are not reported for privacy reasons. The estimate is based on the representative primary sample of the New York Fed Consumer Credit Panel, which includes only the primary sample member per household (about 5% of the U.S. credit report population, defined as all U.S. residents with a credit history). For more details about the data and sample, see "An Introduction to the Consumer Credit Panel" (https://www.newyorkfed.org/research/staff_reports/sr479.html). Source: Federal Reserve Bank of New York/Equifax Consumer Credit Panel Reprinted with permission. Copyright © 2016, Equifax. All rights reserved. Reproduction of median credit score per county in any form is prohibited except with the prior written permission of Equifax.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release (http://www.federalreserve.gov/releases/h8)

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release (http://www.federalreserve.gov/releases/h8)

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.

For further information, please refer to the Board of Governors of the Federal Reserve System's H.8 release, online at http://www.federalreserve.gov/releases/h8/.