Total mortgage debt outstanding at the end of 2008 approached $14.6 trillion.Which of the following types of mortgage loans accounts for the greatest percentage of mortgage debt outstanding?

Question

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According to the Federal Reserve, as of Q3 2020, residential (1-4 family) mortgages accounted for around 72% of total mortgage debt outstanding, or approximately $10.5 trillion. This is more than five times the amount of debt outstanding for apartment (multifamily) mortgages ($1.9 trillion) and more than 15 times the amount of debt outstanding for commercial mortgages ($0.7 trillion) and farm mortgages ($0.4 trillion). Therefore, A) Residential (1-4 family) accounts for the greatest percentage of mortgage debt outstanding.

Total Mortgage Debt Outstanding at the End of 2008 Approached