Observations from Atmospheric Chemistry Experiment–Fourier Transform Spectrometer (ACE-FTS) are used to examine global stratospheric water vapour trends for 2004–2021. The satellite measurements are used to quantify trend contributions arising from changes in tropical tropopause temperatures, general circulation patterns, and methane concentrations. While most of the observed trends can be explained by these changes, there remains an unaccounted-for and increasing source of water vapour in the lower mid-stratosphere at mid-latitudes, which is discussed.