2019-09-20 Mortgage Debt Hits Record, Eclipsing 2008 Peak
| By:
Brad Beckett
Mortgage Debt Hits Record, Eclipsing 2008 PeakBY BRAD BECKETT ON
A recent report from the Wall Street Journal (reposted by Realtor.com) says that U.S. mortgage debt reached a record in Q2, exceeding a peak last seen in 2008. Data from the Federal Reserve Bank of New York show that mortgage balances were up $162 billion to $9.406 trillion. The previous high water mark was $9.294 trillion back in Q3 of 2008. The article also pointed out that total household debt has been on the rise since mid-2013 rising 1.4% in the first quarter to $13.86 trillion, marking the 20th consecutive quarter of increases.
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