U.S. Mortgage Debt Rises to $8.8 Trillion
Marketplace, Feb. 13, 2018–Sabri Ben-Achour, Jana Kasperkevic
Americans owe $8.88 trillion in mortgages loans. That’s a good thing, according to Joelle Scally, the administrator of the Center for Microeconomic Data at the New York Fed. Household debt has been growing for five years but mortgage balance growth has been slow since it stopped declining in 2013. The recent jump in mortgage debt is a proof of recovery in the housing market.
