Tag Archives: Mortgage Debt

United States tax policy has been in the spotlight in recent months, with President Trump signing the Tax Cuts and Jobs Act into law in December, and experts debating what the long-term impact of the bill will be ever since. ...

Consumer credit reporting agency Experian has released its eighth annual State of Credit report, showing a positive state of affairs that includes average credit scores trending upward and inching closer to pre-Recession totals. Experian’s data reveals that the national average ...

The United States was hit hard by the housing crisis. Here’s how financial services holding company Ocwen is working to help families save their mortgages and stay in their homes.

On Wednesday, the New York Federal Reserve released its Q1 report on household debt and credit. According to the report, total household debt totaled $12.73 trillion in Q1 2017. This means that household debt has finally surpassed its $12.68 trillion peak reached during the recession in 2008. This is a $149 billion quarterly increase.

Amid a household debt increase of $35 billion in Q2 and the mortgage sector’s share of that debt declined from a huge spike in Q1, recently released data for Puerto Rico’s banking sector completes the picture of household debt for the Commonwealth.

Mortgage debt’s share of total GDP experienced frequent growth culminating in the housing bubble peak and consequently, has been on a steep decline since the bubble burst. The good news is decline has been slowing in recent quarters.

The authors of the report found that 96 million American renters have never had a mortgage—and 42 percent of them have some other type of consumer debt in collections.

The share of mortgage loans 60 days or more overdue dropped by nearly a third to close the year. What drove the decline?

Overall household debt in the U.S. was up by more than $50 billion in Q4. How much of that can be attributed to outstanding mortgage balances?

When faced with a choice as to what type of debt they will take on, mortgage debt often loses out.